Ingredients that are used as a substitute to egg in baking and cooking are known as egg replacers. Major factor driving growth of the global egg replacers market is increasing vegan and vegetarian population. However, taste change in food products, due to usage of egg replacers may affect growth of the target market.
The global egg replacers market has been segmented on the basis of source, ingredients, form, application, and region. On the basis of source, the market is segmented into plants and animals. On the basis of ingredients, the market is segmented into starch, soy-based products, dairy proteins, algal flour, and others. Dairy proteins segment dominates the global market and is expected to witness significant growth over the forecast period, due to increasing use of dairy proteins as foaming and biding agents.
On the basis of form, the market is segmented into liquid and solid. Solid segment anticipated to witness fastest growth in the near future, owing to its easy solubility and longer shelf life. On the basis of application, the market is segmented into sauces, bakery and confectioneries, dressings and spreads, dairy products, and others. Bakery and confectioneries accounts for major share in terms of revenue and anticipated to maintain its position over the forecast period.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market in North America is dominating the global market in terms of revenue, owing to increasing adoption of vegan diet among individuals. Growing preference for low cholesterol food products is another factor driving growth of the target market in this region. Market in Asia Pacific is expected to witness significant growth in terms of revenue in the near future, owing to growing retail sector and increasing number of food processing industries in this region.
Key players operating in the global egg replacers market include Archer-Daniels-Midland Company, E. I. du Pont de Nemours and Company, Arla Foods amba, Kerry Group plc, Ingredion Incorporated, Glanbia plc, Tate & Lyle PLC, Puratos Corporation, Corbion N.V., and MGP Ingredients, Inc.