The global Egg Replacement Ingredients market size is expected to reach USD 1817.7 million by 2030 and exhibit a CAGR of 5.3% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing consumer demand for plant-based and vegan food products, the growing prevalence of food allergies and dietary restrictions, cost-effectiveness and stability of egg replacement ingredients are fueling the Market's growth.
Westford USA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Egg Replacement Ingredients market, rising popularity of plant-based and vegan diets, increasing variety of egg replacement options, growing demand for clean label and natural ingredients, innovation in ingredient formulation and functionality, expanding use of alternative protein sources, rising consumer interest in sustainable and cruelty-free food options, development of allergen-free and allergy-friendly egg replacements, incorporation of plant-based proteins in egg replacement ingredients, the emergence of novel ingredients and technologies are the market trends promoting the growth.
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- Pages - 242
- Tables - 86
- Figures - 75
Egg replacement ingredients are substances that can be used to replace eggs in food recipes. They are typically made from plant-based proteins, starches, or hydrocolloids. Egg replacement ingredients can provide similar functionality to eggs in terms of binding, leavening, and moisture retention.
Prominent Players in Egg Replacement Ingredients Market
- Glanbia Nutritionals
- Ginger Products
- Nutra Ingredients
- Sensient Technologies
- Texture Technologies
- Universal Foods
- Vital Proteins
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Plant-based Ingredients Type Demand to Grow Substantially in the Forecast Period
Plant-based ingredients dominated the global market owing to the high demand. It is also perceived as a healthier alternative to animal-based products due to their lower cholesterol and saturated fat content. This aligns with consumers' growing focus on health and wellness, leading to a higher demand for plant-based egg replacements.
Bakery and confectionery are the Leading Application Segment
In terms of application, the bakery and confectionery are the leading segments due to their versatile use in baking. In addition, the increasing popularity of vegan and plant-based diets has led to a growing demand for vegan baked goods. Egg replacement ingredients offer a viable solution to replace eggs in these products, making them suitable for consumers following vegan or vegetarian lifestyles.
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Europe is the leading Market Due to the Stringent Regulations
Region-wise, Europe is one of the largest growing markets with a huge emphasis for plant-based products. The European countries have implemented strict regulations and standards for animal welfare in food production. These regulations have led to a higher demand for alternative ingredients that can replace eggs in various food products, encouraging the adoption of egg replacement ingredients in the market.
A recent report thoroughly analyzes the major players operating within the Egg Replacement Ingredients market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Egg Replacement Ingredients.
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Key Developments in Egg Replacement Ingredients Market
- In February 2023, Ingredion acquired Glanbia Nutritionals' egg replacement ingredient business for $300 million. This acquisition expands Ingredion's product portfolio and geographic reach in the egg replacement ingredient market.
- In March 2023, Kerry acquired Fiberstar's egg replacement ingredient business for $200 million. This acquisition strengthens Kerry's position in the global egg replacement ingredient market.
Key Questions Answered in Egg Replacement Ingredients Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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