The Egg Replacement Ingredients Market will register a CAGR of almost 6% by 2023
LONDON, Dec. 5, 2018 /PRNewswire/ -- 111 pages, November 2018
About this market
The continual development of new products is expected to push considerable growth in the market. Vendors are regularly developing new products by investing significantly in R&D. Product developments by some vendors are expected to encourage competitors to come up with innovative products to sustain in the market. Technavio's analysts have predicted that the egg replacement ingredients market will register a CAGR of almost 6% by 2023.
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Market Overview
Growth in Vegan population
Demand for plant based alternatives across many food categories and applications has grown significantly in recent years. This is due to the factors such as allergenicity, sustainability and consumer shift towards vegan diets.
Concerns associated with usage of various egg replacement ingredients
Egg replacement ingredients are getting popular among companies as effective alternatives for egg-based products. However, various limitations exist in terms of using such egg replacement ingredients with a major concern being potential allergenicity.
For the detailed list of factors that will drive and challenge the growth of the egg replacement ingredients market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Archer Daniels Midland and Cargill, the competitive environment is quite intense. Factors such as the continual development of new products and growing popularity of clean label egg replacement ingredients, will provide considerable growth opportunities to egg replacement ingredients manufactures. Archer Daniels Midland, Cargill, DowDuPont, Glanbia, and Ingredion are some of the major companies covered in this report.
'With the presence of a considerable number of companies, this market appears to be fragmented. Vendors are regularly developing new products by investing significantly in R&D. Product developments by some vendors are expected to encourage competitors to come up with innovative products to sustain in the market.'
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