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Plant Based Eggs Market

Plant Based Eggs Market Share, Size & Analysis, By Form (Powder, Liquid, Others), By Packaging (Premium Bottle Pouches, Tetra Packaging), By Storage Outlook (B2B, B2C,Convenience Store, Hotels/Restaurants, Modern Groceries, Others ), By Region - Global Market Insights 2022 to 2032

Analysis of Plant Based Eggs market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Plant-Based Eggs Market Outlook (2022-2032)

The global plant-based eggs market is valued at USD 2.11 Billion in 2022. The market is further anticipated to grow and cross a value of USD 24.91 Billion by 2032. The plant-based eggs arcade is likely to gain growth by a CAGR of 28% in the forecast period. This research aims to generate actionable insights aiming at the forecast period from 2022 to 2032.

The aggregate rise in food safety concerns across the populace is expected to increase demand for plant-based eggs in the forecast period. Consumers are shifting to vegan diets that are likely to turn up demand for plant-based meat and eggs in the upcoming period. Vegan eggs are uses 98% of less water and emit less carbon dioxide than conventional animal food sources. This egg product is considered a sustainable consumable for those who wish to make a good alternative to their diet preferences.

The market for vegan eggs is likely to grow at a faster pace in the forecast period. These eggs are extracted proteins from legumes and other plant sources to give a cleaner protein source to consumers. These eggs are being treated as a classic replacement for chicken-derived eggs.

Chickpeas, peas, and mung beans are used to make the egg. They can be used in dishes such as omelets, scrambled eggs, frittatas, egg rolls, and more accordingly. vegan eggs are designed to mimic the aesthetic qualities (taste, texture, and appearance) as well as the chemical characteristics of regular chicken eggs. In general, plant-based eggs is made entirely of plant-based protein ingredient.

Report Attributes

Details

Market size (2022 A)

USD 2.11 Billion

Base Year for Estimation

2022

Forecast duration for this research

2022-2032

Forecasted Market value (2032 F)

USD 24.91 Billion

Global Market Growth rate (2022-2032 E)

CAGR of 28%

Key Companies Profiled

  • JUST Inc.
  • Conagra Brands Inc.
  • Enter-G
  • Follow Your Heart Vegg
  • Bob’s Red Mill Natural Foods
  • Evo food
  • float food
  • OsomeFood

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What propels the demand for plant-based meat and eggs?

“Health-conscious behavior of consumers driving demand for vegan eggs”

Consumers' changing lifestyles, as well as increased awareness about the health benefits of these egg products and salmonella bacteria found in chicken that may be transmitted to eggs and cause foodborne disease, are among the primary reasons propelling the vegan eggs market forward.

Furthermore, in the forecast period of 2022-2032, the availability of a large number of manufacturers and advancements in food products connected to such eggs will continue to generate new opportunities for the vegan eggs market.

Additionally, changing consumer behavior, as well as the difficulty of handling and storing plant-based eggs, are important limitations that will continue to pose a challenge to the market in the projection period.

“Veganism is here to stay and opening lucrative opportunities for vegan alternatives”

Demand for plant-based food alternatives has recently been driven by an increase in fitness and vegan populations. Furthermore, the increase in the product line and distribution channel will help the market to flourish.

Additionally, Egg consumption is necessary to sustain protein levels as eggs are one of the highest protein content sources in the human body and as the number of fitness enthusiasts grows the market provides a humongous opportunity to manufacturers, However, for vegans, finding an egg equivalent with the same protein level is tough. As a result, manufacturers of vegan meat and eggs have a lucrative opportunity.

Furthermore, the protein content of plant-based eggs is quickly approaching that of original eggs. While rising consumer interest in animal-based products has boosted demand in the short term, animal welfare is projected to become more important in the future.

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Regional Outlook

“The trend of veganism steadily increasing in the North America region”

The North American region is expected to lead by the US and Canada owing to steady growth in the vegan population. The alarming shift in diet patterns to vegan options in these regions is backed by health reasons which are anticipated to increase the demand for plant-based food in the future.

