Egg Replacers Market size is $926M in 2019, growing at a CAGR of 5.8% during the forecast period 2020-2025. Egg replacers are the ingredients or a group of ingredients that work together to replicate the effect of egg in a recipe, by providing similar properties. The egg replacers are designed to help manufacturers overcome the rising egg white costs and increase the profitability by reassuring reduced egg white baked goods with better appearance and texture which is likely to drive the market of egg replacers in the forthcoming time. Shifting of consumers from eggs to plant-based egg alternatives is motivated by multiple factors, allergies, and dietary preferences, health purpose, ethical reason, and environmental concern.
- Rising awareness of consumers regarding healthy eating habits and increase in adoption of a vegan diet is likely to be the major driving factor for the market’s growth.
- Increasing consumer awareness towards preventative healthcare and an inclination towards products with low cholesterol levels is set to propel the growth of the market.
- North America region is anticipated to record the fastest growth rate during the forecast period 2020-2025.
By Source – Segment Analysis
In 2019, Dairy Protein segment dominated the Egg Replacers Market in terms of revenue is estimated to grow at a CAGR of 6.2% owing towards increasing consumption of vegan products consumption. Dairy products are a high source of protein, so adequate intake of these reduces the risk of malnutrition. The consumption of dairy products with high protein content is the major selling feature of the food and beverage sector, especially for infants and for athletes. The producers of dairy items are becoming more particular in innovating and delivering products that meet the requirements of health-conscious consumers. These growing issues are compelling the consumers to focus more on healthy diets with highly nutritive value and low-fat food that simultaneously increases daily protein consumption abetting towards the growth of the market.
Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Egg Replacers Market in terms of revenue with a market share of 32.2% owing towards the growing demand for egg replacers in food industries, and the low cholesterol level provided by egg replacers. The rising interest in and use of egg alternatives by the food industry is driven by many factors including consumer demand, allergen reduction, improved food safety, healthier nutritional profiles, more comfortable handling, and storage, improved functionality, lower price and reduced price volatility, and environmental sustainability aids to the market’s growth. Government has taken initiatives to promote technological advancements in this region are key factors in the growth of the Egg Replacers market. North America is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Egg Replacers Market
- Increase In The Consumption of Plant Based Products
The increase in the consumption of plant based products derived from the sources such as soy, protein, wheat protein, pea protein and rice protein is driving the markets growth. Plant proteins provide healthy alternatives in sectors like cosmetics and personal care, pharmaceuticals and the most importantly in food and beverage & feed sectors. Increasing consumer spending on Protein ingredients is the emerging driving factor for the market.
Challenges – Egg Replacers Market
- The Lack Of Adequate Amount Of Nutrition
The comparison of egg ingredient and egg replacer concludes that no single replacer can supply the same level and standard of real eggs in a formulation, which is still a major challenge for the egg replacer market. The factors like, taste and as lower availability of untapped market are some the factors that are hindering the market is hindering the market’s growth.
Egg Replacers Industry Outlook
Product Launches was the key strategy of the players in the Egg Replacers Industry. Egg Replacers top 10 companies include Arla Foods, Cargill, Corbion, Danone Nutricia, E.I. Dupont De Nemours & Company, Glanbia PLC, Ingredion Incorporated, Kerry Group PLC, MGP Ingredients and Puratos.
- In February 2018, Arla Foods the world’s largest producer of organic dairy products acquire Yeo Valley Dairies Limited. This acquisition helped in increasing consumer demands for organic and dairy products.
- In March 2019, MGP Ingredients entered into partnership Breakthru Beverage in Arizona to support the continued growth of MGP’s proprietary spirits brands.
- In May 2019, Ingredion Incorporated launched NOVATION® Lumina. The launch of these starches positions Ingredion to help our customers achieve consumer-preferred label claims as we aim higher and bolder with our clean label portfolio.