Global Egg Replacement Ingredients Market is expected to grow at a CAGR of 6.01% during the forecast period from 2019-2026

As per the report published by Fior Markets,The global egg replacement ingredients market is expected to grow from USD 1.4 billion in 2018 to USD 2.1 billion by 2026, at a CAGR of 6.01% during the forecast period 2019-2026.The North America region led the global egg replacement ingredients market with a market share of 44% in 2018. North America is reckoned to be the most lucrative marketplace with the United States and Canada leading the regional market.A larger portion of the U.S. population is adopting a vegan and plant-based diet owing to this, there is an increase in the demand for egg replacement ingredients. Also, increasing demand for vegan bakery products in Asia Pacific is expected to drive the regional growth of the market over the forecast period. Among packaged foods carrying a vegetarian or vegan claim, bakery products have the highest demand in the Asia Pacific region.

"Egg replacement ingredients Market by type (dairy protein, starch, algae flour, soy-based products, and others), form, application, Regions",and Global Forecast 2019-2026.

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Key players in the global egg replacement ingredients market are Corbion N.V., Puratos Group, Glanbia PLC, Natural Products, Inc., DuPont, Ingredion Incorporated, Tate & Lyle PLC, Ener-G Foods, Inc., Orchard Valley Foods Limited, TerraVia Holdings, Inc., and Archer Daniels Midland Company among others. Growing demand for plant-based ingredients, high egg prices, and low availability of eggs are some of the factors driving the growth of the egg replacement ingredients market. In addition to this, sustainability and consumer shift towards a vegan diet are also boosting the growth of the market.

The product segment is divided intodairy protein, starch, algae flour, soy-based products, and others. The starch segment is expectedto hold the largest market share in the global egg replacement ingredient market. This is mainly due to the rising demand for higher usage of starch in various end products such as cakes, muffins, and pancakes, cookies or brownies. The form segment includes liquid and powder. The powder form segment is anticipated to grow at the highest CAGR of 6.8% over the forecast period. Powder commercial egg replacement ingredients stay fresh for at least a year, whereas the liquid form of egg replacement ingredients starts to lose its power after time.

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The applications segment fragmented into bakery & confectionery, mayonnaise & sauces, and others. The bakery & confectionery segment is expected to grow at a CAGR of 5.5% over the forecast period, owing to the rising demand for egg replacement ingredients from the bakery industry. Egg replacement ingredients in bakery and confectionaries have been driven by many factors:

Economics: considerable fluctuations in global egg supply and pricing
Health concerns: cholesterol content, avian influenza outbreaks, etc.
Lifestyle: Vegan/vegetarian diets
Shelf-life and handling: egg products have a limited shelf-life and can lead to HACCP issues
Allergen: the egg is considered a top allergen in the U.S., creating a challenge for food producers

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