Egg Replacement Ingredients Market Size, Trends and Insights By Type (Bakery & confectionery, Mayonnaise & sauces, Others), By Application (Liquid and Powder Form), By Form (Plant and Animal), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI28166

Published Date: August 2023

Pages: 220+

Category: Food & Beverages

Report Snapshot

CAGR: 6.5%
1152.23M
2022
1163.76M
2023
1267.53M
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Ingredion Inc.
  • Cargill Inc.
  • Archer Daniels Midland Company
  • Ener-G Foods Inc.
  • Glanbia plc
  • Others

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Reports Description

As per the current market research conducted by CMI Team, the global Egg Replacement Ingredients Market is expected to record a CAGR of 6.5% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 1152.23 million. By 2032, the valuation is anticipated to reach USD 1267.53 million.

The Egg Replacement Ingredients market refers to the segment of the food industry that deals with products and ingredients used as alternatives to eggs in various food products. These ingredients are utilized to replicate the functional properties of eggs, such as binding, emulsifying, leavening, and moisture retention, in a wide range of food applications. The market for egg replacement ingredients has gained prominence due to various factors, including dietary preferences, allergies, ethical considerations, and sustainability concerns.

Egg replacement ingredients are particularly important for individuals who follow vegan, vegetarian, or plant-based diets, as well as those with egg allergies or sensitivities. They offer a way to create plant-based or allergen-friendly versions of traditional egg-containing foods. Additionally, these ingredients can be used to reduce cholesterol, fat, and overall calories in food products.

Common types of egg replacement ingredients include:

  • Plant-Based Ingredients: These include substances like flaxseeds, chia seeds, aquafaba (chickpea brine), silken tofu, and mashed bananas, which can provide binding and moisture-retaining properties in recipes.
  • Starches and Hydrocolloids: Ingredients such as cornstarch, arrowroot starch, potato starch, xanthan gum, and guar gum can be used to mimic the thickening and binding properties of eggs.
  • Commercial Egg Replacers: Many companies offer commercially produced egg replacement products, often in powder or liquid form. These products are specifically formulated to replicate the functional properties of eggs.
  • Dairy Alternatives: Ingredients like yogurt, buttermilk, and milk alternatives such as almond milk or soy milk can provide moisture, flavor, and texture similar to eggs in recipes.
  • Chemical Leavening Agents: Baking powder and baking soda can contribute to leavening in recipes, which is especially important for baked goods.

Egg Replacement Ingredients Market – Significant Growth Factors

  • Rising Demand for Plant-Based and Vegan Diets: The increasing adoption of plant-based and vegan diets, driven by health, environmental, and ethical concerns, has fueled the demand for egg replacement ingredients. These ingredients enable individuals to create plant-based versions of their favourite foods without using animal products.
  • Allergen and Sensitivity Awareness: Growing awareness of allergies and sensitivities to eggs has led consumers to seek alternatives. Egg replacement ingredients provide a safe and allergen-friendly option for those with egg allergies or sensitivities.
  • Health and Nutrition Concerns: As consumers become more health conscious, they are looking for ways to reduce cholesterol and saturated fat intake. Egg replacement ingredients offer a way to achieve healthier formulations while maintaining food functionality.
  • Sustainability and Environmental Impact: Concerns about the environmental impact of egg production, including land use and greenhouse gas emissions, have led to a shift toward more sustainable food choices. Egg replacement ingredients, especially those sourced from plant-based options, align with sustainability goals.
  • Innovative Food Product Development: Food manufacturers and chefs are continually experimenting with new recipes and products that cater to changing dietary preferences. Egg replacement ingredients enable them to create innovative and unique offerings for consumers.
  • Advancements in Food Science and Technology: Ongoing advancements in food science and technology have led to the development of more sophisticated and effective egg replacement ingredients that closely mimic the functional properties of eggs.
  • Global Culinary Diversity: As traditional cuisines from around the world become more popular, the need for egg replacements to adapt recipes to different dietary and cultural preferences has grown.
  • Marketing and Education: Effective marketing campaigns and educational initiatives have raised awareness about egg replacement ingredients and their benefits, driving consumer interest and adoption.
  • Convenience and Availability: The availability of egg replacement ingredients in various forms, such as powders, liquid formulations, and ready-to-use products, has made it easier for consumers and manufacturers to incorporate them into recipes.
  • Regulatory and Labeling Changes: Clear labelling of egg replacement ingredients as suitable for specific dietary needs or preferences has improved consumer trust and made it easier for individuals to identify and choose these products.

