The ingredients which are used to replace the Egg in cooking and baking are called as Egg Substitute ingredients. There are many ingredients in the market which can be used as the Egg Substitutes. Most of these products are free from all animal products, and hence they are considered as the ingredients and they also contain no cholesterol. Consumers are also using homemade ingredients for egg replacements such as, fruits, potato starch, baking powder, chia seeds, ground seed etc. In last few years the outbreaks of various flus in the poultry industry has made major impact on the prices of eggs. Also the limited production of eggs has impacted the fluctuation in the prices of eggs. This leads to the need for producers an food technologies to come up with the probable solution for the egg. This has been resulted in the exponential growth for this industry. This industry has a great opportunities for the manufacturers due to its increasing growth trends.
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Vegan Egg Substitute Market: Dynamics
The growing demand for vegan processed food products has boosted the demand for products like this. The factors like increasing allergenicity, grown awareness about environmental sustainability as well as the shift of consumers towards vegan diets are prime drivers of this global market.
Other factors like increased shelf life as compared to eggs, as well as rising prices of eggs, owing to increased poultry diseases, are some of the secondary drivers of global market. This show potential to replace the egg in various food products like cakes, muffins, biscuits, mayonnaise, noodles, etc.
The increasing occurrence of the health-related issues like obesity as well as heart-related diseases has increased the consumer’s inclination towards low cholesterol food ingredients, thus increasing demand for this. The factors like, taste, as well as lower availability of untapped market are some the factors that are hindering the market.
However, owing to increasing demand from the growing vegan population as well as increasing applications, the global market is expected to grow positively over the forecast period.
Vegan Egg Substitute Market: Segmentation
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Vegan Egg Substitute Market: Regional Outlook
On the basis of region, this global market has been segmented as Oceania, Latin America, East Asia, North America, South Asia, and the Middle East & Africa. This market is expected to grow at a rapid pace in developed regions.
In this market, North America region is expected to dominate over the other regions due to a large number of vegan population. However, with growing awareness, regions like Europe and East Asia are expected to exhibit a growth with rapid pace over the forecast period.
Vegan Egg Substitute Market: Key Players
Some of the market participants operating in the global market identified across the value chain includes Glanbia Plc., Archer Daniel Midland Company, Cargill Incorporated, Kerry Group, Ingredion Incorporation, Renmatix, Bob’s Red Mill, House Foods America Corporation, Nayosa Foods Inc., TIC Gums, BI Nutraceuticals, AEP Colloids, WestSoy, Tate & Lyle, Grain Millers, MGP Ingredients, Fuchs North America, and others.
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