Bizizz Market Research has recently published a research report, “Egg Replacement Ingredients Market By Ingredients Type (Milk Protein Formulation, Algal Flour, Proteins, Starch, Soy Products (Lecithin, Tofu & Tahini) and Others (Fruit Purees & Vinegar)), End User (Commercial (Large Scale Food Manufacturers and Small Scale Food Manufacturers), and Household), by form (Liquid and powder), Application (Chocolates, Biscuits & Cookies, Cakes/Pastries/Muffins/Breads, Mayonnaise, and Noodles & Pasta)), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Egg Replacement Ingredients Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1.6 Bn by 2027, witnessing a CAGR of 6.1 % during the forecast period. Key drivers of the market are rising number of vegans and reduction in the egg production due to flu and promoting egg replacement ingredients. However, dissimilar flavor to the egg may hinder the growth of the market during the forecast period.
Egg replacement is an alternative to the egg or lessen the egg content in its usage. The usage of egg replacement is found high in the production of food products including muffins, chocolates, ice-cream, cookies, custard, mayonnaise, and cakes amongst others. The market demand is by an increasing number of vegans and the decreased amount of egg production is contributing to its market demand globally.
The Egg Replacement Ingredients market is anticipated to register a CAGR of over 6.1% during the forecast period.
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By ingredients, milk protein formulations segment held a key share in Global Egg Replacement Ingredients Market in 2018.
The milk protein formulation has a significant market demand globally that is being used in various food products manufacturing. Decreased production of the egg globally because of the flu caused to the chickens had increased the demand of milk protein formulations. This could be attributed to the similar amount of the nutritional presence in the milk protein formulations that is being attracting the customers in its purchase.
North America is Anticipated to Dominate the Global Egg Replacement Ingredients Market during the Forecast Period (Please do capitalize each word)
The growing population and decreased food supply is supporting the demand of egg replacement ingredients in the North American market. Customers are seeking products that have higher shelf life and improved nutritional content that is contributing to the demand of egg replacement products in the North American region. The customers in this region are increasing in the awareness of bad effects of cholesterol content consumption that is boosting the market growth of egg replacement products.
Global Egg Replacement Ingredients market was moderately consolidated with key players accounting for significant share in 2018. Because of the few number of companies operating in this market there is a substantial amount of competition among these companies.
Prominent players operating in the Global Egg Replacement Ingredients Market are: Glanbia PLC , Archer Daniels Midland Company, Corbion N.V., Orchard Valley Foods Limited, Ener-G Foods, Inc., TerraVia Holdings, Inc., Puratos Group and Ingredion Incorporated, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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