Egg Replacement Ingredients Market
2021 Analysis and Review: Egg Replacement Ingredients Market by Ingredient-Milk Protein Formulation. Algal Flour, Proteins, Starch, Soy Products and others for 2021-2031
Egg Replacement Ingredients Market Snapshot
The egg replacement market is growing swiftly as a result of rising egg prices and increasing focus on preventive healthcare. As per latest Fact. MR analysis, the market is set to register a CAGR of around 5.8% during the forecast period, surpassing a valuation of US$ 1533.3 Mn by 2031 end.
Milk protein formulation leads the market and is expected to account for a revenue share of around 31.6% by the end of 2021.
North America dominates the egg replacement ingredient market owing to the presence of technologically advanced food processing industry and growing vegan population. The North America market is estimated to account for around 47.8% of the global egg replacement ingredient market by 2031 end.
Key Points Covered in Egg Replacement Ingredients Market Study
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Egg Replacement Ingredients Market and How to Navigate
- Recommendation on Key Winning Strategies
2016-2021 Egg Replacement Ingredients Market Demand Outlook in Comparison to 2021-2031 Forecast
Growing vegan population, increasing prevalence of bird flu and influenza, high egg prices due to egg shortage and rising awareness about healthy lifestyle are some of the factors driving the egg replacement ingredients market.
Moreover, rising inclination towards plant-based ingredients is positively impacting the demand for egg replacement ingredients. The egg ingredient market is witnessing a huge demand for plant-based egg substitutes.
Egg shortage caused by the increasing prevalence of bird diseases is fostering the demand for egg replacement ingredients. Food manufacturers across the globe are adopting egg replacement ingredients on large scales in order to coup up with the rising egg prices and egg shortage.
As egg replacement ingredients facilitate the reduction of egg content in the food without compromising the taste, appearance and nutritional benefits, they are being increasingly utilized across various application such as bakery products.
The egg alternatives also offer many functional features to the food they are added in, such as binding, foaming, aeration and emulsification.
Rising health concerns for non-veg food is encouraging the consumers to opt for vegan diets. It has been observed that high consumption of eggs can give rise to various heart related diseases. As a result, people are opting for egg alternatives. This leads to the adoption of egg replacement ingredients.
Key players operating in the market are continuously introducing new products to cater to the rising demand from various industries. They have adopted various organic and inorganic strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.
For instance, in July 2021 Canadian food tech company Nabati Foods announced the launch of “First Canadian-made plant-based eggs substitute”. The liquid egg substitute will be sold under the name Nabati Plant Eggz and is free of soy, gluten, and cholesterol. It is also high in fibre, protein, and vitamins, including vitamin B12.
In January 2020 Noblegen launched its first consumer product, a plant based whole egg powder named “the egg”. It is a vegan friendly, free from cholesterol and provides protein equivalent to that of a traditional egg but with low calories.
Similarly, in July 2021 Japanese food tech Next Meats expanded its alternative protein range with a new egg substitute named Next Egg 1.0. The 100% vegan egg alternative will soon be landing in Japan through B2B channels.
Egg Shortage Crisis in Regions Such as North America Owing to Avian Influenza to Boost Growth of Egg Replacement Ingredients Market
The outbreak of avian influenza and its subsequent prevalence among birds, primarily in the North America region, has led to an intense egg supply crisis.
Poultry producers across several countries, primarily in North America, are witnessing huge losses in the wake of a highly pathogenic strain of avian influenza.
This epidemic has, in turn, persuaded producers to cull millions of chickens and turkeys.
Consequently, food manufacturers are on the lookout for egg substitutes to include in various products, which is foreseen to bode well for egg replacement ingredients market.
Moreover, this shortage could lead to increase in prices of eggs, encouraging producers and consumers to opt for egg substitutes at an affordable deal.
Due to supply constraints, the prices of eggs in regions like North America could witness a drastic surge.
