Egg Replacers Market Overview, Competitive Analysis, Key Trends And Outlook 2024 To 2033

The Business Research Company recently released a comprehensive report on the Global Egg Replacers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The egg replacers market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rising egg prices, growing consumer concerns, egg shortages and supply chain disruptions, dietary restrictions and allergies, sustainable and ethical consumption, functional properties of egg replacers, demand for allergen-free products, consumer education on egg replacers.

The egg replacers market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to expansion of plant-based diets, continued rise in veganism, advancements in protein alternatives, economic considerations in food production, expansion of convenience foods, demand for egg-free baking, enhanced flavor and texture mimicry. Major trends in the forecast period include technological innovations, clean label ingredients, technological advancements in food science, collaboration with culinary experts, digital marketing and e-commerce.

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Market Drivers and Trends:

The rising number of people with food allergies is expected to propel the growth of the egg replacers market going forward. Food allergies refer to the abnormal immune system response to specific proteins found in certain foods when individuals consume it. Egg replacers are used to address food allergies, particularly egg allergies, by providing alternative ingredients that mimic the functional properties of eggs in various food products. For instance, in January 2021, according to Centers for Disease Control and Prevention, a US-based health agency, approximately one-third of adults that is 31.8% of adults had a seasonal allergy, eczema, or food allergy in 2021.Therefore, rising number of people with food allergies is driving the growth of the egg replacers market.

Product innovations are the key trend gaining popularity in the egg replacers market. Major companies operating in the market are developing innovative egg replacers with new ingredients and wide applications such as clean-label egg substitutes, organic products, and unique ingredients to sustain their position in the market. For instance, in February 2022, Plant B, a Germany-based producer of healthy plant-based frozen meals announced the launch of the world's only lupin-based liquid egg product. The innovative vegan egg alternative is made from sweet lupins which are an excellent source of nutrition. The company has imitated the functionality and structure of conventional chicken-laid eggs to make them look like regular eggs while saving 50% of the calories. The product will be sold as a ready-to-cook fresh product.

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Major Key Players of the Market:

Cargill Incorporated, Archer Daniels Midland Company, Arla Foods Ingredients Group P/S, DuPont de Nemours Inc., Kerry Group plc., Ingredion Inc., Glanbia Plc., Tate & Lyle Plc., Puratos corporation, MGP Ingredients Inc., Fiberstar Inc., Florida Food Products LLC, All American Foods Inc., Orgran Health & Nutrition, Ener-G Foods, Wacker Chemie AG, E.I. du Pont de Nemours and Company, Follow Your Heart, Hampton Creek Foods Inc., Terra Vegane, The Neat Company, Bob's Red Mill Natural Foods Inc., Dr. Oetker GmbH, Pinnacle Foods Group LLC, Hodgson Mill Inc., Edward & Sons Trading Co. Inc., Namaste Foods LLC, Enjoy Life Foods, Daiya Foods Inc., KMC Ingredients

Egg Replacers Market 2024 Key Insights:

• The egg replacers market size is expected to see strong growth in the next few years. It will grow to $1.95 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Rising Adoption Of Vegan Diets Spurs Growth In Egg Replacers Market
• Plant B Introduces Lupin-Based Liquid Egg As Innovative Vegan Alternative In Egg Replacers Market
• North America was the largest region in the egg replacers market in 2023

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