Egg Replacement Ingredients Market to be Worth US$2.1 Billion by 2033

Expanding at a CAGR of 5.8%, the global egg replacement ingredients market is expected to increase from a valuation of US$ 1.2 billion in 2023 to US$ 2.1 billion by 2033-end.

At present, commercial end-use industries account for 60% share of the global market. Globally, the public is changing in favor of functional foods made with natural components. To increase sales, many department stores and outlets have started offering products online.

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Market Drivers:

1. Growing Demand for Plant-based and Vegan Foods: The increasing awareness of health and environmental concerns, along with a rising number of consumers adopting vegetarian, vegan, or flexitarian diets, drove the demand for egg replacement ingredients derived from plant-based sources.

2. Allergen Concerns and Food Sensitivities: Egg allergies and sensitivities are common, especially among children. As a result, food manufacturers sought egg replacement ingredients to cater to consumers with egg allergies or those looking for allergen-free alternatives.

3. Sustainability and Animal Welfare: Concerns about animal welfare and the environmental impact of egg production led to a shift towards more sustainable and cruelty-free food choices, further driving the adoption of egg replacement ingredients.

4. Cost-effectiveness: Some egg replacement ingredients, such as certain plant-based alternatives or functional ingredients, offered cost advantages over eggs, making them attractive to food manufacturers looking to optimize production costs.

5. Improved Formulation and Taste: Advancements in food science and technology have led to the development of egg replacement ingredients that can closely mimic the functionality and taste of eggs in various food products, encouraging their use in recipes.

6. Regulatory and Labeling Requirements: Stringent regulations regarding food safety and labeling in various regions prompted food manufacturers to explore egg replacement options that comply with these requirements.

Competitive landscape:

Key players in the egg replacement ingredients market are collaborating with F&B companies and continuously introducing new products to cater to the rising demand from various industries.

For instance :
• In 2021, the leading stevia ingredients company "Sweet Green Fields" was acquired by the UK-based food and beverage company Tate & Kyle.

Key Companies Profiled:
• Corbion NV
• Glanbia plc
• Tate & Lyle
• Ingredion Incorporated
• Fiberstar
• Kerry Group
• Archer Daniels Midland Company
• DuPont Nutrition & Health
• Cargill Incorporated
• PURATOS

Egg Replacement Ingredients Industry Research Segmentation:

• By Form :
• Liquid
• Powder

• By Type :
• Milk Protein Formulations
• Algal Flour
• Protein
• Starch
• Soy Products
• Others

• By Application :
• Chocolates
• Biscuits & Cookies
• Cakes
• Noodles & Pasta
• Mayonnaise

• By End Use :
• Commercial
• Household

• By Region :
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Questionnaire answered in the Market outlook Report of Egg Replacement Ingredients include:

• What is the key strategy deployed by large players to maximize Egg Replacement Ingredients Market growth?

• What are the main challenges faced by players in the Egg Replacement Ingredients market Demand?

• With the advent of technological advancement, how will the Egg Replacement Ingredients market landscape change over the forecast period?

• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Egg Replacement Ingredients market size?

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This release was published on openPR.