Egg Replacers Market Scenario
The global Egg Replacers Market is profiled in detail in the latest report from Market Research Future (MRFR), which profiles the market’s leading growth drivers and restraints, major players, and key segments. Thus, a comprehensive view of the global Egg Replacers Market is provided in the report to readers.
Egg Replacers are used in various culinary applications to replace eggs in their role as an emulsifier. Eggs play a vital role in several preparations, especially bakery preparations, by making the product more consistent and stable. However, the growing popularity of the vegan movement and the growing demand for eggless alternatives from vegetarian demographics is likely to drive the global Egg Replacers Market over the forecast period. Egg replacers can be of various types but provide a similar function by enabling solid consistency in the respective product.
The rising prices of eggs and the outbreak of avian influenza have also held back the demand for eggs, driving the global market for egg replacers. The health implications of avian influenza have led to a sturdy growth in the demand for egg replacers.
In March 2019, Grupo Mantiqueira, the largest egg producer in South America, came up with a pea protein-based egg replacer to cater to the growing vegan demographic in Brazil. The product, called N.Ovo, is aimed at fulfilling the growing demand for plant-based ingredients in South America.
The global Egg Replacers Market is segmented based on raw material/source, form, application, and region in the report.
The Egg Replacers Market has been segmented based on raw material into dairy protein, starch, soy-based products, algal flour and yeast extracts, and others. Dairy protein dominates the global Egg Replacers Market at present but is likely to be overshadowed by the soy products segment over the forecast period, as soy products can also be consumed by the lactose intolerant demographic. The growing prevalence of lactose intolerance is likely to be a major driver for the soy-based products segment over the forecast period.
Based on application, the Egg Replacers Market is segmented into bakery and confectionery, savories and snacks, sauces and spreads, and others. The bakery and confectionery segment is likely to dominate the global Egg Replacers Market over the forecast period due to the growing demand for vegan products in the bakery products industry.
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Asia Pacific is likely to dominate the global Egg Replacers Market over the forecast period due to the cheap raw material and production costs in the region. The relatively lax regulations in the region are also conducive to steady growth of the egg replacer market. The widespread prevalence of avian influenza in Asia Pacific, especially Southeast Asia, is also likely to be a major driver for the Egg Replacers Market in the region over the forecast period.
Europe is expected to exhibit the fastest growth rate over the forecast period due to the growing demand for plant protein products in the region and the growing popularity of veganism.
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