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EGG REPLACEMENT INGREDIENTS MARKET ANALYSIS

Egg Replacement Ingredients Market, By Ingredient (Starch, Milk Protein Formulation, Soy Products, Algal Flour, Proteins, Others), By Application (Chocolates, Biscuits & Cookies, Cakes/Pastries/Muffins/Breads, Mayonnaise, Noodles & Pasta), By End-user (Commercial (Large Scale Food Manufacturers, Small Scale Food Manufacturers), Household), By Form (Liquid, powder), and By Region (North America, Latin America, Asia Pacific (APAC), Europe, Middle East & Africa (EMEA)) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

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EGG REPLACEMENT INGREDIENTS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker   EGG REPLACEMENT INGREDIENTS MARKET ANALYSIS  Egg Replacement Ingredients Market, By Ingredient (Starch, Milk Protein                   Formulation, Soy Products, Algal Flour, Proteins, Others), By Application                   (Chocolates, Biscuits & Cookies, Cakes/Pastries/Muffins/Breads, Mayonnaise,             Noodles & Pasta), By End-user (Commercial (Large Scale Food Manufacturers,                     Small Scale Food Manufacturers), Household), By Form (Liquid, powder), and By                       Region (North America, Latin America, Asia Pacific (APAC), Europe, Middle East                       & Africa (EMEA)) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027       

  2. Egg Replacement Ingredient Market 2017–2027  Egg replacement ingredients are the ideal substitute for egg and are widely used           to replace the egg content in the food. These ingredients reduce the egg content                 without affecting the taste and nutritional value of the food products. They are           produced from various ingredients such as milk, modified food starch, etc. These           ingredients are widely used across biscuits & cookies, cakes, chocolate, pastries,           bread, noodles & pastas, and mayonnaise. Moreover, they are also used in           savories, spreads, and dressings. The egg replacement ingredients are a low-fat           or low-cholesterol alternative to whole eggs and are ideal for the consumer who           does not want to eat meat and preferred plant-based products.                                                                                                                  The global egg replacement ingredients market is projected to reach around US$           1622.1 million by the end of 2027, in terms of revenue, growing at CAGR of 5.6%                 during the forecast period (2019-2027).                                Drivers  The shortage of egg crisis due to avian influenza is projected to propel the               market growth of egg replacement ingredients. For instance, in 2015, 48.1 million           of hens, turkeys and other birds were killed due to H5N2 virus (avian flu) in the               U.S. The cost of dead poultry was estimated to be approximately US$ 191               Million. The total economic damage of the outbreak in Midwestern U.S. state           alone was estimated at US$ 957 Million. This is expected to fuel market growth.                                                                          Rising demand for plant-based ingredients is expected to accelerate the market         growth of egg replacement ingredients. Shifting preferences of consumers         towards natural ingredients product is projected to support the market growth of           these ingredients such as agar, starch and soy as they are naturally produced             from plants. Therefore, rising demand for plant-based ingredients is expected to           accelerate the market growth of egg replacement ingredients.                                                                  On basis of the region, North America dominated the global egg replacement               ingredients market in 2018, accounting for 53% share in terms of value, followed           by Europe, Middle East & Africa and Asia Pacific.                             

  3. Figure 1. Global Egg Replacement Ingredients Market, Revenue Share (%), By  Region, 2018    Market Restraints  Egg replacement ingredients do not deliver the same taste as an egg does is           projected to hamper the market growth of egg replacement ingredients.           Moreover, these ingredients do not provide the color, same lift, and mouth feel.           Hence, the issue associated with the taste and the flavor is expected to hinder             the market growth of egg replacement ingredients.                                                              Lack of awareness regarding the egg substitute products across the developing             region is expected to curb the market growth of egg replacement ingredients               over the forecast period.                      Market Opportunities  Growth in a number of vegan populations around the globe is projected to propel             the market growth of egg replacement ingredients. In 2018, the UK launched           more vegan products than any nation. According to the Vegan Society, the           demand for meat-free food in the UK increased by 987% in 2017 and going vegan               was predicted to be the biggest food trend in 2018. Moreover, the UK plant-based               market was worth £443m in 2018.                                                                           

  4. Growing bakeries & cafes are expected to create huge demand for eggless cakes               which in turn propel the market growth of egg replacement ingredients.             According to the University of British Columbia (UBC), the Canadian bakery             product market is expected to grow at a compound annualized rate of 3.4% from                 2018-2022. Moreover, bread sales accounted for the largest portion of baked         goods sales each year. In 2017, bread sales accounted for $3.5 billion (USD) or               almost 63% of total sales that years.                                                                           Figure 2. Global Egg Replacement Ingredients Market– Opportunity Analysis    Market Trends  Contentious product innovation by manufacturers is a major trend that has been         observed in the market and this is expected to fuel the market growth of egg               replacement ingredients. For instance, in October 2019, Zero Egg has developed           a nutritious plant-based liquid the egg that tastes, looks, and functions like a real             egg and can be used as an egg substitute in any recipe, including omelets, baked                 goods, mayonnaise, sauces, and more. Zero egg has a high nutritional value and           no cholesterol.                                                                                            Rising demand for gluten-free, non-GMO egg replacement ingredient is expected         to fuel the market growth of egg replacement ingredients. According to the               Coherent Market Insights, U.S-based Fiberstar offers a non-GMO clean label eggs         replacement ingredient to consumers. The ingredient is derived from natural         citrus fiber and enables partial or full replacement of egg for food applications               such as baked goods, gluten-free bakery products, mayonnaise, dairy-based                                                                              

  5. desserts, meat products, and others.  Figure 3. Global Egg Replacement Ingredients Market, Revenue Share (%), By  Application, in 2018    On the basis of application in 2018, the mayonnaise segment has accounted the                 largest market share of 38.2%           cakes/pastries/muffins/breads and biscuits & cookies respectively.              in   terms   of   value,   followed   by Competitive Section  Key players operating in global egg replacement ingredients market are             Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G             Foods, Inc., Natural Products, Inc., Orchard Valley Foods, Puratos Group,           Solazyme, Inc., ​and​ Archer Daniels Midland Company                                 

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