Egg Replacers Market Size - By Functionality (Binding, Emulsification, Leavening, Moisture Retention, Texture Enhancement), By Application (Bakery and Confectionery, Dairy Products, Sauces and Dressings, Beverages), Source & Global Forecast, 2023 - 2032

Egg Replacers Market Size - By Functionality (Binding, Emulsification, Leavening, Moisture Retention, Texture Enhancement), By Application (Bakery and Confectionery, Dairy Products, Sauces and Dressings, Beverages), Source & Global Forecast, 2023 - 2032

Egg replacers market size is expected to record 6.5% CAGR from 2023 to 2032 due to evolving consumer preferences and heightened health consciousness. The burgeoning trend of veganism and vegetarianism, coupled with the escalating prevalence of egg allergies and cholesterol-related health concerns, has fueled the demand for egg substitutes across various food & beverage applications. According to a recent study, the global vegan market will reach over USD 22 billion by 2025.

The growing emphasis on sustainable and cruelty-free food production practices has significantly contributed to the market growth, fostering the development of innovative and environmentally friendly egg replacement solutions. In May 2023, Float Foods, a Singapore-based company, launched OnlyEg poached eggs and OnlyEg Egg Yolk, as the first commercially available plant-based egg alternative in Asia.

The overall egg replacers market is divided based on functionality, application, source, and region.

The animal-based segment is expected to witness substantial growth through 2032 as key players are investing in R&D activities to create sustainable and ethical alternatives, promoting the use of ethically sourced eggs in the production of egg replacers. This approach aims to cater to the consumers' preference for products that mimic the taste and texture of conventional eggs while aligning with their ethical considerations.

The dairy products segment is predicted to generate significant revenues from 2023 to 2032 owing to the rising adoption of egg substitutes in various dairy-based products. As consumers increasingly seek healthier alternatives, manufacturers are integrating egg replacers into a wide range of dairy products, including ice creams, yogurts, and cheese, to enhance nutritional value and cater to the growing demand for plant-based dairy alternatives. This trend is expected to continue fostering the usage of egg replacers in the dairy products application throughout the forecast period.

Asia Pacific egg replacers market size is anticipated to record significant growth through 2032 due to the growing awareness regarding the health benefits associated with plant-based diets, coupled with the rising disposable incomes of consumers. Moreover, the increasing prevalence of lifestyle-related health issues has prompted a shift toward healthier and sustainable dietary choices, further stimulating the adoption of egg replacers in the Asia Pacific region.