Knowledge Sourcing Intelligence announces the publication of a new report on “Global Egg Replacers Market - Forecasts from 2020 to 2025” to their offering.
A growing pool of consumers who are prone to egg allergies, the rising trends of veganism, adoption of vegetarian eating habits, the emergence of plant-based alternatives, and a high rate of investments in R&D among others are a few factors that are expected to drive the market growth.
As per the report, the market pertaining to Global Egg Replacers is expected to reach US$1,433.310 million by 2025, from US$991.808 million in 2019.
A range of substitutes that are inclusive of but not limited to banana, chickpea powder, china seeds, tofu as well as other soy-based products is used as egg replacers. Other ingredients that are considered as replacement comprise yeast extract, wheat gluten, starch, soy flour, dairy proteins, among others simulates. The increasing global population and rural-urban migration are also expected to result in the growth of the global egg replacers market. Also, it is observed that 1.7 billion people that is around 23% of the world population lived in a city in 2016 and 45 % of the world’s population resided in rural areas which are expected to fall by 40% by 2030 as per United Nations (UN). Moreover, the growing women population in various parts of the world has reportedly led to an increase in demand for personal care products from both offline and online distribution channels. Such developments have contributed to the growing sales of over eCommerce channels that are already in the order of more than US$25 trillion in 2018 which was reportedly equivalent to 30% of the global GDP (gross domestic product) of 2018 as per UNCTAD.
Both developed and developing countries like China, the United States, Germany, and the United Kingdom are considered as the top-notch countries that registered the significant B2C sales. Also, cross-border business to consumer e-commerce sales that have been estimated were in the order of more than US$404 billion in 2018. In view of above the rapid adoption of new lifestyle trends that are expected to drive the demand for plant-based alternatives is expected to occur during the next few years. The constant rate of rapid urbanization also invariably would lead to the obtaining of better and higher education by a relatively larger size of population which automatically would result in the capacity of high-income generation as well as a conscientious investment in a healthy diet and a wider knowledge base about various ways of preventing allergic reactions and other associated d complications. This factor is expected to result in the surge in the global egg replacers market among others. Moreover, the impact of COVID-19, climate change, and food insecurity have accelerated the consumption of plant-based proteins which are further going to augment the growth of the egg replacer market. A few recent market developments pertaining to this space are being mentioned below:
May 2020 – Product Launch
The UK based Vegan cake brand Oggs was reported to launch “the world’s first” patented plant-based liquid egg alternative that is intended for baking made from aquafaba
September 2020 – Product Innovation
A realistic, multi-functional vegan egg that fries like a chicken’s egg and can be used in both baking and cooking were reportedly created by France based Les Merveillœufs
October 2020 – Product Launch
India based EVO Foods has been reported to launch its plant-based liquid egg made from legumes, reportedly its first product in India, by the end of the year with plans to enter the US market next year. This year the product will be made commercially available to the consumers in India through its website.
As a part of the report, the major players operating in the global egg replacers market, which have been covered are All American Foods, Arla Foods Ingredients Group P/S, Bob’s Red Mill Natural Foods, Corbion NV, Eat JUST Inc., Ener-G Foods, Inc., Low Protein Connect, ORGRAN, and Vor Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-egg-replacers-market
This report segmented the global egg replacers market on the basis following terms.