According to the current analysis of Reports and Data, the global Egg Substitute market was valued at USD 973.1 Million in 2020 and expected to reach USD 1,458.5 Million by the year 2028, at a CAGR of 5.29%. Egg replacer is a commercial powdered product developed explicitly as a substitute for eggs in baking, or it may be an ingredient or combination of ingredients that work to replicate the action of eggs in a recipe. The shifting products and interest from eggs to plant-based egg alternatives induced by various factors, including some considerations that are more related to consumers and others that are of remarkable importance to food makers. While many of these factors are arguably crucial to both groups, they have been organized into predominantly consumer-driven considerations and mostly food manufacturer-driven considerations below. Notably, there are virtually no consumers who seek out it as a central component in processed foods. At the same time, there are many kinds of consumers who explicitly seek out egg-free labels.
Growing consumer interest in plant-based diets as plant-based foods are associated with positive health effects and sustainability. Users may seek egg-free options to avoid cholesterol and allergies and to support a sustainable and animal-friendly product, brand, or company. Food allergies egg is one of the most common food allergens. According to the Food Allergen Labeling and Consumer Protection Act (FALCPA), as one of the eight major food allergens, the presence of egg must be published on a food product or on its ingredient statement to inform consumers of its presence in the processed food. The presence of this one component can dissuade consumers from seeking allergen-free options. Food safety Chickens can carry Salmonella bacteria, which can be transferred to eggs even before the shells have formed. Salmonella induces an estimated 1 million cases of foodborne illness in the U.S. annually. Moreover, antibiotic therapy of egg-laying hens has linked with the five developments of antibiotic-resistant strains of Salmonella. Liquid products are typically pasteurized to kill pathogens before they are sold. Still, they pose a risk nonetheless due to their high potential for bacterial contamination and because they exhibit moisture level and nutrient profile that support bacterial growth. Nutrition and health Eggs contain significant levels of cholesterol, unlike plant-based ingredients, which are naturally cholesterol-free. While saturated fat is likely a more prominent contributor to total blood cholesterol levels, dietary cholesterol is still of concern, especially to specific groups of people such as those with familial hypercholesterolemia. Since a food product’s cholesterol content must be labeled on the U.S. Moreover, refrigeration is required for liquid egg products, and frozen storage is needed for frozen egg products.
The research report offers details about leading companies in the global Egg Substitute market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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Key companies operating in the market include: –
- Cargill (U.S.),
- Ingredion Incorporated (U.S.),
- Archer Daniels Midland Company (U.S.),
- Glanbia Plc (Ireland).
The report provides an extensive assessment of the top leading players of the industry and gives valuable insights into the companies controlling the highest share of the overall market. The report further provides details of the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, and brand promotions and products launches, among others. The segment further covers SWOT analysis of each market player and offers key insights into manufacturing and production capacities, product portfolio, market share and revenue growth, and key strategies to help gain an in-depth understanding of the competitive landscape.
Fast-moving consumer goods are also called consumer packaged goods and refer to the products that are in high demand across the globe, sold quickly, and available at cheap prices. Non-durable household goods, packaged foods, toiletries, beverages, over-the-counter medicines, cleaning and laundry products, and less expensive consumer electronics, among others are some major fast-moving consumer goods. COVID-19 pandemic has contributed significantly to the growth of the FMCG industry as it brought forward trends of digitalization and health and environment consciousness. Consumers are looking towards sustainability with increasing focus on the impact of products on the environment and this has led to development of eco-friendly products, manufacturing processes, and packaging. This trend is expected to continue going ahead and significantly drive market revenue growth over the forecast period. Increasing demand for convenience foods due to busy lifestyles, growing purchase of healthy food & beverages, and rising focus on improving customer experience through technological advancements and digitalization are some other factors that can drive market growth over the coming years.
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The report further offers a comprehensive regional bifurcation of the key regions included in the Egg Substitute market along with production and consumption patterns, supply and demand ratio, import/export analysis, revenue contribution, market share and size, and operations of key market players in the region.
Regional Analysis Covers:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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- Dairy Protein
- Algal Flour
- Soy-Based Products
- Bakery& Confectionery
- Sauces, Dressings and Spreads
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