Asia-Pacific Plant-Based Egg Replacers Market, By Type (White Egg Replacement, Egg Yolk Replacement and Complete Egg Replacement), Source (Soy Protein, Pea Protein, Flaxseed, Chia Seeds, Wheat Protein, Algal Flour, Tapioca Starch, Potato Starch, Arrowroot Starch, Fava Bean, Mung Bean, and Others), Gum Used (Xanthan Gum, Cellulose Gum, Tara Gum, Carrageenan, and Others), Form (Powder, Liquid and Others), Function (Thickening, Glazing, Aeration and Batter Viscocity, Elasticity, Stability, Structure Retention, Glazing and Others), Nature (GMO and Non- GMO), Category (Conventional, Organic), Application (Bakery, Savory Food), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2029
Market Analysis and Insights: Asia-Pacific Plant-Based Egg Replacers Market
The Asia-Pacific plant-based egg replacers market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.7% in the forecast period of 2022 to 2029 and is expected to reach USD 705.97 million by 2029. Rising demand for plant-based and vegan food products coupled with increased awareness regarding the health benefits of the plant-based egg is anticipated to drive the plant-based egg replacers market growth.
The plant-based egg replacers only include commercial plant-based egg replacers and only those products that are labelled by the manufacturers as plant-based egg replacers or products for which the egg replacement is listed one of the application in their product descriptions. They are produced by plant-based raw materials such as protein isolates and concentrates, starches, legumes, cereals, and others. The plant-based eggs replacers replicate almost all of the functionality of conventional eggs. Plant-based egg replacers are simply intended to provide the binding properties needed for foods like cakes, muffins, and pancakes. They serve the purpose of stabilization, gelation, emulsification, and others. Plant-based eggs offer various health benefits such as are cholesterol-free, allergen-free, and hence, are opted by the consumers suffering from health issues related to cholesterol or who suffer from egg allergy. Additionally, plant-based eggs offer high food safety as they are made from plant-based raw material and thus reduces the risk of food-borne illness. Moreover, they are environmentally sustainable.
Plant-based egg replacers are rich in calcium and vitamin B12 and contain low fat and zero cholesterol. Therefore, are preferred by many consumers for the health benefits. Various manufacturers offer plant-based eggs in different packaging and prepared from different plant sources such as cereals, legumes, algae, and others. Moreover, the growing demand for plant-based eggs replacers among consumers owing to its health benefits coupled with the increasing trend of plant-based food and vegan food are the key factors driving the Asia-Pacific plant-based egg replacers market. However, lack of awareness about plant-based food may hamper the growth of the plant-based egg replacers market.
- In addition, lifestyle change, eating habits of consumers, and the increase in demand for plant-based food are expected to create huge opportunities for the Asia-Pacific plant-based egg replacers market. The supply chain disruption caused by COVID-19 may create a challenge for the Asia-Pacific plant-based egg replacers market.
The demand for the plant-based egg replacers is increasing, for which key players or companies are now more focused and are involved in expansion, innovation, and launches of products in the plant-based egg replacers market. These decisions are ultimately enhancing the growth of the Asia-Pacific plant-based egg replacers market. Various companies are making strategic decisions, such as forming agreements with research facilities to launch new products, to improve their market share. As a result, the plant-based egg replacers market is growing at a rapid rate. On the other hand, recent innovations and new product launches are creating new opportunities for the market. However, easy availability of alternative products is acting as a challenge for the Asia-Pacific plant-based egg replacers market.
The Asia-Pacific plant- based egg replacers market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Plant-Based Egg Replacers Market Scope and Market Size
The plant-based egg replacers market is segmented on the basis of type, source, gum used, form, function, nature, category, and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of plant-based egg type, the Asia-Pacific plant-based egg replacers market is segmented into white egg replacement, egg yolk replacement and complete egg replacement. In 2022, the White egg replacement segment is expected to dominate the plant-based egg replacers market due to various product launches of white egg preparation ingredient in the market.
