The global egg replacer market is witnessing huge growth due to various factors. For instance, according to OMR Research, the market is anticipated to grow at a CAGR of 6.5% during the forecast period of 2023–2029. The reason behind this growth is due in large part to the population's drive towards veganism and vegetarianism. Moreover, egg replacers help in cooking and baking, and they are good for long-lasting egg substitute. For instance, eggs can only last about two to five weeks at most if kept in the refrigerator, whereas egg replacers can last up to three years. Other factors that support the growth of the market are cooking with eggs, which can leave an eggy smell in dishes such as cakes, cookies, and others; egg allergies, especially in children; high fat and cholesterol levels in eggs; and others.
Segments of the Market
The global egg replacer market is segmented on the basis of source, application, and ingredients. Based on the source, the market is sub-segmented into animal and plant products. Based on the application, the market is sub-segmented into bakery and confectionery, savoury and sweet sauces, dressings and spreads, and others. Based on the ingredient, the market is sub-segmented into algal flour, starch, dairy proteins, and soy-based products.
Sources of Egg Substitutes
Plants
Plant-based egg replacers are also called vegan eggs since they do not contain any ingredients derived from animals. The most common form of vegan egg replacers are made with chickpeas and beans, which anyone can make at home. Another home-made egg substitute includes a mixture of bananas, canned pumpkin or squash, pureed prunes, and applesauce. Vegan eggs are a great substitute for eggs because they can be used by someone who is allergic to eggs and dairy products, and they are mostly gluten-free. In addition, market players are offering ready-made egg substitutes such as Evo Foods, Plant B, Yo-Egg, Cargill, Puris, Bob’s Red Mill, and others, which is driving the growth of plant-based egg replacers.
Animals
Animal-based egg replacers are not non-vegetarian or original eggs; instead, they are made of things that are derived from animals, such as dairy. When cooking or baking, yogurt or buttermilk, milk powder, or both are used. Besides, there are some other forms of dairy egg replacer products, such as Nutrilac from Arla Foods. These types of egg replacers are good for vegetarians who prefer dairy protein.
Recent Developments
Archer Daniels Midland Company, Plant B, Cargill, Inc., Danone S.A., Inc., Fiberstar, Inc., DuPont de Nemours, Ulrick & Short, Moolec Science, Arla Foods, Ingredion Incorporated, Tate & Lyle PLC, Glanbia PLC, Corbion N.V., and others are some of the key market players that are assisting in the market’s growth significantly with their new product innovations, investments, and other activities. A few of the recent developments in the egg replacer market in 2022 include:
• In October 2022, Puris, a plant-based food and ingredient provider, launched its first plant-based egg brand called AcreMade. The new brand uses yellow field peas as a protein source and offers an egg substitute in powdered form. The powder, according to the company, has similar nutrition to eggs and contains no cholesterol. In addition, it is gluten-free, non-GMO, and kosher.
• In March 2022, Berlin-based food technology startup Perfeggt announced plans to debut in the Swiss, German, and Austrian markets with its plant-based liquid egg alternative. The new product is made with fava bean protein and can be fried as an omelette or scrambled eggs. This product solves the issue of egg replacers that were not able to be used in omelettes, which restrained the market among people who prefer omelettes for breakfast. The company also raised more than $2.8 million in a funding round in 2022 with the assistance of investors, including Stray Dog Capital, E2JDJ, EVIG Group, Good Seed Ventures, Tet Ventures, Shio Capital, and Sustainable Food Ventures.
• In August 2022, Puratos Group, a brand dedicated to baked food ingredients and products, announced its partnership with Shiru Inc., a sustainable and plant-based food ingredients manufacturer, to develop a natural bakery ingredient and an egg substitute as well. Shiru uses machine learning and bioinformatics to discover the ingredient mix that can be replaced with other proteins and minerals from animals.
• In February 2022, a new plant-based egg alternative startup was launched called The VGN in Germany. The brand offers "The Original”, a liquid egg substitute made from broad bean (or fava bean) protein. It can be cooked as an omelet, scrambled eggs, or used in baking.
• In September 2022, Zero Egg, an egg alternative products manufacturer, announced the launch of a new ready-to-eat frozen egg substitute, called “Scoopable Scramble,” which is a blend of plant proteins.
• In April 2022, Plant B, a plant-based food item provider, launched its new lupin-based liquid egg product in Germany. According to the company, this new alternative has 50% less calories and can be used in a variety of dishes, such as muffins, cakes, and others.
Conclusion
The growing number of vegetarians and vegans around the world is driving the egg replacer market. For instance, in March 2022, Veganuary, a challenge from the UK’s non-profit organization that encourages people to go vegan for the whole month of January every year since 2014, released its reports for its January campaign. According to the reports, more than 629,000 people from 228 countries signed up for the campaign and saved 2.2 million animals from being killed for food. In addition, other reports depict veganism and vegetarianism’s growth around the globe, such as in 2021, when the NSF (National Science Foundation) conducted a survey according to which 88% of food industry practitioners assume there is going to be a huge demand for plant-based food items and 74% said consumers choose a natural and plant-based diet for a healthy lifestyle. Moreover, companies that launch new products with high vitamin and mineral content, somewhat similar to that of eggs, also prompt the market’s growth. However, the market may face some restraints due to factors such as the fact that egg replacers are more costly than eggs and, according to some research, eggs contain thirteen minerals and vitamins that vegan or vegetarian eggs cannot fulfill.