“Global Egg Substitutes Market to reach a market value of USD 4.1 Billion by 2031 growing at a CAGR of 16.4%”
The Global Egg Substitutes Market size is expected to reach $4.1 billion by 2031, rising at a market growth of 16.4% CAGR during the forecast period.
The rising demand for these substitutes in North America reflects broader trends toward health and wellness, sustainability, and alternative diets. An important factor promoting the use of these substitutes is the prevalence of egg allergies, which are relatively common in North America, especially among children. Consequently, the North America region generated 34.2% revenue share of the market in 2023. The region's inclination towards health and wellness trends has seen consumers actively seeking alternatives that offer health benefits without compromising taste or convenience.
The trend toward vegan and vegetarian lifestyles is driven by various factors, including health, environmental, and ethical considerations. Plant-based options like tofu, aquafaba (chickpea brine), and various plant proteins are used as alternatives in baking, cooking, and other culinary applications. Thus, this development will aid the market's growth in the coming years. Additionally, Ongoing research and development efforts have focused on improving these substitutes' texture, flavor, and nutritional profile, making them more appealing to consumers. One key advancement in these substitutes is the development of plant-based options that closely resemble the taste and texture of eggs. Ingredients such as soy, pea, and chickpea flour create these substitutes for baking, cooking, and other culinary applications. These plant-based alternatives offer a cruelty-free and sustainable option and cater to consumers with dietary restrictions or preferences. Hence, technological advancements have driven these substitutes' acceptance and market growth.
However, Real eggs are a longstanding and familiar ingredient in many culinary traditions, offering a natural source of protein and nutrients at an affordable price point. The familiarity and perceived nutritional value of real eggs can make them a preferred choice for many consumers, limiting the growth potential of these substitutes. One of the key factors driving competition from real eggs is their widespread availability and accessibility. Real eggs are a staple in grocery stores and markets worldwide, making them easily accessible to consumers. Hence, these factors may hamper the growth of the market.
Based on form, the market is bifurcated into dry and liquid. The dry segment garnered 57.1% revenue share in the market in 2023. This segment includes powdered egg replacers made from ingredients like starches, leavening agents, and other plant-based ingredients. Unlike fresh eggs, which have a limited shelf life and require refrigeration, dry egg substitutes can be stored at room temperature for extended periods, making them more convenient for consumers. As consumer demand for these products grows, the dry segment is expected to expand further in the coming years.
By distribution channel, the market is divided into online stores, supermarkets & hypermarkets, convenience stores, and specialty stores. The online stores segment garnered a 16% revenue share in the market in 2023. Online shopping offers convenience, allowing consumers to browse and purchase these substitutes from the comfort of their homes or on-the-go using mobile devices. This convenience particularly appeals to busy consumers looking for quick, easy shopping solutions. Moreover, online stores often offer various these substitutes, including different brands, flavors, and types (liquid or powdered). This variety allows consumers to explore and choose products that suit their dietary preferences and needs.
On the basis of application, the market is segmented into bakery & confectionery, savories, sauces, and dressings & spreads. The bakery & confectionery segment acquired 42.86% revenue share in the market in 2023. Urbanization has led to busier lifestyles, increasing the demand for convenient and ready-to-eat food options like pastries, cakes, and chocolates. There is a growing demand for premium and artisanal bakery and confectionery products, driven by consumers' desire for unique and high-quality offerings.
Free Valuable Insights: Global Egg Substitutes Market size to reach USD 4.1 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region acquired a 29% revenue share in the market in 2023. The region's growing population and urbanization have led to changes in dietary habits, with consumers seeking convenient and healthier food options. These substitutes offer a convenient and versatile alternative to traditional eggs in cooking and baking. Additionally, manufacturers in Asia Pacific are introducing new and innovative egg substitute products to cater to consumers' changing preferences.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.2 Billion |
| Market size forecast in 2031 | USD 4.1 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 16.4% from 2024 to 2031 |
| Number of Pages | 214 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Form, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Fiberstar, Inc., Florida Food Products, LLC (Ardian France S.A.), Glanbia plc, Tate & Lyle PLC, Ingredion Incorporated, Corbion N.V., Arla Foods, Inc., Kerry Group PLC, MGP Ingredients, Inc., Cargill, Incorporated |
By Form
By Distribution Channel
By Application
By Geography
This Market size is expected to reach $4.1 billion by 2031.
Growing Adoption of Vegan and Vegetarian Lifestyles are driving the Market in coming years, however, Significant Competition from Real Eggs restraints the growth of the Market.
Fiberstar, Inc., Florida Food Products, LLC (Ardian France S.A.), Glanbia plc, Tate & Lyle PLC, Ingredion Incorporated, Corbion N.V., Arla Foods, Inc., Kerry Group PLC, MGP Ingredients, Inc., Cargill, Incorporated
The expected CAGR of this Market is 16.4% from 2024 to 2031.
The North America region dominated the Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.3 billion by 2031.
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