Egg Substitutes Market to Witness Major Growth by 2028 | All American foods, Perfeggt, Just Egg
Updated · Jun 14, 2023
Published Via 11Press : According to HTF MI, The report “Global Egg Substitutes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029” From 2023 to 2028, the market for egg substitutes is projected to expand at a compound annual growth rate (CAGR) of 7.9%, reaching USD 1175 million in 2023 and USD 2445 million by that time.
Egg Substitutes are goods created to mimic the qualities of eggs in a variety of uses, such as baking, cooking, and food production. These alternatives are available to people who have dietary limitations, practise vegan or plant-based diets, or are looking for more environmentally friendly solutions. Common plant-based substances used to make egg replacements include tofu, chickpea flour, flaxseed, and aquafaba, among others. They have similar emulsifying, leavening, and binding abilities to eggs but lack cholesterol and have less saturated fat. It includes a variety of businesses, from large food conglomerates to start-ups that focus on plant-based substitutes. The competition between major competitors is focused on elements including product quality, flavour, texture, adaptability, price, brand reputation, distribution channels, and innovation.
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Key and Developing Players,
- All American foods
- Arla Foods Ingredients
- zero egg
- Just Egg
- Les Merveilloeufs
- Cultured Foods
- Float Foods
- The demand for items using egg alternatives is being driven by worries about animal welfare, sustainability, egg allergies, and price.
- A significant contributing element to the rise in demand for egg replacements is the increased desire from consumers for vegan food.
- The growth of bakeries and cafés is a major driver of the egg substitute business.
- With the baking sector bringing in more than $30 billion annually, there are several ways for bakers to profit from the development of new egg alternatives.
- Additionally, the expansion of the worldwide market is probably going to be slowed down by rising egg prices.
- Customers are increasingly selecting goods made with all-natural, plant-based components.
- Due to this, there is a global need for egg alternatives.
- Consumers are becoming more and more aware of the origins of their food, and many are switching to a plant-based diet.
- Eggs, which are often made from hens, do not fit into the vegan movement that is presently sweeping the Western world.
- Due to worries about the high cholesterol and saturated fat content of conventional eggs, some individuals are turning away from them.
- Egg alternatives provide a cholesterol-free, lower-fat option that appeals to people who are concerned about their health.
- Additionally, the liquid left over after cooking chickpeas, known as a quafaba, is the newest fad in the culinary world and may be used in baking and cooking in place of eggs.
- Younger generations are showing a growing interest in fitness, which presents a tremendous potential for eggs as a healthy alternative to dietary supplements.
- Egg alternatives can provide the qualities that consumers are seeking, therefore there is a chance to experiment with proteins, fibres, gums, emulsifiers, and more to investigate their contributions to egg-free goods and the synergies between them.
- Additionally, there are many of prospects for egg alternatives in the food service sector.
- To meet the rising demand for vegan and vegetarian alternatives, restaurants, cafés, and bakeries are adding plant-based options to their menus.
- For producers of egg replacements, this entry into the food service industry opens up a wide range of opportunities and collaborations.
- Eggs perform a variety of activities, including emulsification, coagulation, binding, and thickening, which are crucial for a variety of end uses in the food manufacturing process.
- Manufacturers of ingredients have discovered that it is difficult to duplicate traditional eggs in plant-based form because of their distinctive texture and qualities.
- Additionally, conventional eggs include high-protein, clean-label components that are particularly useful for increasing the flavour and consistency of culinary items as well as the look of baked goods, among other end uses.
- It is difficult to replicate the same qualities in egg alternatives.
- The biggest difficulty in producing plant-based eggs, aside from this, is imitating their adaptability.
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Egg Substitutes Market Segmentation:
Market Breakdown by Applications:
Market Breakdown by Types:
|The Market size value in 2023||USD 1175 Million|
|Revenue Forecast by 2033||USD 2445 Million|
|Growth Rate||CAGR Of 7.9%|
|Regions Covered||Latin America, North America, Europe, the Middle East and Africa, and the rest of the world|
|Short-Term Projection Year||2028|
Along with studying the profiles of the key players in the Egg Substitutes market. Some of the players profiled are All American Foods, Perfeggt, Arla Foods Ingredients, zero egg, Shir, OGGS, Just Egg, Les Merveilloeufs, Float Foods, Cultured Foods, Cracked
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Key highlights of the report:
- Egg Substitutes Market Performance (2018-2022)
- Egg Substitutes Market Outlook (2023-2028)
- Egg Substitutes Market Trends
- Egg Substitutes Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Detailed competitive landscape
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
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