Egg Replacement Ingredients Market – Mergers and Acquisitions

In July 2021, Nabati Foods, a Canadian food tech company, introduced a groundbreaking innovation to the market: the “First Canadian-made plant-based egg substitute.” Branded as Nabati Plant Eggz, this liquid egg substitute stands out for being soy-free, gluten-free, and cholesterol-free.

Additionally, it boasts notable nutritional qualities, including high fiber and protein content, along with essential vitamins such as vitamin B12.

Around the same time, Japanese food tech firm Next Meats expanded its array of alternative protein offerings by unveiling a novel egg substitute called Next Egg 1.0. This 100% vegan egg alternative is poised to make its debut in the Japanese market via business-to-business (B2B) distribution channels.

The introduction of Next Egg 1.0 demonstrates the company’s commitment to providing innovative plant-based options to consumers.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Egg Replacement Ingredients Market Cultured Meat Market Meat Substitute Market
CAGR 6.5% (Approx) CAGR 15% (Approx) CAGR 42.1% (Approx)
USD 1267.53 million by 2032 USD 450 Million by 2030 USD 233.87 Billion by 2032

Egg Replacement Ingredients Market – Significant Threats

  • Consumer Acceptance and Taste: Consumers may have varying levels of acceptance and satisfaction with the taste, texture, and overall sensory experience of products made with egg replacement ingredients, which could influence their purchasing decisions.
  • Ingredient Quality and Functionality: The performance of egg replacement ingredients may not always match the functional properties of real eggs, potentially affecting the quality and characteristics of the final food product.
  • Regulatory Challenges: Evolving regulations and standards for labelling and ingredient claims may impact how egg replacement ingredients can be marketed, potentially causing confusion or legal issues.
  • Supply Chain Disruptions: Disruptions in the supply chain, such as shortages or fluctuations in the availability of key ingredients, can impact the production and availability of egg replacement products.
  • Allergen Cross-Contamination: Some egg replacement ingredients may be produced in facilities that also handle allergens, raising the risk of cross-contamination and potentially impacting consumers with allergies.
  • Competition with Real Eggs: Traditional eggs remain a staple ingredient, and competition from conventional egg products could affect the market share of egg replacement ingredients.
  • Health and Nutrition Concerns: Consumer perceptions of the nutritional value of egg replacement ingredients compared to real eggs, including protein content and other nutrients, could impact demand.
  • Product Pricing: The cost of producing egg replacement ingredients could impact their pricing and affordability, potentially influencing consumer choices.
  • Technical Challenges in Formulation: Achieving the desired taste, texture, and performance in various food applications can pose technical challenges for food manufacturers using egg replacement ingredients.
  • Misinformation and Skepticism: Misinformation or skepticism about the benefits or safety of egg replacement ingredients could affect consumer trust and adoption.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 1163.76 Million
Projected Market Size in 2032 USD 1267.53 Million
Market Size in 2022 USD 1152.23 Million
CAGR Growth Rate 6.5% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Application, Form and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type: In the year 2023, the starch segment emerged as a dominant player, accounting for 38.9% of the overall market share. This prominence can be attributed to the escalating cost of eggs, prompting a growing number of bakers to turn to starch as a viable replacement. In response to the increasing demand for starch-based egg substitutes, a multitude of enterprises are innovating and introducing novel starch products to cater to this market trend.

By Form: In terms of form, the powder segment is poised for remarkable growth with an anticipated Compound Annual Growth Rate (CAGR) of 7% over the forecast period. This prominence is attributed to the powder’s effortless integration with bakery dough and various other products, coupled with its extended shelf life. These powdered egg replacement ingredients offer a safe alternative for individuals with egg allergies and are well-suited for those adhering to egg-free diets. In contrast to liquid egg substitutes containing eggs, these powders provide a reliable and allergen-friendly option.

Global Egg Replacement Ingredients Market 2023–2032 (By Million)

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Egg Replacement Ingredients Market – Regional Analysis

North America:

  • North America has been a significant market for egg replacement ingredients, driven by the increasing adoption of plant-based and allergen-free diets.
  • The United States and Canada have witnessed a growing demand for egg replacement products due to health and ethical considerations, contributing to market expansion.
  • The presence of well-established food and beverage industries and a strong focus on innovation further stimulate market growth.

