(Entertainment-NewsWire.com, December 08, 2017 ) Latin America Egg Replacers Market is worth USD 57 million in 2016 and estimated to grow at a CAGR of 5.5%, to reach USD 74.5 million by 2021. The Latin America Egg Replacers market is developing at an exceptionally quick pace.
Egg replacers help in the replacing or reducing egg content in foods without changing the taste and look of the final item. These ingredients have extensive use in variety products like cakes, muffins, mayonnaise, chocolates, custard, ice-cream, and cookies etc. Most of these products are without any animal products, and hence are vegan and contain no cholesterol. There are also homemade substitutes like tofu, a variety of fruits, potato starch, mashed potato, baking powder, ground seeds, agar powder, chickpea flour etc.
The significant driver is rising consumer awareness towards preventative healthcare and an inclination towards products with low cholesterol levels. Also change in lifestyles and rise in awareness of consumers regarding healthy eating habits, increase in adoption of a vegan diet, and avian flu outbreak developed and developing nations is boosting the industry. Also growing food and beverage industries are further expected to boost this industry.
The Latin America Egg Replacers market is segmented on the basis of Application, Ingredients, source, form and region. Based on application the market is segmented into Bakery & confectionery, Savories, Sauces, dressings & spreads and others. The bakery & confectionery segment is estimated to dominate the egg replacers market in 2017. Based on Ingredients the market is segmented into Dairy proteins, Starch, Algal flour, Soy-based products, and others. Dairy protein is estimated to be the largest segment in egg replacers market in 2017. Based on Source the market is segmented into Plant and Animal. Based on Form the market is segmented into Dry and Liquid. Dry egg replacers accounted for the largest market share in 2016.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The rising focus of key players on enhancing their market presence across the globe is estimated to encourage the growth of the market in the Latin America regions.
Archer Daniels Midland Company (U.S.), Glanbia Plc (Ireland), Kerry Group (Ireland), Cargill (U.S.), Ingredion Incorporated (U.S.), and Corbion (Netherlands) Company are the leaders in the Latin America Egg Replacers market.
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