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The Sunny Side of Eggless Cooking: Exploring the Egg Substitute Market
The global egg substitute market is expected to develop quickly, with a projected CAGR of 17.5% taking it to $654.3 million by 2033. Because of their nutritional advantages, egg alternatives are becoming more and more popular. They are low in cholesterol and high in vitamins B12 and A. The popularity of wholesome foods and greater customer knowledge of these advantages are fueling this industry’s expansion. The global egg substitute industry is anticipated to grow even more in the upcoming years due to a lack of eggs.
The global egg substitute market size is projected to surpass a valuation of US$ 118.5 Million in 2023. It is estimated to reach a valuation of US$ US$ 654.3 million by 2033. During the forecast period from 2023 to 2033, the market is expected to record an astounding CAGR of 17.5%.
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Like real eggs, egg substitutes are packed with vitamins, including Vitamin B12 and Vitamin A. They are also free of cholesterol and gluten. This sector is growing as a result of customers' growing knowledge of the nutritional advantages of egg substitutes and demand for wholesome food. The global market for egg substitutes is expected to grow dramatically over the next several years as a result of the lack of eggs.
Over the next several years, the market may expand as a result of the rising demand for products made from vegetables and the high price of eggs.
North America is anticipated to maintain its dominance during the predicted period. Customers are under pressure to lead healthy lifestyles because to the rising prevalence of health problems including diabetes, high blood pressure, and obesity. They enjoy non-GMO, gluten-free, and plant-based products. In response to this demand, producers are developing and releasing gluten- and GMO-free products.
The major businesses in the area are probably going to enhance their R&D activities, which would raise the market’s potential for growth.
Key Takeaways:
In 2018, the global egg substitute market size stood at US$ 984.5 Million.
The market size stood at US$ 1,123.60 Million in 2022.
The market size increased at a CAGR of 3.4% from 2018 to 2022.
The dry segment under form captured 72.40% market share in 2022.
In 2022, the animal-based source segment captured 36.70% market share.
The dairy protein segment under ingredients accounted for 37.80% market share in 2022.
In 2022, the bakery & confectionery segment occupied 34.60% of the market share worldwide.
The United States egg substitute market accounted for 29.0% of the total market share in 2022.
The United Kingdom egg substitute market captured a 6.0% market share in 2022.
In 2022, India’s egg substitute market accounted for 3.6% of the global market share.
Recent Developments Observed by FMI:
In October 2022, AcreMade introduced Plant-based Egg Substitute, a product that replaces eggs by using yellow field peas, a component of PURIS. This powder is intended for baking or scrambling and is shelf-stable.
In November 2022, Nestle’ introduced a new plant-based egg substitute in Latin America; the first batch of this product is manufactured from recycled peas. The new shelf-stable plant-based protein powder blends go well with egg dishes without sacrificing nutrition or price.
In February 2022, Plant-B introduced a brand-new liquid vegan egg alternative based on Lupin. The company asserts that its egg substitutes have 50% few calories while yet being equal to regular eggs.
In March 2021, Evo Foods introduced the first liquid vegan egg alternative in Asia. The business asserts that its egg substitutes have higher protein content than regular eggs.
Key Players:
Cargill Inc.
DuPont Nutrition & Health
Kerry Group
Glambia Plc.
Tate and Lyle and Ingredion Inc.
Corbion Puratos
Danone Nutricia
Flordia Food Products LLC
FIberstar Inc.
MGP Ingredients
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https://www.futuremarketinsigh....ts.com/reports/egg-s
Market Segmentation:
By Form:
Dry
Liquid
By Source:
Plant
Animal
By Ingredient:
Dairy Proteins
Starch
Algal Flour
Soy-based Products
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