Thus, multiple producers are vying for cutting down recipe costs by using egg substitutes, thereby propelling the growth of egg replacement ingredients market.
Less Number of Players in the Specific Market to Pose Striking Opportunities in Egg Replacement Ingredients Industry
Though a huge demographic of players in the bakery industry provides traditional bakery offerings, only a few players make use of egg replacement ingredients in their products.
Health-savvy population evolving across the globe are highly preferring functional foods with natural ingredients.
This is a preeminent trend creating pioneering opportunities for companies in egg replacement ingredients market to offer products in line with this growing fad.
This opens up multiple avenues for domestic and local players to penetrate into the egg replacement ingredients market for cashing on surging demand for foods which are gluten-free, armed with a high nutritional profile, and are clean labelled from bakeries and several other food joints.
This is envisioned to fortify the demand for egg replacement ingredients by a large margin.
Mayonnaise to Stand Out as the Leading Application in terms of Revenue in Egg Replacement Ingredients Market
Mayonnaise is poised to stay ahead of the curve in terms of revenue in egg replacement ingredients market as compared to other application segments such as chocolates, biscuits and cookies, cakes/pastries/muffins/breads, and noodles & pasta in the egg replacement ingredients market.
On the flip side, the section of cakes/ pastries/muffins/breads in egg replacement ingredients market is foreseen to exhibit faster growth over the forecast period.
In the light of sudden and unprecedented decline in egg supply because of avian flu, several manufacturers of mayonnaise dressings have been receiving requests for introducing stabilizers to replace eggs in mayonnaise.
Though manufacturers in egg replacement ingredients market find it a bit challenging to restore the functionality of eggs in mayonnaise-type dressings, they are persistently formulating stabilizer systems for replacing the necessary texture and emulsification properties.
This, in turn, is poised to spur the demand for egg replacement ingredients and bode well for the overall market growth.
About the Report
Fact MR compiled a comprehensive report on egg replacement ingredients market for the assessment period of 2021–2031.
The report on egg replacement ingredients is an ideal solution for both qualitative and quantitative intelligence, which are important for gauging overall scope of the egg replacement ingredients industry.
Furthermore, the report on egg replacement ingredients market also covers exhaustive information of the current scenario of the industry, which forms a base for framing the futuristic anticipations.
The report is an all-inclusive presentation of growth drivers, market restraints, prime opportunities, demand generators, market size estimations, industry forecasts, and pioneering trends governing the egg replacement ingredients market over the forecast timeline.
The report on egg replacement ingredients market has been compiled by procuring information from both primary and secondary research findings.
Porter's five forces model included in the report provides an overview of the competitive intensity, supplier, and buyer positions in the egg replacement ingredients market.
Moreover, it also sheds light on the opportunities for new entrants in the egg replacement ingredients market. Further, the growth matrix entailed in the report gives a clear outline of the investment areas, which both the established and new market players should consider.
From the geographical standpoint, this report scrutinizes the top consumers, producers, production, product capability, consumption matrix, market share, and pervasive trends in the egg replacement ingredients market.
The report starts with an industry overview of global egg replacement ingredients market, which is followed by a circumstantial analysis of the industry dynamics.
The impact of key growth determinants and impediments have been studied in the report which are poised to thwart market growth of egg replacement ingredients over the time.
A weighted average model is included that elaborates on the impact analysis of key growth drivers and determinants on egg replacement ingredients market to help the reader in making viable business decisions.
Moreover, the egg replacement ingredients market is analyzed based on various segments to outline a comprehensive industry outlook for the respective assessment timeline.
Apart from the global trends, the report on egg replacement ingredients market also discusses the key regional trends that are contributing to the market growth and also analyzes their after-effects on the industry of egg replacement ingredients.
Egg replacement ingredients enable restoration of nutrients and helps reducing egg content in foods, without influencing the taste and appeal of the final product. It finds primary application in confectionary and bakery products such as cakes, muffins, mayonnaise, chocolates, custard, ice-cream, cookies and others.
