As per the recent report from FMI, the sales of egg replacers are projected to exceed a valuation of US$ 1.5 billion in 2032, indicating a growth rate of approximately 5.4% until the conclusion of 2032.
Global food preferences have undergone significant changes in the past decade, with a notable increase in the popularity of vegan food. This shift is influenced by rising health concerns associated with meat-based diets in various countries. Responding to this trend, manufacturers are introducing egg replacement products with comparable nutritional benefits within plant-based food networks. Additionally, issues within the egg supply chain, such as instances of tainted eggs, have rendered the egg market more vulnerable, prompting consumers to explore egg substitutes.
Contaminated egg incidents, such as the presence of a pesticide known as fipronil, have been identified in eggs used in food chains and the food processing industry. This has constrained egg sales, as fipronil is prohibited in the preparation of food products due to its potential hazards to human health when consumed in significant quantities. Consequently, the anticipation of increased adoption and sales of egg substitutes is expected over the forecast period.
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List Of Key Players Covered in Egg Replacer Market are:
- Corbion NV
- Tate & Lyle Plc.
- Glanbia plc.
- Ingredion Incorporated
- MGP Ingredients
- Ener-G Foods, Inc.
- Dupont De Nemours and Company
- Fiberstar
- Puratos
- Danone Nutricia
“Rising demand for functional food ingredients is anticipated to boost sales of egg replacement products among the vegan population. In addition to this, growing demand for vegan alternatives across the globe will widen the scope of adoption of egg replacers in the forthcoming years,” says an FMI analyst.
Key Takeaways:
- Based on form, sales of dry egg replacers will continue gaining traction through 2032.
- In terms of ingredients, incorporation of dairy proteins in egg replacers will remain high.
- By applications, demand in the baking and confectionery segment is anticipated to increase at a considerable pace.
- The North America egg replacer market is expected hold 48.2% of the total market share by 2032.
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Competition Landscape
Some of the leading companies offering egg replacers are Corbion NV, Tate & Lyle Plc., Glanbia plc., Ingredion Incorporated, MGP Ingredients, Ener-G Foods, Inc., Dupont De Nemours and Company, Fiberstar, Puratos, and Danone Nutricia.
Key players operating in the global egg replacer market are focusing on reaching a large consumer base by implementing various strategies such as product innovations, marketing & promotional activity, strengthening distribution channels, and adopting sustainable production. For instance:
- Zero Egg, an egg replacement producer, raised $5 million in a Series A fundraising round headed by Powerplant Ventures in November 2020. Zero Egg’s plant-based product is made from a blend of plant proteins and is aimed for foodservice and food makers. It is said to taste, look, and operate like an average egg.
Get Valuable Insights into Egg Replacer Market
FMI, in its new offering, provides an unbiased analysis of egg replacer presenting historical demand data (2017-2022) and forecast statistics for the period from (2022-2032). The study divulges compelling insights on the demand for egg replacer based on form (dry and liquid), ingredient (dairy proteins, starch, algal flour, and soy-based products), application (biscuits, chocolates, cakes, dressings & spreads, mayonnaise, pasta, noodles, and breads), across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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