There is also a justifying concern of lessening environmental concerns from the inclusion of animal-based food products into the diet. The rising awareness among people has led to shifting food preferences and is expected to create a major market share in the forecast period.

Because of the significant demand for plant-based products, the plant-based product market in the United States has a well-established supply chain of vegan products. Also, plant-based eggs are used extensively in hotels, restaurants, and catering, as well as transport goods like in-flight meals and trains.

Furthermore, Plant-based eggs successfully substitute eggs for the majority of end-users who struggle to complete their protein requirement during the day. With an increase in the vegan population in the United States and Canada, demand is expected to skyrocket in the next years.

“Europe to gain higher traction in forecast period”

Europe is anticipated to gain high traction in the vegan eggs market as European countries, like their North American counterparts, are interested in sustainable food items with similar health benefits. Due to the increased popularity of plant-based food products, some European countries, such as the United Kingdom, Germany, Italy, and Spain, are seeing large decreases in non-vegetarian food sales.

Additionally, European countries have also made major investments in food innovation. It is one of the major causes driving the demand for vegan options among the vegan community in Europe.

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Segment wise Insights

“Liquid segment is dominated in vegan eggs”

Based on the forms the liquid segment amounting to the large revenue share in the plant-based eggs industry is over 50%. There is an alarming rise in preferences for liquid vegan eggs. When compared to the powder and other forms the liquid eggs segment comes out to be dominant due to ease of use and higher consumer inclination. However, there is no scope for the separation of albumen and yolk which could be a possible deterrence in product demand.

The powder segment is also anticipated to bring higher growth in the forecast duration with the fastest CAGR. The segment is anticipated to gain attention from vegan food manufacturers owing to the need for novel product launches and an increasingly accessible consumer base. Many companies in vegan egg production are launching whole egg powder with innovations in terms of blends such as soya, potato, and chickpeas.

“Tetra Packaging to retain freshness and quality of food”

Based on the packaging the premium bottle pouches are dominating the segment in the market. The ease and handling are reasons why bottle pouches are in demand. The tetra packages are also anticipated to gain the fastest growth in the forecast period owing to their aseptic environment where food is prevented from bacterial insertion. The tetra packs have proven to maintain the freshness and nutrition of food for longer which is likely to impel greater market size in the forecast duration.

Based on the storage outlook the B2C segment dominates this market. The online segment is dominant in the eggs market. The share of the revenue for this segment is amounting to 85% of total vegan eggs revenue. The market is gaining traction due to ease of ordering, the flexibility of location and time, and efficient home delivery given by e-commerce.

Hypermarkets and supermalls are the second dominating distribution channels for vegan products. As the millennials create a major target audience for vegan eggs this populace is usually a user of mobile for ordering groceries which is a key reason for online channels’ mainstay.

Competitive landscape

The vegan eggs market is featured with the presence of key players and niche products. The market is at a nascent stage owing to the small and initial phase of production. The companies are entering into vegan meat production heavily relying on research and development in the initial phases. These firms were likely to invest in extensive promotions and broadening customer bases to maintain market share in the longer term.

Plant-based Eggs: Market Segmentation

  • By Form :

    • Powder
    • Liquid
    • Others
  • By Packaging :

    • Premium Bottle Pouches
    • Tetra Packaging
  • By Storage Outlook :

    • B2B
    • B2C
    • Convenience Store
    • Specialty Store
    • Hotels/Restaurants
    • Modern Groceries
    • Online Retail
    • Others
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • Asia Pacific

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The key market brands in vegan eggs- • JUST Inc. • Conagra Brands Inc. • Enter-G • Follow Your Heart Vegg • Bob’s Red Mill Natural Foods • Evo food • float food

The plant-based eggs arcade is likely to gain growth by a CAGR of 28% in the forecast period.

The global vegan eggs market is valued at USD 2.11 Billion in 2022. The market is further anticipated to grow and cross a value of USD 24.91 Billion by 2032.

The liquid form of vegan egg is dominant due to ease of usage.

The online segment is dominating due to the maximum number of consumers belonging to the technologically savvy millennial population.

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