Cost is a major driving factor for many food manufacturers to consider egg replacement options. In industrial baking, challenges are approaching bakers to look for solution to deal with volatile supply chain costs and serve the growing demand for products. Companies are always searching for options to reduce raw material costs and to cop raw material availability due to the fluctuations in egg prices. The fluctuations in prices of Liquid whole eggs, whites, yolks and powdered eggs significantly affect the cost of use in bakery products. For instance the Ukrainian Agribusiness Club (UCAB) business association forecasts that a record-breaking drop in egg production in Ukraine since the beginning of 2021 is likely to drive egg prices on the domestic market to new heights. From January to May of 2021, egg production in Ukraine dropped by as much as 25%, which caused temporary shortage in the domestic market. These sudden cost increases can have an enormous effect on businesses, causing bakers to seek out for reliable solutions to fulfill the functions eggs provide. Moreover in 2018, when egg prices were going through an extended period of volatility, Arla Foods Ingredients launched a online egg calculator to help out bakery companies in calculating how much they could save by using egg replacers in their cake recipes.
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Impact of COVID-19 Pandemic on Global Egg Replacers Market
COVID-19 pandemic impacted mental and physical well-being of people globally which made consumers more concerned and aware about their health and well-being. Surge in consumer spending on food products is been seen during the pandemic. Moreover, egg replacers’ products witnessed an increase in demand as a result of shortage of eggs in retail stores due to movement restrictions.
Segmental Outlook
The global Egg Replacers market is segmented based on the source, application and ingredients. Based on the source, the market is segmented into plants and animal. Based on the application, the market is sub-segmented into the bakery and confectionery, dressings and spreads, savories and sauces, and others. Based on the ingredient the market is sub-segmented into dairy proteins, starch, algal flour, soy-based products. The above mentioned segments can be customized as per the requirements.
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by Source (Plant and Animal),
by application (Bakery and Confectionery, Dressings and Spreads, Savories and Sauces, and Others)
by Ingredient (Dairy Proteins, Starch, Algal Flour, Soy-based Products)
Market Players Outlook
The major companies serving the global Egg Replacers market include Archer Daniels Midland Company, Cargill Inc., Danone S.A., DuPont de Nemours, Inc.,Fiberstar, Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Plant B has announced an upcoming launch of its lupin-based liquid egg product across Germany after 15 months of development. The company claims that its plant-based egg alternative behaves like regular eggs, while saves 50% of the calories. The product is market as ready-to-cook fresh item suitable for use in baking and cooking.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global egg replacers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market
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