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The Business Research Company's Egg Replacers Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.” - The Business Research Company
LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire / -- The egg replacers market has experienced robust growth in recent years, expanding from $1.37 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rising egg prices, growing consumer concerns, egg shortages and supply chain disruptions, dietary restrictions and allergies, sustainable and ethical consumption, functional properties of egg replacers, demand for allergen-free products, consumer education on egg replacers.
What Is The Estimated Market Size Of The Global Egg Replacers Market And Its Annual Growth Rate?
The egg replacers global market is projected to continue its strong growth, reaching to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to expansion of plant-based diets, continued rise in veganism, advancements in protein alternatives, economic considerations in food production, expansion of convenience foods, demand for egg-free baking, enhanced flavor and texture mimicry. Major trends in the forecast period include technological innovations, clean label ingredients, technological advancements in food science, collaboration with culinary experts, digital marketing and e-commerce.
Explore Comprehensive Insights Into The Global Egg Replacers Market With A Detailed Sample Report:
Growth Driver of The Egg Replacers Market
Increasing adoption of a vegan diet in developed economies is expected to propel the growth of the market going forward. A vegan diet consists of plants (such as vegetables, grains, nuts, and fruits) and plant-based foods. A vegan diet is increasing mainly due to the health benefits contributing to healthy lifestyles. Egg replacers often include plant-based ingredients that offer health benefits and serve the needs of people on vegan diets.
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Which Market Players Are Driving The Egg Replacers Market Growth?
Key players in the market include Cargill Incorporated, Archer Daniels Midland Company, Arla Foods Ingredients Group P/S, DuPont de Nemours Inc., Kerry Group plc., Ingredion Inc., Glanbia Plc., Tate & Lyle Plc., Puratos corporation, MGP Ingredients Inc., Fiberstar Inc., Florida Food Products LLC, All American Foods Inc., Orgran Health & Nutrition, Ener-G Foods, Wacker Chemie AG, E.I. du Pont de Nemours and Company, Follow Your Heart, Hampton Creek Foods Inc., Terra Vegane, The Neat Company, Bob's Red Mill Natural Foods Inc., Dr. Oetker GmbH, Pinnacle Foods Group LLC, Hodgson Mill Inc., Edward & Sons Trading Co. Inc., Namaste Foods LLC, Enjoy Life Foods, Daiya Foods Inc., KMC Ingredients.
What Are The Key Trends That Influence Egg Replacers Market Share Analysis?
Product innovations are the key trend gaining popularity in the egg replacers market. Major companies operating in the market are developing innovative egg replacers with new ingredients and wide applications such as clean-label egg substitutes, organic products, and unique ingredients to sustain their position in the market.
How Is The Global Egg Replacers Market Segmented?
1) By Ingredients: Dairy Proteins, Starch, Algal Flour, Soy-Based Products, Other Ingredients
2) By Form: Dry, Liquid
3) By Source: Plant-Based, Animal-Based
4) By Distribution Channel: Supermarkets, Convenience Stores, Online Platforms, Retail Stores
5) By Application: Bakery And Confectionery, Savories, Sauces, Dressings And Spreads, Other Applications
Geographical Insights: North America Leading The Egg Replacers Market
North America was the largest region in the egg replacers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the egg replacers global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Egg Replacers Market Definition
The egg replacer refers to a commercial product designed specifically to replace eggs in baking or is also defined as an ingredient or combination of ingredients that work to mimic the action of eggs in a recipe. The egg replacers commonly cater to those customers who have an allergy to egg products.
Egg Replacers Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global egg replacers market report covering trends, opportunities, strategies, and more
The Egg Replacers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on egg replacers market size, egg replacers market drivers and trends, egg replacers market major players, egg replacers competitors' revenues, egg replacers market positioning, and egg replacers market growth across geographies. The egg replacers global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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Oliver Guirdham
The Business Research Company
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