Egg Substitute Market Will Exhibit an Impressive Expansion by 2032

The egg substitute market is expected to reach US$ 1.1 Bn in 2022. With sales growing at a 5.9% CAGR, the market valuation will reach US$ 2.1 Bn in 2032. Increasing preference for natural ingredients in packaged food and bakery products is expected to drive sales in the market. Egg substitutes can be used in place of eggs in recipes and baked goods. They are primarily preferred by vegans, however, they are occasionally preferred by others seeking variation in taste.

The usage of egg substitutes has no effect on the taste or appearance of the finished product. Surging application of egg substitutes in numerous products such as mayonnaise, chocolates, ice cream, custard, cakes, muffins, biscuits, and other baked goods is propelling the market.

These substitutes are as beneficial as eggs in terms of nutrition, being cholesterol-free, gluten-free, and high in vitamins A and B12, among other nutrients. Increasing awareness regarding the nutritional benefits of egg substitutes, as well as the inclination to eat healthy food items, are complementing the growth in the market.

"Key manufacturers are investing in branding and product labelling to boost sales of egg substitutes. Besides this, increasing adoption of egg substitutes in nutraceuticals and dietary supplements is expected to boost the market in the forthcoming years," says an FMI analyst

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Key Takeaways:

Based on form, the liquid segment is anticipated to account for around 46.7% of the total market share over the forecast period.

The North America egg substitute market is expected to expand at a 5.6% CAGR through 2032.

Sales in the East Asia egg substitute market are forecast to account for 18.9% of the global egg substitute consumption through 2032.

Egg substitute application in the bakery industry is expected to hold a market share of over 41.5% over the forecast period.

Competitive Landscape

Some of the prominent players of the global egg substitute market include Corbion, DuPont Nutrition & Health, Kerry Group, Florida Food Products, Glanbia Plc, MGP Ingredients, Archer Daniels Midland Company, Tate and Lyle and Ingredion Inc., Ingredion Incorporated, Cargill Inc., LLC Fiberstar Inc., and Others

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Egg Substitute market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on the egg substitute market

Egg Substitutes Market By Category

Form :

Dry
Liquid

Source :

Plant
Animal

Ingredient :

Dairy Proteins
Starch
Algal Flour
Soy-based Products

Application :

Bakery & Confectionery
Savories
Sauces
Dressings & Spreads

Distribution Channel :

Convenience Stores
Hypermarkets
Departmental Stores
Others

Region :

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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The report covers exhaustive analysis on:

How much is the egg substitute market currently worth?
What was the last 5-year CAGR for the egg substitute market?
What will be the next 10-year CAGR for the egg substitute market?
What is the share of top 5 players in the egg substitute market?
Who are the top 5 countries driving egg substitute market?
At what rate will the egg substitute market increase in North America?
What is the Latin America egg substitute market outlook?
What is the market outlook for egg substitute in EMEAI region?
At what rate did the egg substitute market increase between 2021 and 2022?

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.