Below are some of the key findings from the egg replacement ingredients market research report
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Global egg replacement ingredients industry overview
The growth in the vegan population is one of the key factors expected to trigger the egg replacement ingredients market growth in the forthcoming years. Rising health concerns are encouraging consumers toward veganism, which is the practice of refraining from the use of animal products as a part of their diet. There is a growing perception that abstaining from the consumption of animal-based products will improve health by reducing the risk of chronic ailments including cancer and heart disease. Such rising awareness about preventive healthcare has increased the popularity of egg replacement ingredients or substitutes including baking powder, soy flour, flaxseeds, and aquafaba. Furthermore, with the rising adoption of vegan food products across restaurants and eateries, the demand for egg replacement ingredients is expected to rise. This drives the market growth rate, which is projected to register a CAGR of close to 6% during the forecast period.
The continual development of new products is one of the key trends expected to gain prominence in the market. Vendors in the market are regularly developing innovative products by investing significantly in the R&D for offering product differentiation to sustain in the market. The market players are using egg replacement ingredients to help vegan food companies for creating baked items without using eggs or artificial ingredients. Such rapid development of innovative products will further boost the egg replacement ingredients market growth in the forthcoming years.
Top egg replacement ingredients companies covered in this market research report
The egg replacement ingredients market is moderately fragmented with companies focusing on launching new products for catering to the evolving end-user requirements. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this egg replacement ingredients industry analysis report is designed to aid clients identify and build innovative strategies for strengthening their position in the market.
The report offers a complete analysis of various companies including:
- Archer Daniels Midland
- Cargill
- DowDuPont
- Glanbia
- Ingredion
Egg replacement ingredients market segmentation based on geographic regions
- Americas
- APAC
- EMEA
The Americas will account for the highest egg replacement ingredients market revenue throughout the forecast period. The EMEA region, however, will witness the fastest growth in the market due to the growing popularity of veganism in economies including the UK, Germany, France, Italy, and Spain.
Egg replacement ingredients market segmentation based on product
- Dairy
- Starches
- Soy-based
- Others
The dairy segment will account for the highest egg replacement ingredients market growth during the forecast period. Additionally, the report will also provide an accurate prediction of the contribution of the various product segments to the growth of the egg replacement ingredients market size.
Key highlights of the global egg replacement ingredients market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the egg replacement ingredients market during the next five years
- Precise estimation of the global egg replacement ingredients market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the egg replacement ingredients industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of the egg replacement ingredients companies
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