The outbreak of avian influenza and its subsequent prevalence among birds, primarily in the North America region, has led to an intense egg supply crisis. Poultry producers across several countries, primarily in North America, are witnessing huge losses in the wake of a highly pathogenic strain of avian influenza. This epidemic has, in turn, persuaded producers to cull millions of chickens and turkeys. Consequently, food manufacturers are on the lookout for egg substitutes to include in various products, which is foreseen to bode well for egg replacement ingredients market. Moreover, this shortage could lead to increase in prices of eggs, encouraging producers and consumers to opt for egg substitutes at an affordable deal. Due to supply constraints, the prices of eggs in regions like North America could witness a drastic surge. Thus, multiple producers are vying for cutting down recipe costs by using egg substitutes, thereby propelling the growth of egg replacement ingredients market.
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Less Number of Players in the Specific Market to Pose Striking Opportunities in Egg Replacement Ingredients Industry
Though a huge demographic of players in the bakery industry provide traditional bakery offerings, only a few players make use of egg replacement ingredients in their products. Health-savvy population evolving across the globe are highly preferring functional foods with natural ingredients. This is a preeminent trend creating pioneering opportunities for companies in egg replacement ingredients market to offer products in line with this growing fad. This opens up multiple avenues for domestic and local players to penetrate into the egg replacement ingredients market for cashing on surging demand for foods which are gluten-free, armed with a high nutritional profile, and are clean labelled from bakeries and several other food joints. This is envisioned to fortify the demand for egg replacement ingredients by a large margin.
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Mayonnaise to Stand Out as the Leading Application in terms of Revenue in Egg Replacement Ingredients Market
Mayonnaise is poised to stay ahead of the curve in terms of revenue in egg replacement ingredients market as compared to other application segments such as chocolates, biscuits and cookies, cakes/pastries/muffins/breads, and noodles & pasta in the egg replacement ingredients market. On the flip side, the section of cakes/ pastries/muffins/breads in egg replacement ingredients market is foreseen to exhibit faster growth over the forecast period. In the light of sudden and unprecedented decline in egg supply because of avian flu, several manufacturers of mayonnaise dressings have been receiving requests for introducing stabilizers to replace eggs in mayonnaise. Though manufacturers in egg replacement ingredients market find it a bit challenging to restore the functionality of eggs in mayonnaise-type dressings, they are persistently formulating stabilizer systems for replacing the necessary texture and emulsification properties. This, in turn, is poised to spur the demand for egg replacement ingredients and bode well for the overall market growth.
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