The report “Egg Replacement Ingredient Market: Global Industry Analysis and Opportunity Assessment, 2016-2026” by “Future Market Insights,” deals with the global market for egg replacement products. Accordingly, the annual growth rate in the forecast period is expected to be 5.8%.
According to the report: high profitability margins; easy availability of resources; increasing economic opportunities in developing countries; and food manufacturers’ focus on offering clean label products, are factors encouraging companies to enter the global market for egg substitutes. Due to complicated processing and production processes in the egg industry, market demand for alternatives will continue to grow in the near future.
In addition, rising prices for eggs are likely to weaken the growth of the global market. More and more consumers are choosing products with natural ingredients based on plants. This is driving the demand for egg substitutes in the world market. The study also takes into account past events. For example, avian influenza has caused a temporary shortage of eggs. The animal welfare organisation PETA also recently published a study on eggs and this is likely to have also caused an impact.
The market report presents some of the leading players that dominate the global market for egg substitutes. The companies listed in the report include Corbion NV, Glanbia Plc, Tate & Lyle Plc and Archer Daniels Midland Company. These companies focus on introducing new products to meet the growing demand from certain industries such as the bakery industry.