Egg replacement ingredients are used to replace or reduce the egg content in foods without compromising on the taste and appearance of the final food product. These ingredients are widely used across muffins, custard, mayonnaise, chocolates, cakes, ice-cream, and cookies among others. Milk protein formulations, proteins, algal flour, starch, and soy products (lecithin, tofu & tahini) are some of the type of egg replacement ingredients. All these ingredients are low-fat or low-cholesterol and mainly produced by using milk and starch. Egg replacement ingredients are gaining huge demand across a vegan consumer who does not want to consume meat and any animal product and prefer plant-based products. Also, the use of egg replacement ingredients reduces the overall cost of the production of food.
The global egg replacement ingredients market is estimated to account for around US$ 981.6 million in terms of value in the year 2018 and it predicted to grow at a CAGR of 5.6% during the forecast period (2019-2027)
The increasing cost of eggs due to flu is augmenting the market growth of egg replacement ingredients. For instance, in 2015, it was estimated that the price of eggs increased to 80%, due to avian flu in the U.S. The retail egg price rose from an average of US$ 1.22 per dozen in mid-May 2015, to US$ 1.95 in June 2015 in the country, which was an increase of approximately 60% in just a month. Therefore, the growing cost of eggs is projected to propel the market growth.
Shifting preferences of manufacturer towards clean label products due to the growing number of health-conscious people are expected to offer enormous growth opportunity to the market of egg replacement ingredients. The various government are implementing rules on food additives which is creating a major concern for food manufacturers. Due to this, various food manufacturers are producing clean label products by using less or no food additives and natural food ingredients as substitutes for synthetic additives. This is expected to fuel the market growth of egg replacement ingredients.
The high cost of the final product is expected to restrict the market growth of egg replacement ingredients. Reducing the content of eggs in foods using egg replacement ingredients requires processing and R&D and this affects the final cost of the product. Hence, the high cost of the final product is projected to augment the market growth of egg replacement ingredients.
On the basis of the ingredients, the milk protein formulation segment dominated the global egg replacement ingredients market in 2018 with a 31.6% of market share in terms of value, followed by starch and soy products.
The rising trend of introducing low-fat bakery products by manufacturers due to the rising number of health-conscious people is projected to fuel market growth. For instance, in November 2017, IOI Loders Croklaan Europe launches Presdough 270 SB, the next-generation shea-based palm oil alternative, for use in bakery products. This non-hydrogenated shortening can lower saturated fats in dough products by up to 40% and total fat by up to 20% while retaining the desired flavor and texture and creating extra volume in puff pastry.
The growing trend of using egg replacement in prepared foods is projected to fuel the market growth of egg replacement ingredients. The rising number of consumers is resulting in increasing demand for clean labels such as low-fat, reduced-fat, low cholesterol, reduced calories, and others. Due to this, food manufacturers are producing egg alternatives in prepared or processed food products. This is expected to augment the market growth of egg replacement ingredients.
Key players operating in global egg replacement ingredients market are Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G Foods, Inc., Natural Products, Inc., Orchard Valley Foods, Puratos Group, Solazyme, Inc., and Archer Daniels Midland Company
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