Globally, egg replacers market will witness significant growth due to increasing application in food industry. Market Research Future.
Pune, India -- (SBWIRE) -- 12/07/2018 -- Market Definition:
Globally, egg replacers market will witness significant growth due to increasing application in food industry. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on 'Global Egg Replacers Market Research Report- Forecast to 2023' that the market will demonstrate an exceptional CAGR 6% during the forecast period.
Egg shortage crisis due to avian influenza coupled with a complex egg handling and storage is driving the demand of egg replacers during the forecast period. Easy availability of resource, rising economic conditions in developing nations and rising demand for clean label products are factors encouraging new players to venture into the global egg replacement market. Established players in the global egg replacement market are concentrating on new product development and product launches.
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With changing dietary patterns, growing consumer health awareness and increasing demand of plant based ingredients, has encouraged the use of egg replacers in preparation of healthy and nutritional food & beverage products. In the food industry, flaxseeds are used in formulations of various functional products and are considered as one of the most promising markets and it has motivated research & development of new products. This trend supports the development of modern products such as frozen, low-fat, organic, and gluten-free foods, where egg replacers can be used as the main or co-ingredient.
The leading market players in the global egg replacers market primarily are Puratos (U.S.), Archer Daniels Midland Company (U.S.), Ingredion Incorporated (U.S.), Tate & Lyle PLC (U.K.), Arla Foods (Denmark), E.I. Dupont De Nemours and Company (U.S.), and Corbion (Netherlands)
North America dominates the Fortified beverages market followed by Europe
Asia-Pacific is the fastest growing region in the fortified beverages market. India and China has shown huge potentials for fortified beverages market share during reviewed period of 2017-2023
The global egg replacer market has been divided into type, form, application, and region.
On The Basis Of Type: Applesauce, Baking soda & Vinegar, Fruit Purees, Chia Seeds & Flaxseeds, and others.
On The Basis Of Form: Powder, Liquid, and Others.
On The Basis Of Application: Bakery & Confectionery, sweet & savory snacks, Sauces, spreads & dressing, and others.
On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.
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The global egg replacers market is spread out in throughout region of North America, Europe, China and Asia Pacific. The Asia Pacific holds the major market share followed by North America. Europe region is projected to grow at the fastest rate in the coming years owing to increasing demand for natural and plant based food additive. Due to the cheap raw materials & low production costs as well as less stringent regulations Asia-Pacific region is in a better position to produce egg replacers at more competitive prices than developed countries in European and North American region.