The global egg replacement ingredients market will grow at a CAGR of 5.7% from 2017 to 2022 to reach USD 1,152.0 million by 2022, according to this latest publication from Meticulous Research®. The global egg replacement ingredients market is driven by increasing vegan, vegetarian, and flexitarian population; growing preference for the plant based natural food ingredients among general population; frequent outbreaks of Avian Influenza, and safety benefits over the natural eggs. However, there is a reluctance to use the egg replacement ingredient from both the industrial users as well as the end consumer primarily due to its inability to replicate the exact flavor, taste, and texture like the real eggs.
Global egg replacement ingredients market is segmented by type (dairy protein, starch, algae flour, soy based products others), by application (bakery & confectionary, mayonnaise & sauces, others), by form (solid, liquid), and by source (plant, animal).
Dairy protein dominates the egg replacement ingredients market followed by soy based products. The large share of this segment is mainly attributed to its ease of incorporation in numerous recipes/products and ability to impart the egg like texture to the products.
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Geographically, the global egg replacement ingredients market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. North America accounted for the major share in the global egg replacement ingredients market in 2016, followed by Europe, and Asia-Pacific region. The major share of the North American region is mainly attributed to the higher acceptance of egg replacement ingredients in the U.S., rapidly increasing vegan population, and incidences of Avian Influenza outbreaks. However, Asian countries are slated to register the fastest growth during the forecast period, owing to the large population that abstains from animal origin foods, increasing spending capacity, and growing awareness about ill effect of eating non-vegetarian foods.
The key players operating in global egg replacement ingredients market are Archer Daniels Midland Company (U.S.), Cargill Inc., (U.S.), MGP Ingredients (U.S.), Nestlé S.A. (Switzerland’s), Corbion Group (Netherlands), E.I. Dupont (U.S.), Ener-G Foods, Inc. (U.S.), Fiberstar, Inc. (U.S.), Florida Food Products LLC (U.S.), Glanbia PLC (Irelands), Ingredion Incorporated (U.S.), Eden Foods, Inc. (U.S.), Organic Valley (OV)(U.S.), and American Soy Products, Inc. (U.S.).
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