The global Egg Substitutes Market is estimated to surpass $1.1 billion by 2023, growing at an estimated rate of 6% during 2018 to 2023 majorly driven by the rising adoption of veganism and increased demand for products made without animal source materials. Outbreaks of flu and other diseases among the hen population are causing egg shortage, thus providing an opportunity for egg substitutes.
What are Egg-Substitutes?
Egg substitutes are the nourishments which can be utilized for replacing eggs in cooking and bakeries. These products are mostly preferred by vegans. Most of these substitutes are free from animal products and contain no cholesterol. These substitutes do not influence the taste and appearance of the end product. Owing to the extensive application of egg substitutes in the end products such as cakes, muffins, mayonnaise, chocolates, custard, ice cream, cookies and others, market is experiencing a noteworthy growth rate. In terms of nutritional values, egg substitutes are no less than eggs and moreover, egg substitutes are cholesterol free, gluten free with high amount of Vitamin A and B12 and others. Increasing awareness among consumers regarding nutritional values of egg substitutes is a key factor driving the market. The market is facing challenges owing to soaring prices of products in some regions, thus hindering the market growth.
This report incorporates an in-depth assessment of Egg Substitutes Market by form, type, application, distribution channel and geography. The market is segmented based on applications as well. The demand for egg substitutes in major applications such as bakery and confectionary, savories, dips, sauces, dressings and spreads and others are incorporated in the report.
The report includes analysis of the market by geography considering North America, Europe, Asia Pacific and Rest of the World for Egg Substitutes along with analysis of prominent countries across these regions. North America region evolved as the largest market for egg substitutes, owing to the wide outbreaks of flu in the U.S., and strong presence of veganism. Egg Substitutes Market in Europe is forecast to grow at a CAGR of 5.9% during the forecast period.
Market Research and Market Trends of Egg Substitutes Ecosystem
- Rising awareness among consumers regarding healthy eating habits coupled with changing lifestyles and increase in the adoption of a vegan diet is likely to be the major driving factor for the growth of global egg substitutes market.
- Egg shortage crisis due to avian influenza, growing demand for plant based ingredients and increased cost of eggs are some of the factors expected to fund the growth of the global egg substitutes market over the forecast period.
- Bakery and confectionery application is estimated to dominate the egg substitutes market owing to the numerous functional properties offered by egg substitutes such as better binding, emulsifications, foaming and flavor enhancement thus set to drive their demand in bakery and confectionery segment.
- Dairy protein segment is estimated to account for a revenue share of 29.6% in the global egg substitute market by the end of 2017 whereas the starch segment is anticipated to register CAGR of 5.2% in terms of value over the forecast period.
- As per IndustryARC analysis, Europe is estimated to grow at a brisk CAGR of 6.5%,and the growth is majorly attributed to the growing players in the region and increasing consumption of plant-based ingredient food by consumers
Who are the Major Players in Egg Substitutes Market?
The companies referred in this market research report as major players include Cargill Inc., DuPont Nutrition & Health, Kerry Group, Glambia Plc., Tate and Lyle and Ingredion Inc.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
1. Egg Substitutes MarketOverview
2. Egg Substitutes MarketExecutive Summary
3. Egg Substitutes Market Landscape
3.1. Market Share Analysis
3.2. Comparative Analysis
3.2.1. Product Benchmarking
3.2.2. End User Profiling
3.2.3. Top 5 Financials Analysis
3.2.4. Patent Analysis
4. Egg Substitutes Market – Forces
4.1.1. Increasing Flu Outbreaks
4.1.2. Rising adoption of vegan diet in developed economies
4.1.3. Increasing investments in R&D of egg substitutes
4.2. Restraints & Challenges
4.2.1. Practical challenges on complete replacement of eggs
4.2.2. High consumption of eggs and egg-based foods
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Degree of Competition
5. Egg Substitutes Market – Strategic Analysis
5.1. Value Chain Analysis
5.2. Pricing Analysis
5.3. Opportunities Analysis
5.3.1. Increasing opportunities for egg replacements in the Asia Pacific region
5.3.2. Rising awareness regarding Veganism in the Emerging Economies
5.4. Product/Market Life Cycle Analysis
6. Egg Substitutes Market – By Form
7. Egg Substitutes Market – By Type
7.2.1. Dairy Protein
7.3.4. Others (Soy Products, Algal Flour)
8. Egg Substitutes Market – By Application
8.2. Bakery & Confectionery
8.2.2. Cakes and Brownies
8.2.3. Pancakes and Pie Fillings
8.4. Sauces, Dressings, and Spreads
9. Egg Substitutes Market – By Distribution Channel
9.2. Convenience Stores
9.3. Hypermarkets/ Supermarkets
9.4. Departmental Stores
10. Egg Substitutes Market – By Geography
10.2. North America
10.3.7. Rest of Europe
10.4. Asia Pacific
10.4.4. South Korea
10.4.5. Australia & New Zealand
10.4.6. Rest of APAC
10.5. Rest of the World
10.5.1. Middle East
10.5.2. South America
10.5.2.4. Rest of South America
11. Egg Substitutes– Market Entropy
12. Egg Substitutes Market Company Profiles
12.1. Cargill Inc.
12.2. DuPont Nutrition & Health
12.3. Kerry Group
12.4. Glambia Plc
12.5. Tate and Lyle
12.6. Ingredion Inc.
12.7. Company 7
12.8. Company 8
12.9. Company 9
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies"
13.3. Research Methodology
13.5. Compilation of Expert Insights