The global food industry has experienced paradigm shift over the past couple of decades, with more number of people/consumers switching to vegan diet over non-vegetarian diet. In its publication, One Green Planet identified that over 6% of the population in the U.S. is vegetarian owing to the adverse health effects of non-vegetarian diet on individual’s health. Moreover, a large number of NGOs are promoting use of vegan diet over non-vegetarian diet, a many of these NGOs site cruelty in handling the animals and birds in dairy farm.
The outbreak of several diseases from birds is affecting the global consumption of eggs worldwide. Consumers are now looking for egg alternatives as source of their daily nutritional requirements. The use of dairy based products, soy based and starch based products has grown significantly over the past few years. The global egg replacement market is projected to be driven by factors such as increase in number of vegans, outbreak of diseases associated with birds, and increasing awareness about the healthy vegetarian diet and growing health concerns worldwide. According to report the global egg replacement ingredients market was sized over USD 966.0 million in 2016. The global egg replacement ingredients market is projected to grow at a CAGR of 5.02% over the forecast period of 2017 – 2023 and reach USD 1373.4 million by 2023.
The growth in this market is primarily driven by factors such as increasing number of vegans, growing health concerns and outbreak of birds associated diseases such as bird flu, and avian influenza. Furthermore, rise in initiatives by non-profit/ non-government organizations to promote vegetarian diet are likely to support the growth in the world egg replacement ingredients market worldwide. The rising egg prices and shortage of eggs in 2016-2017 has augmented the demand for egg replacement ingredients in industrial applications such as bakery and confectionery, sauces & dressings manufacturing among others. On the other hand, preference for original egg taste and incidences of contamination are among the restraining factors affecting the growth of egg replacement ingredients market worldwide over the forecast period. The emerging markets of Asia-Pacific such as China and India are likely to provide significant opportunities for egg replacement ingredient manufacturers owing to growing packaged food industry and growing egg prices. Moreover, growing awareness about the use of non-egg or non-veg ingredients in the bakery items is likely to provide opportunities over the forecast period.
The global food consumption patterns have changed drastically; the number of consumers switching from non-vegetarian diet to vegetarian only is increasing dramatically. In addition, changing supply conditions of eggs and increased incidences of bird related diseases have widened the supply and demand gap. This, as a result, is expected to drive the demand for starches, soy based products, whey and casein in various industrial applications in the years to come.
The report on global egg replacement ingredients market covers segments such as type, application, form, and source. The type segment includes dairy protein. On the basis of dairy protein the global egg replacement ingredients market is categorized into starch, algal flour, and soy based products, and others. On the basis of application the global egg replacement ingredients market is categorized into mayonnaise & sausages, bakery & confectionary, and others. Furthermore, on the basis of form the Egg replacement ingredients market is segmented as dry/solid. On the basis of source the egg replacement ingredients market, is segmented as animal, and plant.
The countries considered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, and Australia, among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are considered in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the egg replacement ingredients market growth owing to growing demand for packaged food and remarkable increase in number of vegans in China and India. The APAC region is projected to experience a growth at a CAGR of 5.44% over the period of 2017 - 2023.
The report provides profiles of the companies in the global egg replacement ingredients market such as, Arla Foods, E.I. Dupont De Nemours And Company, Archer Daniels Midland Company, Ener-G Foods, Inc., Corbion Group, Glanbia Plc, Fiberstar, Inc., Ingredion Incorporated, Florida Food Products, LLC, and Cargill, Inc.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global egg replacement ingredients market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of egg replacement ingredients market.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the egg replacement ingredients market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the egg replacement ingredients market to understand the present and future trends in this market and formulate their strategies accordingly.
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