Global Egg Replacement Ingredients Market is expected to grow at a CAGR of 6.01% during the forecast period 2019-2026 - GuruFocus.com

The global egg replacement ingredients market is expected to grow from USD 1.4 billion in 2018 to USD 2.1 billion by 2026, at a CAGR of 6.01% during the forecast period 2019-2026. Several health concerns are associated with egg consumption such as the cholesterol content with its negative influence on heart health, the 2017 Fipronil eggs contamination, and the recurring outbreaks of avian influenza, primarily driving the growth of the market.

The starch segment is expected to hold the largest market share in the global egg replacement ingredient market over the forecast period

The product segment is divided into dairy protein, starch, algae flour, soy-based products, and others. The starch segment is anticipated to hold the largest market share in the global egg replacement ingredient market. Many bakery manufacturers are preferring starch as a replacement, due to high prices of eggs. With the rising demand for starch as an egg replacement ingredient, many companies are developing new starch products in the market. For instance, in June 2018, Ingredion launched two new organic-certified corn starch ingredients, Novation Prima 309 and 609 starches.

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The powder segment is expected to grow at the highest CAGR of 6.8% over the forecast period

The form segment includes liquid and powder form. Powder segment is anticipated to grow at the highest CAGR of 6.8% during the forecast period owing to its high shelf life and easy mixing with the bakery dough and other products. Unlike the liquid egg substitutes which are made with eggs, these egg replacement ingredient powders do not contain eggs making it safe for people with egg allergies and suitable for people who do not consume eggs.

The bakery & confectionery segment is expected to grow at a CAGR of 5.5% over the forecast period

Application segment is classified into bakery & confectionery, mayonnaise & sauces, and others. The bakery & confectionery segment is expected to grow at a CAGR of 5.5% over the forecast period. Due to the increasing shortage of eggs and their high prices, the bakery industry is seeking egg replacement ingredients. Their demand from bakery and confectionary sectors has increased in recent years.

Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The North America region dominated in terms of market share in the global egg replacement ingredients market. North America region held 44% of market share in the year 2018. The North American food industry is experiencing a drastic shift as most of the consumers are inclining towards a vegan diet. This is facilitated with the outbreak of various bird diseases such as flu that has been causing a downfall in the poultry egg business, driving the demand for egg replacement ingredients.

The egg replacement ingredients market in Europe is growing at a significant growth rate. Almost 39% of the European population is trying to switch to plant-based egg substitutes. Besides this, change in lifestyle of the population in the region is creating profitable opportunities for the players of the egg substitutes market.

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Competitive Analysis:

Key players in the global egg replacement ingredients market are Corbion N.V., Puratos Group, Glanbia PLC, Natural Products, Inc., DuPont, Ingredion Incorporated, Tate & Lyle PLC, Ener-G Foods, Inc., Orchard Valley Foods Limited, TerraVia Holdings, Inc., and Archer Daniels Midland Company among others.

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