Egg
Substitutes Market Introduction
Egg
substitutes are the foods which can be used for replacing eggs in
cooking and bakery. These products are preferable mostly for the
vegans. Most of these products are devoid of all animal products and
contain no cholesterol. The substitutes does not affect the taste and
appearance of the end product. It find extensive application in
products such as cakes, muffins, mayonnaise, chocolates, custard, ice
cream, cookies and others which is leading to growth of egg
substitutes market at a significant rate. There are consumers who
choose and prefer not to consume any products obtained from animal,
for them it is preferable to consume egg substitutes in food instead
of eggs. Egg substitutes are no less than eggs in terms of
nutritional values and upon that egg substitutes are cholesterol
free, gluten free with high amount of Vitamin A and B12, etc. are
some of the factors driving the market. Apart from all the
nutritional benefits and applications of egg substitutes, it has few
cons also like it is not cost effective in some regions and for
consumers who looks for good food in nominal price these are little
expensive.
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Egg
substitutes Market Segmentation
Egg
substitutes market can be segmented on the basis of form, ingredient,
application, packaging, distribution channels and regions.
On
the basis of form egg substitutes market can be segmented into liquid
and solid form. Among both the segment powder segment is expected to
account major value share in the global egg substitutes market.
On
the basis of ingredient egg substitutes market can be segmented in
milk protein formulation, algal flour, protein, starch, soy products,
fruit purees and vinegar. Out of these ingredient, egg substitutes
are mostly used in milk protein formulation and also used as a source
of protein in energy drinks.
On
the basis of application, egg substitutes market is segmented into
confectionery products, bakery products, spreads, dressings and
savories.
On
the basis of packaging, egg substitutes market can be segmented into
tetra-packs, PET jars and bottles, egg trays and others. On the basis
of distribution channel, the egg-substitutes market can be segmented
into direct and indirect sales channel. The indirect sales channel
can be further sub-segmented into online, modern trade format,
convenience stores, departmental stores and retails.
Depending
upon the geographic regions, egg substitutes market can be segmented
into four regions which includes North America, Latin America,
Europe, Middle East, Africa and Asia-Pacific. North America accounted
for the largest share in the egg substitutes market.
Egg
Substitutes Market Drivers, Restraints and Trends
Recently
the rising price of the eggs and increasing customer awareness
towards preventive healthcare is boosting up demand in egg
substitutes market. Egg shortages are also there due to different
diseases like influenza, bird flu, which is triggering the market for
the substitutes to grow. Due to the shortage of eggs in the market,
their price is increasing forcing consumers for egg substitutes.
Rising consumer awareness towards preventive healthcare and an
inclination towards product with low cholesterol is likely to fuel
the growth of this market. Manufacturers are also focusing on the
vegetarians or vegans who are demanding for egg substitute products
as they cannot use eggs. Using the egg substitutes is advantageous as
it is rich in protein content with very low fat and cholesterol as
there is no yolk.
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However,
egg substitutes are not cost effective and does not offer the exact
same taste as of eggs which is hindering the market to grow.
Egg
substitutes market Key Players
The
key industry players in global Egg substitutes market are Cargill
Incorporated, Ingredion Incorporated, Archer Daniels Midland Company,
Glanbia Plc, Kerry Group, Cobion and Orchar Valley Foods Limited.
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