Egg replacement ingredients are foreseen to evolve as mainstream ingredients, primarily for use in bakery products by virtue of benefits such as reduction in count of raw materials used, enhanced appeal & texture, magnified shelf life and enticing taste.
Going forward, egg replacement ingredients are expected to be widely adopted by various food manufacturers and end consumers.
Additional Questions Answered
To furnish the specific needs of users, our analysts have left no stone unturned in the egg replacement ingredients market report. Some of the additional questions addressed in the report on egg replacement ingredients market are-
- What additional benefits the market is attaining in the light of increasing consumer awareness towards preventive healthcare?
- How is complicated egg handling and production process pushing growth of egg replacement ingredients market?
- What kind of hindrances in the egg replacement ingredients market may result owing to increased cost of the final product?
- How is the increased demand for vegan or vegetable edible products influencing growth of egg replacement ingredients market?
- What strategies are companies operating in the industry of egg replacement industry adopting to gain competitive advantage over their rivals?
The report entails a list of top-notch and well-established players operating in the egg replacement ingredients market.
Those players of egg replacement ingredients market are featured on the basis of several factors such as their market reach, revenue shares, product developments, and many more.
Few of the prominent players featured in the competitive dashboard of the report include Corbion NV, Glanbia plc, Tate & Lyle Plc, Ingredion Incorporated, and Ener-G Foods, Inc.
Furthermore, the key focus areas of those companies operating in egg ingredients market have also been included for readers to gain a competitive edge.
Also, product innovation and strategic moves of those prominent players operating in egg ingredients market have been included to aid the budding market players to upgrade their business strategies.
The report on egg replacement ingredients market addresses each of the segment in detail, the historic data, current rationalities, and futuristic anticipations. Sub-segments under each category have also been discusses and elaborated.
This market research study on egg replacement ingredients has been meticulously compiled by a series of practical intelligence collected from both secondary and primary sources.
The data points included in the report on egg replacement ingredients market have been obtained through several interviews with key industry leaders from both demand and supply side, channel players, regulators, and standardization authorities.
While compiling the secondary research data for this report on egg replacement ingredients, Fact.MR has conducted a rigorous search of relevant published repositories, which include annual reports, SEC filings, investor presentations, relevant magazines, associations, paid databases, and other available sources for egg replacement ingredients market.
A key element incorporated in the research methodology of egg replacement ingredients is the primary data collection which involves direct discussions and interactions with a panel of key opinion leaders throughout the value chain.
The report further elaborates on the market taxonomy of egg replacement ingredients on the basis of several segments such as form, application, ingredient, end-user, and region. Egg replacement ingredients are further classified into liquid and powder, on the basis of form.
Various application areas making use of egg replacement ingredients include chocolate, biscuits & cookies, cakes/ pastries/ muffins/bread, noodles & pasta, and mayonnaise.
By ingredient, the types included in egg replacement ingredients market are milk protein formulations, algal flour, proteins, starch, soy products, and others.
Types of end users involved in the egg replacement ingredients industry are commercial and household.
The market of egg replacement ingredients has been analyzed across several regions such as North America, Latin America, Asia Pacific (APAC), and Europe, Middle East & Africa (EMEA).
Egg Replacement Ingredients Market Scope Of The Report
Fact.MR compiled a report on opportunity assessment analysis of egg replacement ingredients market for the forecast period of 2018–2028.
This report provides an elaborated and detailed analysis, both from qualitative and quantitative slants, and is backed with market dynamics, market size estimations and futuristic trends in the egg replacement ingredients market.
The cutting-edge insights included in the report will aid the decision makers and key stakeholders of egg replacement ingredients market to develop winning strategies and tap onto new opportunities for high return on investments.
Chapter 1 – Executive Summary
The first chapter comprises of a holistic overview of the egg replacement ingredients market analysis performed by Fact.MR.
