Egg Replacement Ingredients Market New Developments and Strategies 2030 The global market for egg replacement ingredients, valued at approximately US$2.3 billion, is set to experience significant expansion, with a projected valuation of US$4 billion by the end of 2030. According to a comprehensive market analysis by [Your Company Name], this growth is expected to be driven by various key factors, including rising health and dietary concerns, the increasing demand for vegan and plant-based products, and the growing popularity of allergen-free solutions.
Steady Market Growth with a Promising CAGR The global egg replacement ingredients market is slated to achieve a promising Compound Annual Growth Rate (CAGR) of 6.5% over the forecast period from 2023 to 2030. This growth is attributed to several compelling market determinants that are reshaping the industry landscape. Key Growth Determinants •
Growing Health and Dietary Concerns: The shift toward vegan and vegetarian diets, driven by health, ethical, and environmental considerations, has led to an increased demand for egg replacement ingredients. These ingredients are crucial for creating plant-based and vegan-friendly alternatives to eggs in a wide range of food products. Additionally, egg allergies are a concern for many, and egg substitutes provide allergen-free options to cater to this demographic.
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Rising Boom Around Vegan and Plant-based Products: Veganism and plant-based diets are gaining traction globally. As more individuals embrace these dietary choices, the need for egg replacement products has surged. Plant-based protein sources like soy, peas, and legumes are commonly used in these diets, driving the demand for egg substitute components derived from these sources.