The egg replacers Market is projected to grow at a CAGR of 6.33% to reach US$1,433.310 million by 2025, from US$991.808 million in 2019.
Prevalence of individuals and children with egg allergies
According to the statistics provided by FARE (Food Allergy Research & Education), about 200,000 people require emergency medical care for allergic reactions to food in the US. According to research, it is estimated that approximately 30 million Americans have food allergies including children and 18. Studies suggest that approximately 2.6 million individuals in the US are allergic to eggs. Food allergies are prevalent in other parts of the globe and according to the information provided by Allergy and Anaphylaxis, food allergies are common in Australia, specifically among the younger population, affecting above 80% of infants aged 12 months. So in order to mitigate the risk, the consumption of eggs poses to the individuals, the authorities have released regulations in order to check before consumption of a particular food item whether it contains eggs or not and must not be consumed by allergic individuals. Therefore, these factors are leading to increased demand for egg replacers or egg substitutes and boosting the market growth.
The rising trend of veganism and the awareness among individuals to lead a healthier lifestyle is leading to a surge in the demand for egg replacers.
The awareness among the individuals is rising to cut down the fat and cholesterol content in their diet to lead a comparatively healthier lifestyle. There are fats and cholesterol present in the egg yolk which can lead to ill effects on health. In addition, the rapidly rising trend of veganism in different countries over the globe is gaining popularity and encouraging them to shift to plant-based egg alternatives and also providing an option to the vegetarian communities to consume eggs and reap the health benefits and proteins eggs provide. These factors are therefore leading to an increased demand for egg replacer sand are bolstering the market growth over the forecast period.
The launch of better and advanced varieties of egg replacers with enhanced as excellent product quality and nutritional contents among other properties by existing and new players in different markets are estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product launches are as follows:
The North American region holds a considerable market share and the Asia Pacific region to witness a significant growth
The North American region is expected to hold a considerable share over the forecast period owing to the increasing number of vegan individuals in the countries such as the US and Canada and the simultaneous surge in efforts to increase the awareness of alternative proteins.
The Asia Pacific region is anticipated to witness stable market growth over the forecast owing to the slow-moving trend of veganism. Moreover, there are initiatives being taken by college students in order to support the ongoing trend of veganism and cater to the increasing demand and vegan population in countries such as India. For example, In September 2019, Students from IIT-Delhi, which is one of the most prestigious engineering colleges in India, announced that they have developed a plant-based egg in order to replace the poultry eggs. The egg has been made using moong daal (which are split green gram pulses), is free from cholesterol and gluten. This product was showcased at the Industry Day event being held at IIT-Delhi, which is graced by the presence of over 100 industry players.
|Market size value in 2019||US$991.808 million|
|Market size value in 2025||US$1,433.310 million|
|Growth Rate||CAGR of 6.33% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Form, Application, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Corbion NV, All American Foods, Bob’s Red Mill Natural Foods, Vor Inc., Eat JUST Inc., ORGRAN, Arla Foods Ingredients Group P/S, Ener-G Foods, Inc., Low Protein Connect|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the egg replacers market size by 2025?
A1. The egg replacers market is projected to reach a market size of US$1,433.310 million by 2025.
Q2. What is the size of the global egg replacers market?
A2. Egg Replacers Market was valued at US$991.808 million in 2019.
Q3. What are the growth prospects for the egg replacers market?
A3. The global egg replacers market is projected to grow at a CAGR of 6.33% over the forecast period.
Q4. Which region holds the maximum market share of the egg replacers market?
A4. The North American region holds a considerable market share and the Asia Pacific region is to witness significant growth.
Q5. What factors are anticipated to drive the egg replacers market growth?
A5. The rising trend of veganism and the awareness among individuals to lead a healthier lifestyle is leading to a surge in the demand for egg replacers.
All American Foods
Bob’s Red Mill Natural Foods
Eat JUST Inc.
Arla Foods Ingredients Group P/S
Ener-G Foods, Inc.
Low Protein Connect
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