Jul 9, 2020 11:50 AM ET
iCrowd Newswire – Jul 9, 2020
Global COVID-19 Impact on Egg Replacers Market is projected to grow at the CAGR of 6%. Rising consumer awareness of plant-based food additives, and food manufacturers’ interests in developing products with clean labels are the driving forces for this market. Growing demand for vegan products is the key driving force for market growth of egg replacers across the globe.
An egg replacer is used as a substitute for fresh eggs in order to reduce or eliminate the cholesterol content found in whole eggs. For liquid Egg Substitutes, some of the additional or replacement ingredients may include soy-based products, dairy proteins, starch, and others. Many of the powdered egg replacers are egg-free and are produced from ingredients such as starch, yeast extract, soy flour, wheat gluten, and others that simulates the consistency and essence of eggs.
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Food and beverage industry use the egg replacers largely, as the demand for natural & plant-based food additives has increased. Leading Egg replacer’s manufacturers are heavily investing in the R&D so as to focus on new product development and improving product formulation. The rising prices of fresh eggs and increasing consumer awareness about various healthy diet trends are estimated to boost the growth of the global egg replacement market during the forecast period. Consumers following vegan diet prefer products comprising plant based natural ingredients due to various health & ethical issues. This factor is estimated to support the egg replacement sales in the global market.
Major Key Players
This report includes a study of strategies used in the market, mergers and acquisitions in Egg replacers, multiple product launch by egg replacers market players. It further includes product portfolios and developments of leading major players which includes Puratos (Belgium), E.I. Dupont De Nemours and Company (U.S.), Corbion (Netherlands), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Arla Foods (Denmark) and Tate & Lyle PLC (U.K.). The Global Egg Replacers Market is segmented on the basis of source, form, type, application and region of egg replacers
Global COVID-19 Impact on Egg Replacers Market has been segmented on the basis of source of by raw material dairy protein, starch, soy-based products, algal flour & yeast extracts, and others. Dairy proteins dominate the market, however soy-based products will highest growing segment during the forecast period due rising demand for gluten free and vegan food products,
On the basis of form, market is segmented into powder, liquid and others. Liquid based egg replacers will dominate the market as it is convenient to use in various food processes.
On basis of application, market is segmented by application bakery & confectionery, savories & snacks, sauces & spreads and others. Bakery & confectionery will dominate the market, as there is rise in demand for vegan products.
Global Egg Replacer Market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these, APAC region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing per capita disposable income coupled with the changing lifestyles of the consumer in countries such as China, India and others. Europe is also estimated to grow at a highest during the forecast period. Moreover, North America has shown great market potentials, due rising demand for vegan food products and rising health issues due to infected poultry animals.
- North America dominates the Fortified beverages market followed by Europe
- Asia-Pacific is the fastest growing region in the fortified beverages market. India and China have shown huge potentials for fortified beverages market share during reviewed period of 2020-2023
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