Egg Substitute Market Poised for Explosive Growth, Projected to Reach USD 654.3 Million by 2033 | FMI

The global egg substitute market is set for remarkable expansion between 2023 and 2033. According to a research report by Future Market Insights, the market is expected to surpass a valuation of USD 130.5 million in 2023 and soar to USD 654.3 million by 2033, registering an impressive CAGR of 17.5% during the forecast period.

Egg substitutes serve as commercial alternatives in vegetarian baking and cooking, offering the same taste and appearance as traditional eggs while providing cholesterol-free, gluten-free, and vitamin-rich options. Their widespread application in cakes, cookies, mayonnaise, ice cream, chocolates, custard, and other baked goods is fueling steady market growth.

A growing consumer focus on healthy eating habits, along with evolving lifestyles, is driving demand for egg substitutes. The rising adoption of vegan diets worldwide is further contributing to market expansion. Additionally, egg shortages caused by avian influenza have escalated egg prices, accelerating the shift toward plant-based ingredients. As a result, the demand for egg substitutes is expected to surge in the coming years.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐓𝐨𝐝𝐚𝐲! https://www.futuremarketinsights.com/report-sample#5245502d47422d3134333233

Key Takeaways:

• The global egg substitute market is projected to reach USD 654.3 Million by 2033, growing at a CAGR of 17.5% from 2023.
• Rising demand for plant-based, allergen-free, and cholesterol-free food options is driving market expansion.
• Key players are focusing on product innovation and expansion strategies to cater to growing consumer demand.
• North America and Europe dominate the market, while Asia-Pacific presents lucrative opportunities due to changing dietary habits.

Market Drivers and Applications:

The demand for egg substitutes is experiencing a surge, primarily fueled by factors such as increasing veganism, rising health consciousness, and growing prevalence of egg allergies. Consumers are actively seeking plant-based alternatives that replicate the texture and functionality of eggs in various food applications. Additionally, sustainability concerns and fluctuating egg prices are further propelling the shift toward plant-based substitutes.

Applications of egg substitutes span across bakery, confectionery, sauces, dressings, ready-to-eat meals, and plant-based meat products. Food manufacturers are increasingly incorporating egg alternatives in their products to meet consumer preferences while maintaining the taste, texture, and nutritional profile of traditional eggs.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐢𝐨𝐧𝐬 𝐍𝐨𝐰! https://www.futuremarketinsights.com/reports/egg-substitute-market

The egg substitute market is witnessing a paradigm shift, with rising awareness regarding ethical food sourcing and sustainability driving the demand. With consumers seeking more transparent and clean-label ingredients, manufacturers are capitalizing on the trend by developing innovative egg alternatives derived from legumes, algae, dairy proteins, and starch-based sources.” – says Nandini Roy Choudhury, Client Partner at Future Market Insights 

Key Players Launch New Products to Capture Growth

Glanbia Plc., Kerry Group, Archer Daniels Midland Company, Ingredion Incorporated, DuPont Nutrition & Health, and Cargill Incorporated are all present in the worldwide egg substitute market. To expand their global presence, players are investing in mergers and acquisitions. They are also investing in research and development to expand their product portfolios. They also emphasize new product launches to occupy large consumer bases.

Recent Developments Observed by FMI:

• In October 2022, AcreMade launched Plant-based Egg Substitute, an egg substitute made from PURIS’ ingredient, yellow field peas. This shelf-stable powder is designed for baking or scrambling. The debut product is made from upcycled peas.
• In November 2022, Nestle’ launched a new plant-based egg substitute in Latin America. The new powdered shelf-stable plant-based protein blends complement egg dishes without compromising on nutrition and cost.
• Plant-B introduced a new Lupin-based liquid vegan egg substitute in February 2022. The company claims that its egg substitutes are similar to regular eggs, with 50% less calories.
• Evo Foods launched Asia’s first vegan liquid egg substitute in March 2021. The company claims that its egg alternatives contain high protein levels as compared to traditional eggs.

𝐒𝐭𝐚𝐲 𝐀𝐡𝐞𝐚𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭! https://www.futuremarketinsights.com/report-sample#5245502d47422d3134333233

Key Players in the Global Egg Substitute Market

• Cargill Inc.
• DuPont Nutrition & Health
• Kerry Group
• Glambia Plc.
• Tate and Lyle and Ingredion Inc.
• Corbion Puratos
• Danone Nutricia
• Flordia Food Products LLC
• FIberstar Inc.
• MGP Ingredients

Egg Substitute Market Segmentation

By Form:

• Dry
• Liquid

By Source:

• Plant
• Animal

By Ingredient:

• Dairy Proteins
• Starch
• Algal Flour
• Soy-based Products

By Application:

• Bakery & Confectionery
• Savories
• Sauces
• Dressings & Spreads

By Distribution Channel:

• Convenience Stores
• Hypermarkets
• Departmental Stores
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East & Africa