Egg Replacers Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

In 2024, the global egg replacer market is expected to reach USD 1.24 billion. It is expected to grow at a CAGR of 5.7% between 2016 and 2024. The growing demand for plant-based and vegetarian food products, which is mainly driven by the growing health awareness and changing dietary preferences, is the main reason for this market growth. Also, the growing awareness of animal welfare and the environment is driving consumers to look for alternatives to egg products. Furthermore, technological developments in the field of food science, especially the development of new plant-based ingredients, are further increasing the market potential for egg replacers. Companies such as Ener-G Foods, Follow Your Heart, and Just Egg are at the forefront of this development, and are launching new products to meet the diverse needs of consumers. Strategic initiatives such as the establishment of joint ventures with food manufacturers and the increase in research and development expenditure are also contributing to the growth of the egg replacer market. The growing demand for healthier and more sustainable food products is expected to boost the egg replacer market.

Regional Market Size

Regional Deep Dive

The egg replacer market is growing rapidly in various regions, driven by increasing demand for plant-based diets, growing health consciousness and the need for sustainable food alternatives. Each region shows unique characteristics, influenced by cultural preferences, regulatory frameworks and economic conditions. North America is leading in terms of innovation and product development, while Europe is more focused on compliance and safety. The Asia-Pacific region is seeing a strong increase in demand, resulting from changing dietary habits. Middle East and Africa are slowly adopting egg replacers as part of their evolving food landscape. Latin America is also starting to explore these alternatives, driven by a growing health consciousness and the rise of veganism.

Europe

• In Europe, the market is heavily influenced by stringent regulations regarding food safety and labeling, with organizations like the European Food Safety Authority (EFSA) playing a crucial role in ensuring compliance, thus shaping product offerings.
• The rise of clean label products is a notable trend, with companies like Oatly and The Vegg focusing on transparency and sustainability, which is expected to attract health-conscious consumers and boost market penetration.

Asia Pacific

• The Asia-Pacific region is experiencing rapid growth in the egg replacers market, particularly in countries like India and China, where changing dietary preferences and increased health awareness are driving demand for plant-based alternatives.
• Innovative products, such as aquafaba-based egg replacers, are gaining popularity, with local startups and established brands like The Good Food Institute promoting these alternatives to cater to the growing vegan population.

Latin America

• Latin America is beginning to embrace egg replacers, driven by a growing trend towards healthier eating and the rise of veganism, with companies like Veganz and local startups introducing innovative products to cater to this emerging market.
• Government programs promoting sustainable agriculture and food security are also influencing the market, encouraging the development of plant-based alternatives as a viable option for consumers.

North America

• The North American market is witnessing a surge in demand for egg replacers, particularly driven by the growing vegan and vegetarian population, with companies like JUST, Inc. and Ener-G Foods leading the charge in product innovation.
• Recent regulatory changes, such as the FDA's updated guidelines on food labeling, are encouraging transparency in ingredient sourcing, which is expected to enhance consumer trust and drive market growth.

Middle East And Africa

• In the Near East and Africa, the market is slowly developing. Awareness of the nutritional benefits of egg replacers is growing, encouraged by the efforts of the Food and Agriculture Organization of the United Nations, which is promoting a sustainable food system.
• Cultural shifts towards vegetarianism and veganism, particularly among younger consumers, are leading to a rise in demand for egg replacers, with local companies beginning to explore innovative formulations to meet this demand.

Did You Know?

“Did you know that aquafaba, the liquid from cooked chickpeas, is gaining popularity as a versatile egg replacer, capable of mimicking the properties of egg whites in recipes?” — The Good Food Institute

Segmental Market Size

The Egg Replacers sector plays a crucial role in the wider food industry, especially in the plant-based and vegan markets, which are currently experiencing significant growth. The growing interest in healthier, sustainable and cruelty-free food is combined with the increased awareness of dietary requirements, such as food intolerances, allergies and veganism. Furthermore, governments are encouraging the use of plant-based ingredients in their food policies, in order to combat climate change. In the Egg Replacers market, the use of Egg Replacers is at a mature stage, with companies like Just Egg and Ener-G Foods leading the way in terms of product innovation and market penetration. These products are mainly used in baking, cooking and food processing, where they replace eggs in recipes ranging from cakes to mayonnaise. The market is mainly driven by the increasing focus on sustainability and the impact of the Avian Influenza pandemic, which has shifted the public’s interest to healthier food. The development of newer Egg Replacers is being influenced by newer technology, such as fermentation and plant-based extraction.

Future Outlook

The egg-replacers market is set to grow at a significant CAGR of 5.7% from 2024 to 2032. This growth is based on the rise in demand for plant-based diets, the growing awareness of health and sustainability issues, and the continuous innovation in food technology. The penetration of egg replacers into baking, cooking, and processed food is set to increase substantially, with a penetration of more than 20% in 2032. The development of more effective and more versatile plant-based proteins is also expected to enhance the functionality of egg replacers. Also, supportive government policies promoting plant-based diets and sustainability are likely to drive the growth of the egg-replacers market. Lastly, the rise of flexitarianism and the growing popularity of vegetarian and vegan diets are likely to shape the preferences of consumers and increase their demand for new egg-replacers. The market is thus set to evolve, and companies that are able to increase the quality of their products and the range of their products will be well placed to capture a larger share of this growing market.