A reduced egg product produced by supercritical fluid extraction comprising egg yolk from a whole egg that has a portion of undesired components, such as cholesterol and triglycerides (including saturated fats), selectively removed from the natural egg yolk while the beneficial components, such as phosphotipids, are selectively retained and while the consumer-desired flavor, texture, and/or functionality of the egg yolk is retained. A method for producing the reduced egg product comprises at least one of separating, drying, and extracting and optionally reconstituting. The continuous drying method produces dried egg yolk with a honeycomb type structure or small particle with low densities allowing for effective extraction and reconstitution. Furthermore, the reconstituting method is efficient and the pasteurizing method is capable of pasteurizing triglyceride and fat reduced egg yolk and triglyceride and fat reduced whole egg.