The Global Egg Substitute Market is anticipated to grow from $1.91 billion in 2021 to over $3 billion in 2028, a CAGR of 6.90%.
“The vegan eggs segment is growing substantially owing to the growing trends of veganism and their widespread availability across the globe”, states the Egg Substitute Market Report, conducted by Brand Essence. “Rising allergenicity, more awareness about environmental sustainability and a movement in consumer preferences toward vegan diets are some of the major factors driving the growth of the global egg substitutes market.”
According to the report, egg Substitutes are referred to as edible products that can be used as alternatives for eggs. “They are used in bakery products, mayonnaise, ice-cream, chocolates, and custard, among others.”
The most commonly used egg replacements are “applesauce, chia seed, mashed banana, silken tofu, vinegar, yogurt, and aquafaba, among others” including plant-based eggs such as Just Egg and Simple Eggless. The report notes that “These egg alternatives are also enriched with various nutrients that help in reducing body cholesterol, thereby preventing several chronic disorders.”
The rising trends of veganism, wide array of health benefits offered by egg substitutes, along with escalating demand for eggless bakery items are primarily augmenting the outlook of this market sphere.
The Prominent Players Characterizing the Competitive terrain of this industry vertical are:
Ener-G Foods, Bob’s Red Mill Natural Foods, Inc., Namaste Foods, LLC, Hodo, Inc., Just Inc., Simply Eggless, Inc., National Pasteurized Eggs, LLC, Yo Ho Food Products, L.L.C., Old Friends Holdings, LLC, The Aquafaba Company, LLC, ATLANTIC NATURAL FOODS, LLC, Healthy Food Brands Ltd, THE VEGG, Eggcitables, Happy Egg Co Farm, Nestlé, Britvic Soft Drinks Ltd., Yumello, Naturya, Windmill Oragnics, Wessanen UK, Pip & Nut, Sun & Seed, Kraft Foods Group Brands LLC, Thames Organic, Claire’s Handmade.Ltd, Sainsbury’s Supermarkets Ltd., Wm Morrison Supermarkets PLC, Corbion N.V., 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 Fiber star Inc., Puratos Corporation, and Others.
Furthermore, “egg replacements are fat and cholesterol free in nature and decrease the possibility of heart diseases in consumers. This is adding momentum to the progression of this business vertical. Moreover, growing health consciousness of the masses, rising prevalence of egg-based allergies, and increasing R&D activities in the field are creating lucrative opportunities for the industry sphere to prosper.”
Also, “egg supply shortage in various nations, increasing geriatric population base, and rapidly changing lifestyle trends are stimulating the dynamics of global egg substitute market”, states the report. “On the flipside, high costs pertaining to these products and dearth of awareness regarding the advantages of egg replacements are hindering the remuneration scope of this industry.”
The full report can be found by clicking here.