Europe:

  • Europe has seen a surge in demand for egg replacement ingredients, driven by the rise of vegetarian, vegan, and flexitarian diets.
  • Countries like Germany, the United Kingdom, France, and the Netherlands have been prominent markets for egg replacement products, with consumers seeking plant-based and healthier alternatives.
  • Stringent regulations on food labelling and allergen information have also influenced the adoption of egg-replacement ingredients.

Asia-Pacific:

  • The Asia-Pacific region is witnessing a growing awareness of health and dietary choices, contributing to the demand for egg replacement ingredients.
  • Countries such as Japan, China, South Korea, and Australia have seen an increase in plant-based diets and a preference for allergen-free foods.
  • Traditional cuisines in the region have also led to opportunities for egg replacement ingredients in local recipes and dishes.

List of the prominent players in the Egg Replacement Ingredients Market:

  • Ingredion Inc.
  • Cargill Inc.
  • Archer Daniels Midland Company
  • Ener-G Foods Inc.
  • Glanbia plc
  • Corbion NV
  • Tate & Lyle PLC
  • DuPont de Nemours Inc.
  • Puratos Group NV
  • Kerry Group plc
  • Koninklijke DSM N.V.
  • Fiberstar Inc.
  • MGP Ingredients Inc.
  • DowDuPont Inc.
  • TerraVia Holdings Inc.
  • The Scoular Company
  • Arla Foods amba
  • Euroduna Food Ingredients GmbH
  • Suedzucker AG
  • Others

The Egg Replacement Ingredients Market is segmented as follows:

