North America to Dominate Egg Replacement Ingredients Market, Milk Protein Formulation Segment to Show Maximum Rise – Future Market Insights

Egg replacement ingredients market is flourishing owing to improved use in food industry mainly for production of mayonnaise. North America is continuously standing on the pedestal in terms of consumption and growth.

DUBAI, UAE / ACCESSWIRE / October 1, 2020 / The egg replacement ingredient market earns a major part of the revenue from the food sector owing to the production of vegan plant based eatables. Manufacturers are planning to launch gluten and allergen free products and are into a research of minimizing cost. Though demand for milk protein formulations and whey protein is rising, yet there exists a taste difference which is acting as a major restraint in the market.

"With the noticeable expansion of food industry and rising consumption of vegan or plant based food among the youngsters and rising awareness towards low-cholesterol food products, there has been a tremendous surge in demand for egg replacement ingredients across the globe," says the FMI Analyst.

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Egg Replacement Ingredients Market – Key Highlights

Egg replacement market is expected to register a CAGR of 5.8% through the forecast period with a value of US$ 2533.3 million.
Milk protein formulation segment holds up to 31.6% market share, whey protein's consumption will be affected positively in the upcoming years too.
On the basis of application, mayonnaise segment holds the maximum share in the market.
On the basis of region, North America stands as the largest shareholder on the grounds of consumption and production.

Egg Replacement Ingredients Market -Driving Factors

The rising consumption of cakes, chocolate, mayonnaise, muffins has surged the demand for egg-replacement ingredients.
Popularity of plant based food and rising consumer awareness towards product with low cholesterol is also acting as a driving factor.
A milestone opportunity has been created by developing and developed economies due to rising economic opportunities and rising demand for vegan food.

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Egg Replacement Ingredients Market — Key Restraints

Increased cost of the final product acts as a major restraint.

These ingredients do not give the same taste as that of eggs, therefore, causing a major productivity loss.

Expected Impact on Market by Coronavirus Outbreak

Strict lockdown and social distancing is likely to reduce the production of egg replacement ingredients. Consumption can be affected adversely because people are now shifting to natural food products. Though it is an essential element, there might be a different demand-supply graph in the future. Manufacturers are now focussing on healthier and gluten-free products to capture maximum attention and go back to the pre-pandemic position.

Competitive Landscape

Key players in the market include Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G Foods, Inc., Natural Products, Inc., Orchard Valley Foods Limited, Puratos Group, TerraVia Holdings, Inc., and Archer Daniels Midland Company.

Companies take up unique strategies to expand their market and product portfolio to gain profit. Key players are focussing on Kosher certified, gluten-free and GMO free products

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More on the report

This report presents an analysis on the basis of segments including ingredient (milk protein formulation, starch, soy products, protein etc.), application (chocolates, muffins, mayonnaise, pasta etc.) end-use (commercial, large-scale and small-scale food manufacturers etc.) and region (North America, Europe, South Asia etc.)

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SOURCE: Future Market Insights

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