Egg substitutes are expected to increase their sales
A recent analysis from Transparency Market Research highlights the potential of growth for the market of egg substitutes. Players could largely target vegans to improve their sales in the global egg substitutes market. Vegans usually prefer egg substitutes to avoid the consumption of eggs but receive the same health benefits. Since there is no egg yolk, egg substitutes are low in cholesterol and fat but rich in protein.
Among ingredients, milk protein formula is projected to impress with its share of the global egg substitutes market. Due to an increase in egg prices, substitutes are expected to gain a bigger market share. "Since egg substitutes could be an affordable option, the demand in the global market is expected to see a rise in the coming years. On the other hand, the rise in awareness about preventive healthcare could set the tone for significant growth of the global egg substitutes market", shows the analysis.
Nevertheless, factors such as the taste of the products and cost-effectiveness could hamper the growth of the global egg substitutes market.
"North America is prophesied to account for a colossal share of the egg substitutes market. High disposable income could be a powerful factor supporting the demand in the North America egg substitutes market. High awareness of the ill effects of high cholesterol on the human body is envisaged to trigger more demand in the North America egg substitutes market. The Asia-Pacific could be another rewarding region for the egg substitutes market owing to the high influence of Western culture and eating habits. High incidence of cholesterol-related diseases is also predicted to create opportunities in the Asia Pacific egg substitutes market", mentions the report.
(Photo source: kidswithfoodallergies.org)
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