By Type

  • Bakery & confectionery
  • Mayonnaise & sauces
  • Others

By Application

  • Liquid and powder form

By Form

  • Plant and Animal

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Egg Replacement Ingredients Market, (2023 – 2032) (USD Million)
    • 2.2 Global Egg Replacement Ingredients Market : snapshot
  • Chapter 3. Global Egg Replacement Ingredients Market – Industry Analysis
    • 3.1 Egg Replacement Ingredients Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Rising Demand for Plant-Based and Vegan Diets
      • 3.2.2 Allergen and Sensitivity Awareness
      • 3.2.3 Health and Nutrition Concerns
      • 3.2.4 Sustainability and Environmental Impact
      • 3.2.5 Innovative Food Product Development
      • 3.2.6 Advancements in Food Science and Technology
      • 3.2.7 Global Culinary Diversity
      • 3.2.8 Marketing and Education
      • 3.2.9 Convenience and Availability
      • 3.2.10 Regulatory and Labeling Changes.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Application
      • 3.7.3 Market attractiveness analysis By Form
  • Chapter 4. Global Egg Replacement Ingredients Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Egg Replacement Ingredients Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Egg Replacement Ingredients Market – Type Analysis
    • 5.1 Global Egg Replacement Ingredients Market overview: By Type
      • 5.1.1 Global Egg Replacement Ingredients Market share, By Type, 2022 and 2032
    • 5.2 Bakery & confectionery
      • 5.2.1 Global Egg Replacement Ingredients Market by Bakery & confectionery , 2023 – 2032 (USD Million)
    • 5.3 Mayonnaise & sauces
      • 5.3.1 Global Egg Replacement Ingredients Market by Mayonnaise & sauces , 2023 – 2032 (USD Million)
    • 5.4 Others
      • 5.4.1 Global Egg Replacement Ingredients Market by Others, 2023 – 2032 (USD Million)
  • Chapter 6. Global Egg Replacement Ingredients Market – Application Analysis
    • 6.1 Global Egg Replacement Ingredients Market overview: By Application
      • 6.1.1 Global Egg Replacement Ingredients Market share, By Application, 2022 and 2032
    • 6.2 Liquid and powder form
      • 6.2.1 Global Egg Replacement Ingredients Market by Liquid and powder form, 2023 – 2032 (USD Million)
  • Chapter 7. Global Egg Replacement Ingredients Market – Form Analysis
    • 7.1 Global Egg Replacement Ingredients Market overview: By Form
      • 7.1.1 Global Egg Replacement Ingredients Market share, By Form, 2022 and 2032
    • 7.2 Plant and Animal
      • 7.2.1 Global Egg Replacement Ingredients Market by Plant and Animal, 2023 – 2032 (USD Million)
  • Chapter 8. Egg Replacement Ingredients Market – Regional Analysis
    • 8.1 Global Egg Replacement Ingredients Market Regional Overview
    • 8.2 Global Egg Replacement Ingredients Market Share, by Region, 2022 & 2032 (USD Million)
    • 8.3. North America
      • 8.3.1 North America Egg Replacement Ingredients Market, 2023 – 2032 (USD Million)
        • 8.3.1.1 North America Egg Replacement Ingredients Market, by Country, 2023 – 2032 (USD Million)
    • 8.4 North America Egg Replacement Ingredients Market, by Type, 2023 – 2032
      • 8.4.1 North America Egg Replacement Ingredients Market, by Type, 2023 – 2032 (USD Million)
    • 8.5 North America Egg Replacement Ingredients Market, by Application, 2023 – 2032
      • 8.5.1 North America Egg Replacement Ingredients Market, by Application, 2023 – 2032 (USD Million)
    • 8.6 North America Egg Replacement Ingredients Market, by Form, 2023 – 2032
      • 8.6.1 North America Egg Replacement Ingredients Market, by Form, 2023 – 2032 (USD Million)
    • 8.7. Europe
      • 8.7.1 Europe Egg Replacement Ingredients Market, 2023 – 2032 (USD Million)
        • 8.7.1.1 Europe Egg Replacement Ingredients Market, by Country, 2023 – 2032 (USD Million)
    • 8.8 Europe Egg Replacement Ingredients Market, by Type, 2023 – 2032
      • 8.8.1 Europe Egg Replacement Ingredients Market, by Type, 2023 – 2032 (USD Million)
    • 8.9 Europe Egg Replacement Ingredients Market, by Application, 2023 – 2032
      • 8.9.1 Europe Egg Replacement Ingredients Market, by Application, 2023 – 2032 (USD Million)
    • 8.10 Europe Egg Replacement Ingredients Market, by Form, 2023 – 2032
      • 8.10.1 Europe Egg Replacement Ingredients Market, by Form, 2023 – 2032 (USD Million)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Egg Replacement Ingredients Market, 2023 – 2032 (USD Million)
        • 8.11.1.1 Asia Pacific Egg Replacement Ingredients Market, by Country, 2023 – 2032 (USD Million)
    • 8.12 Asia Pacific Egg Replacement Ingredients Market, by Type, 2023 – 2032
      • 8.12.1 Asia Pacific Egg Replacement Ingredients Market, by Type, 2023 – 2032 (USD Million)
    • 8.13 Asia Pacific Egg Replacement Ingredients Market, by Application, 2023 – 2032
      • 8.13.1 Asia Pacific Egg Replacement Ingredients Market, by Application, 2023 – 2032 (USD Million)
    • 8.14 Asia Pacific Egg Replacement Ingredients Market, by Form, 2023 – 2032
      • 8.14.1 Asia Pacific Egg Replacement Ingredients Market, by Form, 2023 – 2032 (USD Million)
    • 8.15. Latin America
      • 8.15.1 Latin America Egg Replacement Ingredients Market, 2023 – 2032 (USD Million)
        • 8.15.1.1 Latin America Egg Replacement Ingredients Market, by Country, 2023 – 2032 (USD Million)
    • 8.16 Latin America Egg Replacement Ingredients Market, by Type, 2023 – 2032
      • 8.16.1 Latin America Egg Replacement Ingredients Market, by Type, 2023 – 2032 (USD Million)
    • 8.17 Latin America Egg Replacement Ingredients Market, by Application, 2023 – 2032
      • 8.17.1 Latin America Egg Replacement Ingredients Market, by Application, 2023 – 2032 (USD Million)
    • 8.18 Latin America Egg Replacement Ingredients Market, by Form, 2023 – 2032
      • 8.18.1 Latin America Egg Replacement Ingredients Market, by Form, 2023 – 2032 (USD Million)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Egg Replacement Ingredients Market, 2023 – 2032 (USD Million)
        • 8.19.1.1 The Middle-East and Africa Egg Replacement Ingredients Market, by Country, 2023 – 2032 (USD Million)
    • 8.20 The Middle-East and Africa Egg Replacement Ingredients Market, by Type, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Egg Replacement Ingredients Market, by Type, 2023 – 2032 (USD Million)
    • 8.21 The Middle-East and Africa Egg Replacement Ingredients Market, by Application, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Egg Replacement Ingredients Market, by Application, 2023 – 2032 (USD Million)
    • 8.22 The Middle-East and Africa Egg Replacement Ingredients Market, by Form, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Egg Replacement Ingredients Market, by Form, 2023 – 2032 (USD Million)
  • Chapter 9. Company Profiles
    • 9.1 Ingredion Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Cargill Inc.
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Archer Daniels Midland Company
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Ener-G Foods Inc.
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Glanbia plc
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Corbion NV
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Tate & Lyle PLC
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 DuPont de Nemours Inc.
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Puratos Group NV
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Kerry Group plc
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Koninklijke DSM N.V.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Fiberstar Inc.
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 MGP Ingredients Inc.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
    • 9.14 DowDuPont Inc.
      • 9.14.1 Overview
      • 9.14.2 Financials
      • 9.14.3 Product Portfolio
      • 9.14.4 Business Strategy
      • 9.14.5 Recent Developments
    • 9.15 TerraVia Holdings Inc.
      • 9.15.1 Overview
      • 9.15.2 Financials
      • 9.15.3 Product Portfolio
      • 9.15.4 Business Strategy
      • 9.15.5 Recent Developments
    • 9.16 The Scoular Company
      • 9.16.1 Overview
      • 9.16.2 Financials
      • 9.16.3 Product Portfolio
      • 9.16.4 Business Strategy
      • 9.16.5 Recent Developments
    • 9.17 Arla Foods amba
      • 9.17.1 Overview
      • 9.17.2 Financials
      • 9.17.3 Product Portfolio
      • 9.17.4 Business Strategy
      • 9.17.5 Recent Developments
    • 9.18 Euroduna Food Ingredients GmbH
      • 9.18.1 Overview
      • 9.18.2 Financials
      • 9.18.3 Product Portfolio
      • 9.18.4 Business Strategy
      • 9.18.5 Recent Developments
    • 9.19 Suedzucker AG
      • 9.19.1 Overview
      • 9.19.2 Financials
      • 9.19.3 Product Portfolio
      • 9.19.4 Business Strategy
      • 9.19.5 Recent Developments
    • 9.20 Others.
      • 9.20.1 Overview
      • 9.20.2 Financials
      • 9.20.3 Product Portfolio
      • 9.20.4 Business Strategy
      • 9.20.5 Recent Developments
List Of Figures

