Global Artificial Egg Market: Rising Population of Vegetarians and Vegans Driving Growth, reports TMR

Press Release   •   Nov 18, 2016 13:18 IST

The global market for artificial egg is still in a nascent stage and is likely to be driven by significant investments in R&D as well as the rising population of vegetarians and vegans across the globe, according to a new report by Transparency Market Research (TMR). The report studies the historical development trajectory of the global artificial egg market and offers reliable growth projections for the market between 2016 and 2024. The report, titled “Artificial Egg Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024,” uses industry-standard analytic tools to offer actionable insights into the dynamics of the market. The in-depth analysis of the global artificial egg market presented in this report will help managers, business strategists, and decision makers plan effective business strategies.

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The report observes that development of artificial eggs has been a boon for the expanding population of vegans and vegetarians as they are made entirely from plant sources. Artificial eggs are produced with a primary goal of replacing eggs in every possible recipe where eggs play a central role. The results have been exemplary as they taste exactly like natural eggs and are almost indistinguishable in appearance. Touted to be eggs made purposefully for vegetarians, the potential applications of artificial eggs are unlimited. The prominent players in the food industry are focusing on increasing on R&D of the best possible plant mixes to substitute natural eggs. Several products made with artificial egg are already available in the market and many are awaiting approval from food agencies across countries.

The report projects artificial eggs to contribute to a significant share in the global food and beverage industry in the next few years due to a high demand for eggless/vegetarian varieties of bakery products, sweets, and savories. Since this is an emerging segment of the food and beverage industry, R&D is required to develop an egg substitute that can be used in major applications, presenting an opportunity for proactive players to gain advantage. Geographically, the report analyzes the global egg market and its crucial segments for regional markets, including Asia Pacific, North America, Europe, and the Rest of the World.

The report observes that the artificial egg market holds immense potential in developing regions where vegetarian population dominates as these eggs can provide the essential nutrients missing from local diets. Moreover, the vast landscapes in these regions are ideal for growing new cash crops suitable for the production of artificial eggs. The report notes the increasing trends of vegetarianism across the globe and estimates that the improvement in flavor and texture of artificial eggs will enable market players to expand their customer base.

Conversely, this research study also points out a few factors that may curtail the growth rate of the global market for artificial eggs. For example, low variability in available product options, non-availability in several regional markets, and a lack of awareness about these products.

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