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The market for vegan egg substitute is being driven by the rising occurrence of health-related issues like obesity and heart-related diseases. This has led the consumers to opt for low cholesterol food ingredients, as a result, enhancing the demand for vegan egg substitutes. Further, the rising demand from the expanding vegan population and the rising applications is expected to positively influence the market over the forecast period. The rising trend of low-calorie products is expected to invigorate the demand for vegan egg substitute products. Moreover, the rising demand for clean-label and vegan products from consumers, particularly from developed countries, is expected to provide further impetus to the market growth. In addition, the manufacturers are investing in R&D so that they could launch new vegan egg substitutes to be used for various applications, thereby aiding the market growth.
Ingredion Incorporated (NYSE: INGR), a leading global player in the vegan egg substitute industry, announced in April 2019 that it would partner with Clara Foods to distribute and market several proteins obtained from yeast that are conventionally found in eggs. The introduction of these products by the company will enhance their portfolio to offer highly functional proteins that will help produce food and beverages with advanced levels of protein and distinct characteristics without the inclusion of animal-derived inputs. This is expected to aid the market growth of vegan egg substitute over the forecast period.
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Glanbia plc, Ingredion Incorporated, Cargill, Incorporated, Bob's Red Mill Natural Foods, Inc., and House Foods America Corporation, among others, are the key players in the global vegan egg substitute market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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