The outbreak of several epidemics from birds is having a profound influence on global consumption of eggs. This has led to an intense egg supply crisis causing various constraints apropos of egg supplies. Also, the global food industry has witnessed a paradigm shift over the past few years, with increasing number of consumers preferring vegan diet over a non-vegetarian diet. This, in turn, is poised to bode well for egg replacement ingredients market. The egg replacement ingredients market is envisaged to be driven by several factors such as rising number of vegans, outbreak of fatal diseases associated with birds, and rising preferences for vegetarian diet in the wake of health concerns worldwide. According to the report, the egg replacement ingredients market was sized over US$ 980 Mn in 2018. The market is further projected to value around US$ 1, 630 Mn by 2028 end.
The outbreak of avian influenza and its subsequent prevalence among birds, primarily in the North America region, has led to an intense egg supply crisis. Poultry producers across several countries, primarily in North America, are witnessing huge losses in the wake of a highly pathogenic strain of avian influenza. This epidemic has, in turn, persuaded producers to cull millions of chickens and turkeys. Consequently, food manufacturers are on the lookout for egg substitutes to include in various products, which is foreseen to bode well for egg replacement ingredients market. Moreover, this shortage could lead to increase in prices of eggs, encouraging producers and consumers to opt for egg substitutes at an affordable deal. Due to supply constraints, the prices of eggs in regions like North America could witness a drastic surge. Thus, multiple producers are vying for cutting down recipe costs by using egg substitutes, thereby propelling the growth of egg replacement ingredients market.
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Though a huge demographic of players in the bakery industry provide traditional bakery offerings, only a few players make use of egg replacement ingredients in their products. Health-savvy population evolving across the globe are highly preferring functional foods with natural ingredients. This is a preeminent trend creating pioneering opportunities for companies in egg replacement ingredients market to offer products in line with this growing fad. This opens up multiple avenues for domestic and local players to penetrate into the egg replacement ingredients market for cashing on surging demand for foods which are gluten-free, armed with a high nutritional profile, and are clean labelled from bakeries and several other food joints. This is envisioned to fortify the demand for egg replacement ingredients by a large margin.
Mayonnaise is poised to stay ahead of the curve in terms of revenue in egg replacement ingredients market as compared to other application segments such as chocolates, biscuits and cookies, cakes/pastries/muffins/breads, and noodles & pasta in the egg replacement ingredients market. On the flip side, the section of cakes/ pastries/muffins/breads in egg replacement ingredients market is foreseen to exhibit faster growth over the forecast period. In the light of sudden and unprecedented decline in egg supply because of avian flu, several manufacturers of mayonnaise dressings have been receiving requests for introducing stabilizers to replace eggs in mayonnaise. Though manufacturers in egg replacement ingredients market find it a bit challenging to restore the functionality of eggs in mayonnaise-type dressings, they are persistently formulating stabilizer systems for replacing the necessary texture and emulsification properties. This, in turn, is poised to spur the demand for egg replacement ingredients and bode well for the overall market growth.
Fact MR compiled a comprehensive report on egg replacement ingredients market for the assessment period of 2018–2028. The report on egg replacement ingredients is an ideal solution for both qualitative and quantitative intelligence, which are important for gauging overall scope of the egg replacement ingredients industry. Furthermore, the report on egg replacement ingredients market also covers exhaustive information of the current scenario of the industry, which forms a base for framing the futuristic anticipations. The report is an all-inclusive presentation of growth drivers, market restraints, prime opportunities, demand generators, market size estimations, industry forecasts, and pioneering trends governing the egg replacement ingredients market over the forecast timeline. The report on egg replacement ingredients market has been compiled by procuring information from both primary and secondary research findings.
Porter's five forces model included in the report provides an overview of the competitive intensity, supplier, and buyer positions in the egg replacement ingredients market. Moreover, it also sheds light on the opportunities for new entrants in the egg replacement ingredients market. Further, the growth matrix entailed in the report gives a clear outline of the investment areas, which both the established and new market players should consider. From the geographical standpoint, this report scrutinizes the top consumers, producers, production, product capability, consumption matrix, market share, and pervasive trends in the egg replacement ingredients market.
The report starts with an industry overview of global egg replacement ingredients market, which is followed by a circumstantial analysis of the industry dynamics. The impact of key growth determinants and impediments have been studied in the report which are poised to thwart market growth of egg replacement ingredients over the time. A weighted average model is included that elaborates on the impact analysis of key growth drivers and determinants on egg replacement ingredients market to help the reader in making viable business decisions. Moreover, the egg replacement ingredients market is analyzed based on various segments to outline a comprehensive industry outlook for the respective assessment timeline. Apart from the global trends, the report on egg replacement ingredients market also discusses the key regional trends that are contributing to the market growth and also analyzes their after-effects on the industry of egg replacement ingredients.
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Egg Replacement Ingredients Market Investigation & Industry Evolution till 2028
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