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NEWARK, Del, Oct. 03, 2022 (GLOBE NEWSWIRE) — As per the evaluation of Future Market Insights, the worldwide egg alternative ingredients market is projected to have a moderate-paced CAGR of 5.8% in the course of the forecast period. The present valuation of the market is US$ 1,228.36 million in 2022. The market value of the egg alternative ingredients market is anticipated to succeed in a high of US$ 2,138.33 billion by the yr 2032. A historical CAGR of three.4% has been recorded as per the statistics in the bottom yr by expert analysts at Future Market Insights.

An unprecedented surge has been witnessed within the sales of egg alternative ingredients over the past few years, owing to rising veganism and vegetarianism in various parts of the world. Obesity rates are rising all all over the world, and health concerns, including hypertension, diabetes, asthma, and others, are on the rise. Raising consumer health awareness and the medical fraternity is a significant fueling the expansion of egg alternative ingredients.

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The experts at FMI have analyzed that rising health concerns for non-veg food encourage consumers to go for vegan diets. It has been observed that top egg consumption can lead to varied heart-related diseases. In consequence, persons are choosing egg alternatives. The egg alternatives also offer many functional features to the food they’re added in, comparable to binding, foaming, aeration, and emulsification.

The analysts have revealed that egg alternative ingredients facilitate the reduction of egg content within the food without compromising the taste, appearance, and dietary advantages. They’re being increasingly utilized across various applications, comparable to bakery products. Nonetheless, the rise in the fee of the ultimate product will likely deter the market’s expansion in the course of the forecast period. 

Key Takeaways from the Egg Alternative Ingredients Market

  • North America is predicted to stay the dominant marketplace for egg alternative ingredients with a share of 47.8% between 2022-2032.
  • North America is estimated to advance at a CAGR of seven% in the course of the forecast period.
  • Europe is projected to account for a moderate-paced CAGR of 6.5% through 2032.
  • The Mayonnaise segment is more likely to domineer within the product type category with a worth share of 38.2% during 2022-2032.

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“Increasing prevalence of bird flu and influenza, high egg prices attributable to egg shortage, and rising awareness a few healthy lifestyle are more likely to create lucrative growth opportunities for the manufacturers within the egg alternative ingredients market.” – Says an FMI analyst.

Competitive Landscape within the Egg Alternative Ingredients Market

To expand their global presence, players are investing in mergers and acquisitions. Players are also investing in research and development to expand their product portfolios.

Key players operating available in the market are constantly introducing recent products to cater to the rising demand from various industries. They’ve adopted various organic and inorganic strategies comparable to mergers and acquisitions, advanced product development, and collaborations to realize a competitive edge available in the market.

Additionally it is identified that food manufacturers across the globe are adopting egg alternative ingredients on large scales with a view to coup up with the rising egg prices and egg shortage.

Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G Foods, Inc., Natural Products, Inc., Orchard Valley Foods Limited, Puratos Group, TerraVia Holdings, Inc. are a number of the key players available in the market.

Recent Developments within the Egg Alternative Ingredients Market

  • In February 2018, Korner Starkem a German Company, launched a clean-label egg replacer, REGG-EX. The REGG-EX is produced from chosen quality wheat flour and untreated spring water and could be used for various applications.
  • In January 2018, Puratos, UK, launched the Satin brand with Plain and Chocolate Creamy Vegan Cake Mix.

In January 2020, Noblegen Inc. launched plant-based whole egg powder under their Eunite brand.

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Key Segments within the Egg Alternative Ingredients Market

By Form:

By Ingredient:

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

By Application:

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

By Distribution Channel:

  • Convenience Stores
  • Hypermarkets
  • Departmental Stores
  • Others

Read Full Report @ https://www.futuremarketinsights.com/reports/egg-replacement-ingredient-market

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Evaluation

    1.5. Evaluation and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

Explore FMI’s Extensive Coverage on Food and Beverage Domain:

Egg Substitute Market Share : The egg substitute market is predicted to succeed in US$ 1.1 Bn in 2022. With sales growing at a 5.9% CAGR, the market valuation will reach US$ 2.1 Bn in 2032.

Egg and Egg Products Market Size : The worldwide Egg and Egg Products Market is predicted to succeed in market valuation of USD 12.3 Bn by the yr 2022, accelerating with a CAGR of 7.0% by 2022-2032.

Egg Replacer Market Growth : Egg replacer market size exceeded USD 1.3 Bn in 2022 and is estimated to grow at over 5.4% CAGR between 2022 and 2032.

Egg Emulsifier Market Value : The worldwide egg emulsifier market is predicted to succeed in a market valuation of US$ 216.2 Mn by 2022, with sales growing at a CAGR of 6.5% over the assessment period.

Egg Protein Market Forecast : The worldwide egg protein market is predicted to succeed in a valuation of US$ 8.3 Bn in 2022. Sales of egg protein are expected to extend at a CAGR of 6.7% over the forecast period, reaching US$ 16 Bn by 2032.

About Future Market Insights, Inc.

FUTURE MARKET INSIGHTS, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater Latest York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client rating (4.9/5), we’ve been collaborating with global enterprises of their business transformation journey and helping them deliver on their business ambitions. 80% of the biggest Forbes 1000 enterprises are our clients. We serve global clients across all leading & area of interest market segments across all major industries.

Contact Us:

Future Market Insights Inc.    
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Suite 401, Newark, Delaware – 19713, USA    
T: +1-845-579-5705    
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