It sheds light on an opportunity assessment framework highlighting the pioneering segments for manufacturers in egg replacement ingredients market to consider.
Chapter 2- Assumptions and Acronyms Used
This chapter lists all the assumption and acronyms used in the research methodology adopted in the study of egg replacement ingredients market for understanding and reference of readers.
Chapter 3- Research Methodology
This chapter explains about the research methodology incorporated, the approach followed to procure data points pertinent to the egg replacement ingredients market forecast.
Research methodology employed in report on egg replacement ingredients market determines the process involved in obtaining the data points which serve as a base for forecasting the rationalities of egg replacement ingredients market for the forecast period
Chapter 4- Market Analysis
This chapter in the report on egg replacement ingredients market entails exclusive intelligence on vital parts such as market size and y-o-y growth comparison, absolute $ opportunity, regional price projections, tapped and untapped opportunities, and global trends diversifying the growth of egg replacement ingredients market.
Chapter 5- Market Dynamics
This chapter discusses the key drivers and influencing aspects influencing both the supply and demand side of egg replacement ingredients market.
Also, several roadblocks hindering the growth ambit of egg replacement ingredients market have been mentioned in this chapter along with opportunities for market participants to leverage.
Chapter 6- Market Overview
This chapter embodies projections of egg replacement ingredients market apropos of vital facets such as basis point share (bps) analysis, y-o-y growth anticipations, and attractiveness analysis.
Chapter 7- North America Market Analysis and Forecast
This chapter provides cutting-edge insights on the egg replacement ingredients market in North America, its growth course in the region over the forecast period and trends governing the egg replacement ingredients market in this region.
Chapter 8- EMEA Market Analysis and Forecast
This chapter provides diligent insights on the egg replacement ingredients market in EMEA region, its growth path in the region over the forecast period and trends shaping the egg replacement ingredients market in this region.
Chapter 9- APAC Market Analysis and Forecast
This chapter provides meticulous insights on the egg replacement ingredients market in APAC region, its growth trajectory over the forecast period and trends altering the landscape of egg replacement ingredients market in this region.
Chapter 10- Latin America Market Analysis and Forecast
This chapter highlights actionable insights on the egg replacement ingredients market in Latin America region, the revenue prognosis over the assessment timeline and trends oscillating the egg replacement ingredients market growth in this region.
Chapter 11- Competition Landscape
This section elaborates on the competitive rivalry in the egg replacement ingredients market featuring all the prime companies.
These companies operating in egg replacement ingredients market are listed on the basis of various factors such as their market presence, revenue share, differentiating strategies, key areas of focus, and many more.
The information included here has been gleaned from several resources such as published financial data, quarterly financial statements, 10-K & 10-Q filings, annual reports, local newspapers, company websites, company press releases, published trade data, and other data sources.
- FAQs -
The egg replacement ingredients market is expected to surpass 1,533.3 Mn by the end of 2031.
As per latest updated data by Fact. MR, the egg replacement ingredients market is forecast to grow at a CAGR of around 5.8% during the forecast period.
Increasing prevalence of bird flu and influenza, rising egg prices, growing health concerns and increasing demand for vegan foods are some of the factors driving the egg replacement ingredients market.
Development of vegan egg alternatives, acquisitions, collaborations and partnerships are some of the key trends prevailing in the market.
Milk protein formulation leads the egg replacement ingredients market. The segment is anticipated to account for around 31.6% market share by the end of 2021.
As per Fact. MR analysis, North America is expected to account for around 47.8% market share by the end of 2021. This can be attributed to the low availability of eggs due to increasing prevalence of bird diseases.
The mayonnaise segment is expected to hold 38.2% of the total market share by the end of 2021.
High cost associated with egg replacement ingredients and less functionality of egg alternatives are the major factors hampering the growth of egg replacement ingredients spacer market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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