Egg Substitute Market - Analysis, Outlook, Growth, Trends, Forecasts

DUBAI, United Arab Emirates, Feb. 28, 2022 (GLOBE NEWSWIRE) -- The Egg Substitute Market is anticipated to reach US$ 1.1 Billion in 2022. The global Egg Substitute Market is set to expand at a 5.9% CAGR, reaching US$ 2.1 Bn by 2032. Increasing preference for natural ingredients in packaged food and bakery products is expected to drive sales in the market. Egg substitutes can be used in place of eggs in recipes and baked goods. They are primarily preferred by vegans, however, they are occasionally preferred by others seeking variation in taste.

Egg Substitute Market Estimated Size in 2022	US$ 1.1 Bn
Egg Substitute Market Projected Size in 2032	US$ 2.1 Bn
Egg Substitute Market Value-based CAGR (2022 to 2032)	5.9% CAGR
Egg Substitute Market Collective Value Share: Top 3 Countries (2022)	33.6%

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The usage of egg substitutes has no effect on the taste or appearance of the finished product. Surging application of egg substitutes in numerous products such as mayonnaise, chocolates, ice cream, custard, cakes, muffins, biscuits, and other baked goods is propelling the market.

These substitutes are as beneficial as eggs in terms of nutrition, being cholesterol-free, gluten-free, and high in vitamins A and B12, among other nutrients. Increasing awareness regarding the nutritional benefits of egg substitutes, as well as the inclination to eat healthy food items, are complementing the growth in the market.

Key Takeaways:

• Based on form, the liquid segment is anticipated to account for around 46.7% of the total market share over the forecast period.
  
  
• The North America egg substitute market is expected to expand at a 5.6% CAGR through 2032.  
  
  
• Sales in the East Asia egg substitute market are forecast to account for 18.9% of the global egg substitute consumption through 2032.
  
  
• Egg substitute application in the bakery industry is expected to hold a market share of over 41.5% over the forecast period.

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Scope of the Report

Attribute	Details
Forecast Period	2022-2032
Historical Data Available for	2017-2021
Market Analysis	US$ Million for Value
Key Countries Covered	US, Canada, Mexico, Brazil, Peru, Argentina, Chile, Colombia, Rest of Latin America, Germany, Italy, France, U.K., Spain, India, GCC, South Africa, Rest of EMEAI, ANZ, SEA, Japan, China, South Korea.
Key Segments Covered	Form, Source, Ingredient, Application, Distribution Channel and Region
Key Companies Profiled	• Cargill Inc. • DuPont Nutrition& Health • Kerry Group • Glambia Plc. • Tate and Lyle and Ingredion Inc • Corbion Puratos • Danone Nutricia • Florida Food Products LLC • Fiberstar, Inc. • MGP Ingredients.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization and Pricing	Available upon Request

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Egg Substitute market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on the egg substitute market by form (dry and liquid), ingredient (dairy proteins, starch, algal flour, and soy-based product), application (savories, bakery, confectionery, sauces dressings & spreads) & region across seven major regions of the world.

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Competitive Landscape

Some of the prominent players of the global egg substitute market include Corbion, DuPont Nutrition & Health, Kerry Group, Florida Food Products, Glanbia Plc, MGP Ingredients, Archer Daniels Midland Company, Tate and Lyle and Ingredion Inc., Ingredion Incorporated, Cargill Inc., LLC Fiberstar Inc., and Others

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