Egg Substitutes Market Analysis Report 2024: A Global $140 Million Market In 2023 - Size, Trends, Opportunities And Forecasts 2020-2024 & 2025-2030

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The "Global Egg Substitutes market 2024 Edition: Market Size, Trends, Opportunities and Forecast by Application, Ingredients, Form, Region, By Country: 2020-2030" report has been added to ResearchAndMarkets.com's offering.
Egg Substitutes Market valued at USD 140.03 Million in 2023 is expected to grow at a CAGR of 19.2% during 2025-2030.
The Egg Substitutes market has witnessed substantial growth over the past few years, driven by the increasing demand for plant-based and allergen-free food products, as well as the rising prevalence of egg allergies and dietary restrictions. Egg substitutes are ingredients used as replacements for eggs in various food products, offering similar functionalities such as binding, leavening, and moisture retention. The market's expansion is primarily fueled by the need for alternatives that cater to vegan, vegetarian, and allergen-conscious consumers.
One of the primary drivers of the Egg Substitutes market is the growing consumer awareness and adoption of plant-based diets. The shift towards veganism and vegetarianism has led to a surge in demand for egg alternatives that provide the same culinary benefits without the use of animal products. This trend is particularly strong among millennials and Gen Z consumers who prioritize ethical and sustainable food choices.
The rise in egg allergies and dietary restrictions has also played a crucial role in the market's growth. As more individuals are diagnosed with egg allergies or choose to avoid eggs for health reasons, the demand for safe and effective substitutes has increased. This has driven food manufacturers to innovate and develop a wide range of egg substitute products that meet these specific dietary needs.
The increasing focus on clean label and natural ingredients has influenced the Egg Substitutes market. Consumers are seeking products with simple, recognizable ingredients and are wary of artificial additives. This demand for clean label products has prompted manufacturers to use natural ingredients such as chia seeds, flaxseeds, and aquafaba (chickpea water) as egg substitutes, which not only meet functional requirements but also align with consumer preferences for natural foods.
Segment Insights
By product type, the liquid egg substitute segment holds the largest market share, accounting for approximately 45% of the global Egg Substitutes market in 2023. Liquid egg substitutes are favored for their ease of use and versatility in various culinary applications, driving their demand among both consumers and foodservice providers.
Geographical Insights
Americas represent the largest market for Egg Substitutes in value terms, driven by the high prevalence of egg allergies, advanced food processing infrastructure, and significant consumer interest in plant-based and allergen-free products. The United States, in particular, is a key market due to its strong focus on innovation and extensive use of egg substitutes in various food products.
In the Americas, the market is further bolstered by favorable government policies, increasing investments in plant-based food research, and a strong focus on health and wellness. The presence of leading food companies and a high level of consumer awareness about dietary restrictions contribute to the market's dominance in this region.
The Asia Pacific region is expected to witness the highest growth rate due to rapid urbanization, increasing health consciousness, and growing demand for vegan and vegetarian food products. Countries like China, India, and Japan are at the forefront of this growth, with expanding food industries and a growing focus on dietary inclusivity.
In Europe, the market for Egg Substitutes is driven by strong regulatory support for allergen-free and plant-based foods and a well-established food industry. Countries like Germany, France, and the UK are key contributors to the market, with significant investments in food technology and a strong emphasis on sustainability and health.

Report Highlights

• In-Depth Comparative Assessment of Top 20 Markets in the Egg Substitutes Industry: Comparative assessment of 20 leading countries highlighting the total addressable market, opportunities, lucrative segments and competitive positioning of leading companies.
• Comprehensive Historical, Present, and Future Analytics of the Egg Substitutes Market: A deep dive in the historical (2020-2023), current (2024) and forecast (2025-2030) market analytics of Egg Substitutes Market.
• Detailed Analysis of Egg Substitutes Market By Application, Ingredients, and Form Across 20 Countries
• Gain insights specific to new entrants or new market areas to tap: The study provides detailed market entry strategies, including analysis of barriers to entry, pricing strategies, opportunities, trends, drivers, and challenges and product positioning using the Opportunity Portfolio Matrix (OPM)
• Strategic Industry Movements: Tracking Competitive Developments and Key Players in the Market: The report covers competitive strategies, mergers & acquisitions, new developments, future plans and market share analysis of ~15 top companies

Key Companies

• Cargill Inc.
• Glanbia Plc.
• Danone Nutricia
• Fiberstar Inc.
• Kerry Group
• Tate and Lyle
• Ingredion Inc.
• Archer Daniels Midland Company
• MGP Ingredients
• DuPont Nutrition & Health

Market Segmentation

By Application

• Dressings & Spreads
• Savories
• Bakery & Confectionery
• Sauces
• Other Applications

By Ingredients

• Starch
• Dairy Proteins
• Soy-based Products
• Algal Flour

By Form

• Dry
• Liquid

By Geography

• Americas (The United States, Canada, Brazil, Mexico, Rest of Americas)
• Europe (United Kingdom, Germany, France, Italy, Spain, Turkey, Russia, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Singapore, Indonesia, Rest of Asia Pacific)
• Middle East and Africa (GCC, Israel, South Africa, Rest of Middle East and Africa)

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