The Global Egg Replacement Ingredients Market is expected to reach USD 1,152.0 million by 2022, growing at a CAGR of 5.7% between 2017 and 2022, according to the latest study from Meticulous Research.
The increase in vegan, vegetarian, and flexitarian diets, growing interest in natural, plant-based ingredients, and safety concerns over recent outbreaks of Avian influenza are the main drivers of the global egg replacement market. The market, however is said to be held back by criticism – from both industrial users and consumers – over flavour, taste, and texture when compared to real eggs.
According to the report, the egg replacement ingredients market is dominated by dairy proteins, followed by soy-based products.
In 2016, the North American region accounted for the largest share in the global egg replacement ingredients market, followed by Europe, and Asia-Pacific region. Asian countries are expected to have the fastest growth the forecast period, owing to the large population abstaining from animal products, increasing spending capacity, and growing awareness about the health problems associated with eating animal-based products.
The publication also identifies the key players in the global egg replacement ingredients market, such as Archer Daniels Midland Company, Cargill, MGP Ingredients, Nestlé, Corbion Group, E.I. Dupont, Ener-G Foods, Fiberstar, Inc., Florida Food Products, Glanbia, Ingredion Incorporated, Eden Foods, Organic Valley, and American Soy Products.