The demand for protein is steadily increasing across the globe. According to the Food & Agricultural Organization (FAO), this demand is driven by the increase in income levels in developing countries. The FAO states that meat consumption would grow by 1.4% annually till 2024 while annual growth in poultry consumption would be around 2.0% during the same time frame. On the other hand, the growing demand for plant based protein is evident by the facts that oilseed production is expected to grow by more than 20% over the same period, resulting in the increase in protein meal output by 23%, reaching 355 Mt by 2024.
Apart from protein, the functional foods such as food ingredients derived from the plant sources have shown significant growth in last decade and the demand is expected to further continue in near future mainly due to the growing awareness about their ability to promote general health and well-being by preventing certain diseases. Growing health consciousness among the general population has resulted in the increasing adoption of plant based ingredients as it includes reduced saturated fat and fiber which increases satiety and prevent the person from overeating. These food ingredients also offer cholesterol benefits with lower energy density.
The preferences for the natural ingredients are further assisted by government initiatives to promote the plant based foods. For instance, the U.K. has recently updated the dietary recommendations wherein, it has increased the plat proportion in diet to 40% from earlier 33%. The global “flexitarian” population is also on the rise, guided by the awareness of the environmental and health impacts of animal food sources. Flexitarian also called as semi vegetarian are the people who actively reduce their consumption of animal sourced foods. According to the Forum for the Future, between 24% and 36% of people in the U.K., France, and Germany now consider themselves to be “flexitarian” which certainly adds to the demand for plant based food ingredients like egg replacers.
Recently, Meticulous Research has published a comprehensive report on the “Egg Replacement Ingredients Market: Global Opportunity Analysis and Industry Forecasts to 2022”. According to Meticulous Research estimates, the global egg replacement ingredients market is projected to reach USD 1,152.0 million by 2022.
The egg replacement ingredients market study, published by Meticulous Research, can be accessed at: http://www.meticulousresearch.com/product/egg-replacement-ingredients-market-2022/