CHICAGO, July 25, 2024 /PRNewswire/ -- The global
egg replacers market is estimated at USD 2.3 billion in 2024 and is projected to reach
USD 3.3 billion by 2029, at a CAGR of
8.0% from 2024 to 2029 according to a report published by
MarketsandMarkets™.
Here are some of the key reasons that contribute to the great
demand for egg replacers. According to the Food Allergen Labeling
and Consumer Protection Act, egg is one of the eight major food
allergens required to be declared on labels. This is very
important, as it is estimated that 0.5 – 2.5% of young children are
affected by an egg allergy, which can cause very mild rashes at
best or very serious anaphylaxis at worst. The presence of eggs in
food products deters consumers seeking allergen-free options, as
often just one family member with an allergy leads an entire family
to follow a restricted diet. In correspondence with the trend
gaining ground, there seems to be a great deal of awareness towards
flexitarian diets and sustainable eating, all of which has been a
major reason for boosting the demand for plant-based alternatives
to meat, egg, and dairy products. These have exponentially
enhanced the market for egg replacers across a wide spectrum of
food applications and categories.
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By form, the dry segment is estimated to hold the largest
market share during the forecast period.
This is because dry egg substitutes have a number of benefits
that attract both manufacturers and customers. They are useful and
also affordable because they have a longer lifespan, simple to
store and transport, and moreover there is no need to be
refrigerated. Dry egg replacements are very easy to work with and
incorporate into a variety of recipes by simply adding water, so
they may still be used in baking and cooking applications. The
previously mentioned benefits create dry egg substitutes a favored
option in the food processing sector, driving their significant
expansion and dominance.
By source, plant source is estimated to grow at the highest
CAGR during the forecast period.
One of the key drivers is the rising health and sustainability
awareness on the part of consumers, with millions of people turning
to plant-based diets daily in order to make a lesser impact on the
environment and for all-around healthier lives. Second, plant-based
egg replacers target many different dietary needs, from vegan to
vegetarian and even those with an allergy to eggs, further
broadening their market appeal. This demand is also being driven by
the trend of clean labeling, through which consumers move toward
products with simple and recognizable ingredients, and plant-based
options are viewed as healthier with more of a natural feel.
Advancements in food technology have significantly improved the
taste, texture, and functionality of plant-based egg replacers,
hence making the option considerably more attractive both for the
consumer and the manufacturer. Of late, the trends—flexitarian
diets, in particular—are gaining huge popularity among people who
try as much as possible to reduce their consumption of meat and
animal products without going into complete avoidance. And this
forebodes an upsurge in the demand for plant-based
alternatives.
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By ingredient, the starch segment is estimated to hold second
position in terms of market share in the egg replacers market
versatile functional properties and widespread
availability.
Starches, derived from corn, potato, and tapioca, among others,
are excellent at replicating binding, thickening, and gelling
properties of the egg in a broad spectrum of food applications,
thus potentially replacing them in such a wide array of foods as
bakery, sauce, and dressings. Not only that, but starches are also
considerably inexpensive as compared to other egg replacer
ingredients; hence, they become quite appealing to any manufacturer
who wants to curtail the cost of production without jeopardizing
quality. Having a neutral taste by themselves ensures that they do
not alter the flavor profile of the final product, and this forms a
huge advantage to maintain the desired taste of various foodstuffs.
The starch-based egg replacers have also benefited from this
battleground of growing demand for clean-label products, as most
customers viewed these ingredients as natural and wholesome. Along
with the continuous development of food processing technology,
functionality, and performance of starches as egg replacers
definitely increase, thus helping to strengthen their market
position.
The egg replacers market in the Asia pacific region is expected to grow
constantly during the forecast period.
The increasing urbanization in the Asia Pacific region and the rising
middle-class population with higher disposable incomes boosts the
consumption of convenience foods and bakery products where egg
replacers are majorly consumed. The food industry push for
sustainable and ethical sourcing is a major driver because like
manufacturers, consumers also look to reduce the environmental
impact associated with traditional egg production. Innovations in
food technology have helped to develop egg replacers with the
closest functional properties of eggs, such as binding,
emulsification, and leavening, without any detrimental effect on
taste or texture. A favorable regulatory regime that encourages
government initiatives for betterment in food safety and quality
standards indeed is encouraging for the adoption of egg replacers
across the region. With multinational companies expanding further
and increasing their presence, as well as domestic players entering
the market, the competitive landscape also becomes dynamic enough
to further give a boost to the growth in the market.
Key players in the egg replacers market are Cargill,
Incorporated (US), ADM (US), Kerry
Group plc (Ireland), Ingredion
(US), Tate & Lyle (UK), Puratos (Belgium), Corbion (Netherlands), Arla Foods Ingredients Group
(Denmark), Glanbia plc
(Ireland), Dupont (US), MGP
Ingredients (US), Danone (France),
Fiberstar, Inc (US), J&K Ingredients (US), and AAK Foods
(Sweden).
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