- On the basis of source, the Asia-Pacific plant-based egg replacers market is segmented into soy protein, pea protein, flaxseed, chia seeds, wheat protein, algal flour, tapioca starch, potato starch, arrowroot starch, fava bean, mung bean, and others. In 2022, the soy protein segment is expected to dominate the plant-based egg replacers market due to the increasing demand for soy protein concentrates to give the plant-based egg replacers a great texture and to imitate the texture of conventional eggs among manufacturers.
- On the basis of gum used, the Asia-Pacific plant-based egg replacers market is segmented into xanthan gum, cellulose gum, tara gum, carrageenan, and others. In 2022, the xanthan gum segment is expected to dominate the plant-based egg replacers market due to its excellent binding and emulsifying property.
- On the basis of form, the Asia-Pacific plant-based egg replacers market is segmented into powder, liquid and others. In 2022, powder have dominated the market owing to the factors such as their easy to use nature. In addition, the prices of powder are affordable, which is driving the growth of the market in the forecast period.
- On the basis of function, the Asia-Pacific plant-based egg replacers market is segmented into thickening, glazing, aeration and batter viscosity, elasticity, stability, structure retention, and others. In 2022, stability segment is expected to dominate the market due to increasing consumer’s preference of plant-based egg replacers which maintains the stability of the food
- On the basis of nature, the Asia-Pacific plant-based egg replacers market is segmented into GMO and Non- GMO. In 2022, the non-GMO segment is expected to dominate the market as the majority of consumers demand non-GMO plant-based products due to its affordability and easy availability.
- On the basis of category, the Asia-Pacific plant-based egg replacers market is segmented into organic and conventional. In 2022, the conventional segment is expected to dominate the market as it provides better taste and more flavors along with easy availability.
- On the basis of application, the Asia-Pacific plant-based egg replacers market is segmented into bakery, and savory food. In 2021, the Bakery application segment is expected to dominate the plant-based egg replacers market due to the increasing demand for a plant-based egg replacers to prepare bakery products such as cakes, biscuits and others .
Asia-Pacific Plant-Based Egg Replacers Market Country Level Analysis
The Asia-Pacific plant-based egg replacers market is analyzed, and market size information is provided by the country, type, source, gum used, form, function, nature, category, and application as referenced above.
The countries covered in the Asia-Pacific plant-based egg replacers market report are China, Australia, Japan, South Korea, Singapore, Malaysia, Indonesia, Philippines, India, Thailand, and the rest of Asia-Pacific. China will grow in the forecasted period due to the ample availability of raw material to produce plant-based egg replacers coupled with rising adoption of veganism.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Plant-Based Egg Replacers is Boosting the Market Growth.
The plant-based egg replacers market also provides you with a detailed market analysis for every country's growth in the particular market. Additionally, it provides detailed information regarding the market players' strategy and their geographical presence. The data is available for the historic period 2011 to 2020.
Competitive Landscape and Plant-Based Egg Replacers Market Share Analysis
Plant-based egg replacers market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to the plant-based egg replacers market.
The major companies which are dealing in the Plant-based egg replacers DuPont, Alternative Foods, Ingredion, MGP, Kerry, Tate & Lyle, Corbion, Namaste Foods., J&K Ingredients, Inc., Fiberstar, Fismer Lecithin, All American Foods and Ener-G Foods, Inc., among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts, agreements, and launches are also initiated by companies worldwide, which are also accelerating the plant-based egg replacers market.
For instance,
- In October 2021, EVO Foods launched its plant-based liquid egg from legumes. The company also planned to launch its plant-based egg replacers products in the U.S. by the end of 2020. The launch has helped the company to increase its customer base
Collaboration, product launch, business expansion, award and recognition, joint ventures, and other strategies by the market player are enhancing the company's footprints in the plant-based egg replacers market which also provides the benefit for the organization's profit growth.
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