Global Egg Replacers Market is worth USD 950 million in 2016 and estimated to grow at a CAGR of 6.1%, to reach USD 1277 million by 2021
Hyderabad, India -- (SBWIRE) -- 03/08/2018 -- The alternative substances that are utilized in the place of eggs in various edible items are known are egg replacers. These help the manufacture replace eggs without having a subsequent change in the taste or texture of the product. It also successfully reduces the cholesterol content in the food products, thereby increasing the nutritional value of the product after all.
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The global Egg Replacers market value is calculated to grow with a CAGR of 6.1% to touch the valuation of USD 1277 million by the end of 2021, from 2016's value of USD 950 million. The increasing proportion of the vegan population in the world is a major driver behind the projected growth of the market revenue.
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The outbreak of various bird-borne diseases like the Bird Flu and Avian Flu has had a positive effect on the expansion of the egg replacers market. This, coupled with the increasing number of diet conscious people choosing non-vegetarian food products is estimated to result in a significant rise in demand for egg replacers market.
Some kinds of egg replacers in the market also act as nutritive supplements to the products by providing essential vitamins or proteins. According to the analysis of the market by Application, the Bakery & Confectionaries segment has provided the biggest share of the global egg replacers market. This is reasoned with the comparatively high cost of various baked goods and bakery products.
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As per the geographical study of the global market, the North America region is calculated to have possessed almost 50% of the global market share. On the other hand, the highest growth rate is ascribed to the Asia-Pacific market in the near future, due to the presence of different untapped markets in the region.
The key players of the global Egg Replacers market encompass Ener-G Foods, Inc., E. I. du Pont de Nemours and Company, Florida Food Products, MGP Ingredients, Arla Foods, Ingredion Incorporated and Orchar Valley Foods Limited.
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