Egg Replacement Ingredient Market: Global Industry Analysis and Opportunity Assessment, 2016-2026
LONDON, Nov. 30, 2016 /PRNewswire/ -- Egg replacement ingredients enable the replacement or reduce egg content in foods without affecting the taste and appearance of the final product. These ingredients find extensive application in products such as cakes, muffins, mayonnaise, chocolates, custard, ice-cream, and cookies among others. The global egg replacement ingredient market is anticipated to register a CAGR of 5.8% during the forecast period (2016 – 2026) and is estimated to be valued at US$ 1,533.3 Mn by 2026 end.Rising prices of eggs and increasing consumer awareness towards preventative healthcare is expected to boost market growthEgg shortage crisis due to avian influenza, increasing demand for plant based ingredients and increased cost of eggs are factors expected to support the growth of the global egg replacement ingredient market over the forecast period. Rising consumer awareness towards preventative healthcare and an inclination towards products with low cholesterol levels is further likely to fuel the growth of the global egg replacement ingredient market during the forecast period. Manufacturers are focussing on production catering to rising consumer demands for vegan or vegetarian edible products and allergen-free products.However, increased cost of the final product and the fact that egg replacement ingredients do not offer the same taste effect as eggs is likely to restrict the growth of the global egg replacement ingredient market over the forecast period. Market segmentationBy IngredientBy ApplicationBy End UseBy FormBy RegionMilk Protein FormulationAlgal FlourProteinsStarchSoy Products (Lecithin, Tofu & Tahini)Others (Fruit Purees & Vinegar)ChocolatesBiscuits & CookiesCakes/Pastries/Muffins/BreadsMayonnaiseNoodles & PastaCommercialLarge Scale Food ManufacturersSmall Scale Food ManufacturersHouseholdLiquidPowderNorth AmericaLatin AmericaEurope, Middle East & Africa (EMEA)Asia Pacific (APAC)Milk Protein Formulation ingredient segment likely to remain dominant throughout the forecast periodThe Milk Protein Formulation segment is estimated to account for a revenue share of 31.1% in the global egg replacement ingredient market by the end of 2016 while the Starch segment is anticipated to register a CAGR of 5.7% in terms of value over the forecast period.Mayonnaise application segment expected to gain relatively high market share over the forecast periodThe Mayonnaise segment is estimated to account for a value share of 38.2% in the global egg replacement ingredient market by 2016 end. The Cakes/Pastries/Muffins/Breads segment is estimated to account for 25.9% value share of the global egg replacement ingredient market by the end of 2016.Commercial end use segment expected to account for highest value share by 2026The Commercial segment is anticipated to remain dominant and account for 79.7% value share of the global egg replacement ingredient market over the forecast period.Powder form segment anticipated to grow 1.8X during the forecast periodThe Powder segment is estimated to reach a market valuation of US$ 670.5 Mn by the end of 2016 and is expected to show significant growth during the forecast period.North America to represent highest value share of the global market by 2016 endThe North America egg replacement ingredient market is estimated to account for 48.0% share of the global egg replacement ingredient market by the end of 2016. The EMEA egg replacement ingredient market is expected to witness the highest CAGR of 6.5% in terms of value during the forecast period.egg replacement ingredient marketLeading market players are focussing on new product launches and strategic acquisitions and mergers to strengthen market shareKey players in the global egg replacement ingredient market include Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G Foods, Inc., Natural Products, Inc., Orchard Valley Foods Limited, Puratos Group, TerraVia Holdings, Inc., and Archer Daniels Midland Company. Top companies dominating the global egg replacement ingredient market are focussed on introducing new products to cater to the rising demand from specific industries such as the bakery industry. Companies are also offering natural and healthy ingredients that are Kosher certified, GMO free, and gluten free.
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