The growth in inclination of consumers toward low fat and low cholesterol food products is fueling the demand for egg replacers, as increase in the prevalence of diseases such as cardiovascular diseases and diabetes has been seen in major Asia-Pacific countries.
Northrook, IL -- (SBWIRE) -- 10/24/2019 -- The egg replacers market, estimated at USD 949.8 million in 2017, is projected to grow at a CAGR of 6.2%, to reach USD 1,283.0 million by 2022. Increase in awareness of consumers regarding healthy eating habits is fueling the demand for egg replacers. Egg replacer products are used in various food applications owing to their properties such as emulsification, better binding, and foaming. The market is majorly driven by factors such as increase in vegan diet and avian flu outbreak in major geographical regions such as North America and Europe. The growing demand for egg replacers in Asia-Pacific countries are paving new opportunities for egg replacers market. However, the perception of customers toward taste of egg replacers may act as a restraining factor for egg replacers in coming years as some of the consumers are disappointed by the taste and variety of egg replacers offered in the market.
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Leading players profiled in this report:
- Cargill (U.S.)
- E. I. du Pont de Nemours and Company (U.S.)
- Archer Daniels Midland Company (U.S.)
- Arla Foods (Denmark)
- Kerry Group (Ireland)
- Ingredion Incorporated (U.S.)
- Glanbia Plc (Ireland)
- Tate & Lyle (U.K.)
- Corbion (Netherlands)
- MGP Ingredients (U.S.)
Sauces, dressings & spreads is projected to be the fastest-growing segment in the global egg replacers market
On the basis of application, sauces, dressings & spreads is projected to be the fastest-growing subsegment during the review period. Egg replacer is low fat and protein rich ingredient that is used in various sauces and spreads. Growth in awareness among consumers toward adverse effects of eggs, such as high fat and cholesterol content, which may lead to the various diseases such as cardiovascular diseases and various functions such as better emulsion and mouthfeel effect offered by egg replacers have enabled food processing companies to increase the usage of egg replacers in various sauces and dressings applications. This trend has resulted in a massive demand for egg replacers in the food industry, which is expected to contribute to the growth of egg replacers market in the coming years.
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North America is projected to be the largest region throughout the forecast period
North America acquired the largest share of egg replacers market in 2016 owing to the increase in demand for egg replacer in bakery and savory industries due to the outbreak of avian influenza in this region. The U.S. is expected to lead the market for egg replacers in the North American region for the next five years, as a result of rise in threat of flu-affected eggs and growth in awareness among consumers about healthy diet habits.
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