Press release
Egg Replacers Market Soaring High: Growth at 6.7% CAGR, Rising Veganism, and Forecast for 2024-2029
Egg Replacers Market Soaring High
•The global egg replacers market size was $1.46 billion in 2024 and is projected to reach $1.56 billion in 2025, growing at a 6.7% CAGR.
•The growth in the recent years is attributed to rising egg prices, egg shortages, dietary restrictions and allergies, increased demand for allergen-free products, and other factors.
•The market is forecasted to maintain strong growth in the upcoming years, estimated to reach $2.11 billion in 2029 at a 7.9% CAGR.
•The future growth is expected to be driven by the expansion of plant-based diets, advancements in protein alternatives, and the growing demand for egg-free baking among others.
What Is Driving The Growth In The Egg Replacers Market?
The market's remarkable growth is predominantly driven by the increasing adoption of a vegan diet in developed economies which is mainly attributed to its health benefits. For instance, as of January 2022, approximately 10% of Americans over the age of 18 acknowledged themselves as vegan or vegetarian. Hence, the growth in consumption of a vegan diet will continue to positively influence the egg replacers market.
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Who Are the Key Players Driving Egg Replacers Market Growth?
•Cargill Incorporated
•Archer Daniels Midland Company
•Arla Foods Ingredients Group P/S
•DuPont de Nemours Inc.
•Kerry Group plc.
•Ingredion Inc.
•Glanbia Plc.
What Are The Key Trends In The Egg Replacers Market?
•Technological innovations
•Clean label ingredients
•Technological advancements in food science
•Collaboration with culinary experts
•Digital marketing and e-commerce
What Are The Segments Of The Global Egg Replacers Market?
•By Ingredients: Dairy Proteins, Starch, Algal Flour, Soy-Based Products, Other Ingredients
•By Form: Dry, Liquid
•By Source: Plant-Based, Animal-Based
•By Distribution Channel: Supermarkets, Convenience Stores, Online Platforms, Retail Stores
•By Application: Bakery And Confectionery, Savories, Sauces, Dressings And Spreads, Other Applications
Which Region Is Leading The Egg Replacers Market?
North America was the largest region in the egg replacers market in 2024. Meanwhile, the Asia-Pacific region is expected to be the fastest-growing in the forecast period. Other regions that are included in the egg replacers market report are Western Europe, Eastern Europe, South America, the Middle East and Africa.
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What Is Covered In The Egg Replacers Market Global Market Report?
- Market Size Analysis: Analyze the Egg Replacers Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Egg Replacers Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Egg Replacers Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Egg Replacers Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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