Pune, India -- (SBWIRE) -- 11/12/2018 -- The Egg Replacement Ingredients Market was worth USD 966 Million in 2016 and is projected to reach around USD 1373.4 Million by 2023. The Egg Replacement Ingredients Market is estimated to grow at a CAGR of 5.02% during the forecast period 2017-2023. The North America region accounted for the largest market share of approximate 51% in 2016 and is expected to remain dominant through the forecast period. The Asia-Pacific region is expected to grow at highest CAGR of 5.44% during the forecast period.

Make an Inquiry for purchasing this report @ https://www.infiniumglobalresearch.com/reports/enquiry/1052

The global food industry has experienced a paradigm shift over the past couple of decades, with more number of people/consumers switching to a vegan diet over non-vegetarian diet. In its publication, One Green Planet identified that over 6% of the population in the U.S. is vegetarian owing to the adverse health effects of non-vegetarian diet on an individual's health. Moreover, a large number of NGOs are promoting use of vegan diet over non-vegetarian diet, a many of these NGOs site cruelty in handling the animals and birds in a dairy farm.

The outbreak of several diseases from birds is affecting the global consumption of eggs worldwide. Consumers are now looking for egg alternatives as the source of their daily nutritional requirements. The use of dairy based products, soy based and starch based products has grown significantly over the past few years. The global egg replacement market is projected to be driven by factors such as increase in the number of vegans, outbreak of diseases associated with birds, and increasing awareness about the healthy vegetarian diet and growing health concerns worldwide.

The growth in this market is primarily driven by factors such as increasing number of vegans, growing health concerns and outbreak of birds associated diseases such as bird flu, and avian influenza. Furthermore, rise in initiatives by non-profit/ non-government organizations to promote vegetarian diet are likely to support the growth in the world egg replacement ingredients market worldwide. The rising egg prices and shortage of eggs in 2016-2017 has augmented the demand for egg replacement ingredients in industrial applications such as bakery and confectionery, sauces & dressings manufacturing among others. On the other hand, preference for original egg taste and incidences of contamination are among the restraining factors affecting the growth of egg replacement ingredients market worldwide over the forecast period. The emerging markets of Asia-Pacific such as China and India are likely to provide significant opportunities for egg replacement ingredient manufacturers owing to growing packaged food industry and growing egg prices. Moreover, growing awareness about the use of non-egg or non-veg ingredients in the bakery items is likely to provide opportunities over the forecast period.

The global food consumption patterns have changed drastically; the number of consumers switching from non-vegetarian diet to vegetarian only is increasing dramatically. In addition, changing supply conditions of eggs and increased incidences of bird related diseases have widened the supply and demand gap. This, as a result, is expected to drive the demand for starches, soy based products, whey and casein in various industrial applications in the years to come.

For More Details Get Free Sample Pages of this Research Report@ https://www.infiniumglobalresearch.com/reports/sample-request/1052

Major Key Players mentioned in this Premium Report

The report provides profiles of the companies in the global egg replacement ingredients market such as, Arla Foods, E.I. Dupont De Nemours And Company, Archer Daniels Midland Company, Ener-G Foods, Inc., Corbion Group, Glanbia Plc, Fiberstar, Inc., Ingredion Incorporated, Florida Food Products, LLC, and Cargill, Inc.