Global Egg Substitutes Market: Overview
The global egg substitutes market is prognosticated to expand with the increase in egg prices. Since egg substitutes could be an affordable option, the demand in the global market is expected to see a rise in the coming years. On the other hand, the rise in awareness about preventive healthcare could set the tone for significant growth of the global egg substitutes market. Egg shortage caused due to the increasing prevalence of bird flu and influenza is foreseen to stoke the demand in the global egg substitutes market.
The global egg substitutes market could be divided as per five segmentation categories, viz. distribution channel, packaging, application, ingredient, and form. Among ingredients, milk protein formulation is projected to impress with its share of the global egg substitutes market.
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The report takes into account all possible factors that could prove to be vital for the growth of the global egg substitutes market. It provides detailed regional analysis of the egg substitutes market so that players could focus on key geographies for attaining a larger share.
Global Egg Substitutes Market: Trends and Opportunities
Increasing inclination toward lowering cholesterol levels could bode well for the global egg substitutes market. This could be due to the risk of high cholesterol associated with the consumption of egg yolk. The growing trend of following a vegan diet is foreseen to increase the demand in the global egg substitutes market. Players could largely target vegans to improve their sales in the global egg substitutes market. Vegans usually prefer egg substitutes to avoid the consumption of eggs but receive the same health benefits. Since there is no egg yolk, egg substitutes are low in cholesterol and fat but rich in protein.
However, the factors of taste and cost-effectiveness could hamper the growth of the global egg substitutes market. Nevertheless, egg substitutes in powder form are foretold to gain much demand in the near future. Moreover, egg substitutes are used in various applications such as savories, dressings, spreads, bakery products, and confectionery.
Global Egg Substitutes Market: Geographical Analysis
North America is prophesied to account for a colossal share of the egg substitutes market. High disposable income could be a powerful factor supporting the demand in the North America egg substitutes market. High awareness about the ill effects of high cholesterol on the human body is envisaged to trigger more demand in the North America egg substitutes market. Asia Pacific could be another rewarding region for the egg substitutes market owing to the high influence of the Western culture and eating habits. High incidence of cholesterol-related diseases is also predicted to create opportunities in the Asia Pacific egg substitutes market.
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Global Egg Substitutes Market: Companies Mentioned
The global egg substitutes market marks the presence of leading companies, including Glanbia Plc., Kerry Group, Archer Daniels Midland Company, Ingredion Incorporated, and Cargill Incorporated. Manufacturers are anticipated to focus on merger and acquisition, new product launch, and collaboration for cementing a strong position in the global egg substitutes market.