Egg Substitute Market to Signify Strong Growth by 2024-2031

 The global egg substitute market is anticipated to grow at a significant CAGR of 13.3% during the forecast period (2024-2031). The increasing health consciousness among consumers, coupled with rising concerns about cholesterol levels and allergies, has led to a growing demand for plant-based and allergy-free alternatives to eggs. The expanding vegan and vegetarian population worldwide is further driving the demand for egg substitutes as they seek animal-free protein sources. Additionally, changing dietary preferences, environmental sustainability concerns, and the influence of social media and food trends are further fueling the growth of the egg substitutes market globally. 

In September 2023, Formo, a German precision fermentation startup, is set to introduce a lab-brewed egg alternative to the foodservice sector in Europe later this year. Formo's protein, derived from Aspergillus oryzae, offers functional properties akin to egg proteins without being classified as a novel food under EU regulations. Despite initial price premiums, Formo anticipates decreasing costs and has garnered positive consumer interest, especially in Germany, according to a peer-reviewed study commissioned by the company.

Moreover, in june 2023, Plantible Foods, a startup, has established a 140-acre lemna farm in Texas and unveiled Rubi Whisk, its inaugural product—a plant-based egg alternative. Founded in 2016 by Dutch entrepreneurs Tony Martens Fekini and Maurits van de Ven, the company has secured over $30 million in funding from investors including CJ CheilJedang and Kellogg’s venture arm eighteen94 capital. Rubi Whisk, derived from lemna-extracted RuBisCO protein, offers functional properties comparable to animal proteins and has attracted interest across diverse food sectors.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Form
• By Application
• By Distribution Channel

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- includes Archer Daniels Midland Company, Arla Foods Ingredients Group P/S, Cargill Inc., Danone Nutricia, International Flavors & Fragrances Inc. (DuPont de Nemours, Inc.) among others. 

 Egg Substitute Market Report Segment

By Form

• Dry
• Liquid

By Application

• Bakery and Confectionery
• Savouries
• Sauces
• Dressings and Spreads

By Distribution Channel

• Online Stores
• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores

A full Report of Egg Substitute Market is Available @ https://www.omrglobal.com/industry-reports/egg-substitute-market

Egg Substitute Market Report Segment by Region

North America 

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles

• All American Foods 
• Bob's Red Mill
• Corbion Puratos
• Eat Just, Inc. 
• Ener-G Foods 
• FIberstar Inc.
• Flordia Food Products LLC
• Glambia Plc.
• Ingredion Incorporated
• Kerry Group plc.
• Mevalia (Vitaflo International Ltd )
• MGP
• Ward McKenzie Pty Ltd

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