DUBAI, United Arab Emirates, Feb. 28 2022 (GLOBE NEWSWIRE) — The egg substitutes market should reach US$1.1 billion in 2022. The global egg substitutes market is expected to grow at a pace 5.9% CAGRreaching US$2.1 billion by 2032. Rising preference for natural ingredients in packaged foods and baked goods is expected to drive sales in the market. Egg substitutes can be used in place of eggs in recipes and baked goods. They are mostly preferred by vegans, however, they are sometimes preferred by others looking for flavor variations.
|Estimated egg substitutes market size in 2022||US$1.1 billion|
|Projected size of the egg substitutes market in 2032||US$2.1 billion|
|CAGR based on Egg Substitutes Market Value (2022 to 2032)||5.9% CAGR|
|Egg Substitutes Market Collective Value Share: Top 3 Countries (2022)||33.6%|
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The use of egg substitutes has no effect on the taste or appearance of the finished product. The increasing application of egg substitutes in numerous products such as mayonnaise, chocolates, ice cream, custard, cakes, muffins, cookies, and other baked goods is propelling the market.
These substitutes are as nutritionally beneficial as eggs, being cholesterol-free, gluten-free, and rich in vitamins A and B12, among other nutrients. Rising awareness about the nutritional benefits of egg substitutes, along with the trend of eating healthy foods, complements the growth of the market.
Key points to remember:
- Based on the form, the liquid segment is expected to account for around 46.7% of the total market share during the forecast period.
- The North America egg substitutes market is expected to grow at a CAGR of 5.6% through 2032.
- Sales in the egg substitute market in East Asia are expected to account for 18.9% of global egg substitute consumption through 2032.
- The application of egg substitutes in the bakery industry is expected to hold a market share of over 41.5% during the forecast period.
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|Historical data available for||2017-2021|
|Market analysis||Million US dollars for value|
|Main countries covered||United States, Canada, Mexico, Brazil, Peru, Argentina, Chile, Colombia,
Rest of Latin America, Germany, Italy, France, UK, Spain, India,
GCC, South Africa, Rest of EMEAI, ANZ, SEA, Japan, China,
|Key Segments Covered||Form, source, ingredient, application, distribution channel and region|
|Profiled Key Companies||• Cargill Inc.
• DuPont Nutrition and Health
• Kerry Group
• Glambia Plc.
• Tate and Lyle and Ingredion Inc.
• Corbion Puratos
• Danone Nutricia
• Florida Food Products LLC
• Fiberstar, Inc.
• PGM ingredients.
|Report cover||Market forecasting, company share analysis, competitive intelligence,
DROT analysis, market dynamics and challenges, and
Strategic growth initiatives
|Customization and Pricing||Available on demand|
Explore more valuable insights
Future Market Insights, in its new report, offers an unbiased analysis of the global egg substitutes market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study offers compelling insights based on Egg Substitute Market by Form (Dry and Liquid), Ingredient (Milk Protein, Starch, Seaweed Meal and Soy Product), Application (Savory, Bakery, Confectionery , sauces, dressings and spreads) and region in seven major regions of the world.
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Some of the key players in the global egg substitutes market include Corbion, DuPont Nutrition & Health, Kerry Group, Florida Food Products, Glanbia Plc, MGP Ingredients, Archer Daniels Midland Company, Tate and Lyle and Ingredion Inc., Ingredion Incorporated, Cargill Inc., LLC Fiberstar Inc., and others
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