Figures No 1 to 21

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • Ingredion Inc.
  • Cargill Inc.
  • Archer Daniels Midland Company
  • Ener-G Foods Inc.
  • Glanbia plc
  • Corbion NV
  • Tate & Lyle PLC
  • DuPont de Nemours Inc.
  • Puratos Group NV
  • Kerry Group plc
  • Koninklijke DSM N.V.
  • Fiberstar Inc.
  • MGP Ingredients Inc.
  • DowDuPont Inc.
  • TerraVia Holdings Inc.
  • The Scoular Company
  • Arla Foods amba
  • Euroduna Food Ingredients GmbH
  • Suedzucker AG
  • Others

FAQs

The key factors driving the Market are Rising Demand for Plant-Based and Vegan Diets, Allergen and Sensitivity Awareness, Health and Nutrition Concerns, Sustainability and Environmental Impact, Innovative Food Product Development, Advancements in Food Science and Technology, Global Culinary Diversity, Marketing and Education, Convenience and Availability And Regulatory and Labeling Changes.

The “Type” category dominated the market in 2022.

The key players in the market are Ingredion Inc., Cargill Inc., Archer Daniels Midland Company, Ener-G Foods Inc., Glanbia plc, Corbion NV, Tate & Lyle PLC, DuPont de Nemours Inc., Puratos Group NV, Kerry Group plc, Koninklijke DSM N.V., Fiberstar Inc., MGP Ingredients Inc., DowDuPont Inc., TerraVia Holdings Inc., The Scoular Company, Arla Foods amba, Euroduna Food Ingredients GmbH, Suedzucker AG, Others.

“North America” had the largest share in the Egg Replacement Ingredients Market.

The global market is projected to grow at a CAGR of 6.5% during the forecast period, 2023-2032.

The Egg Replacement Ingredients Market size was valued at USD 1152.23 Million in 2022.

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