Plant-based Eggs Market Forecast and CAGR
According to the latest study by future market insight the market for plant-based eggs is expected to rise steadily between 2021 and 2031. While the market is likely to recover from the crisis in the mid-term of the projection period, demand is predicted to expand faster than in the past in the long run.
The plant-based eggs are extracted proteins from legumes and other plant sources to produce a clean protein that looks like a beaten egg and is billed as a viable replacement to standard chicken-derived eggs. The plant-based egg's protein is isolated and processed in an egg-like texture.
Chickpeas, peas, and mung beans are used to make the egg. They can be used in dishes such as omelettes, scrambled eggs, frittatas, egg rolls, and more accordingly.
Plant-based eggs are designed to mimic the aesthetic qualities (taste, texture, and appearance) as well as the chemical characteristics of regular chicken eggs. In general, a plant-based eggs is made entirely of plant-based ingredient.
Rising Health Conscious and Changing Consumer’s Lifestyles Driving the Plant-Based Eggs Market
Consumers' changing lifestyles, as well as increased awareness about the health benefits of plant-based eggs products and salmonella bacteria found in chicken that may be transmitted to eggs and cause foodborne disease, are among the primary reasons propelling the plant-based eggs market forward.
Furthermore, in the forecast period of 2021-2031, the availability of a large number of manufacturers and advancements in food products connected to plant-based eggs will continue to generate new opportunities for the plant-based eggs market.
Additionally, Changing consumer behaviour, 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.
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Veganism and Fitness-Freakiness Trends Building an Opportunity for the Plant-Based Eggs
Demand for plant-based eggs has recently been driven by an increase in the fitness and vegan populations. Furthermore, the increase of the product line and distribution channel will help the market for plant-based eggs 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 providing the humongous opportunity to manufacturers, However, for vegans, finding an egg equivalent with the same protein level is tough. As a result, manufacturers of plant-based 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.
The US and Canada Demand Outlook for Plant-based Eggs Market
The demand for plant-based eggs has been steadily increasing in North America, as veganism has grown rapidly in the United States and Canada in recent years. Consumers began to switch to vegan food items for a variety of health reasons as well as to lessen the environmental difficulties that have arisen as a result of animal-based products.
Because of the significant demand for plant-based products, the plant-based egg 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.
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Europe Plant-based Eggs Market Outlook
Europe is anticipated to gain high traction in the plant-based eggs market as the European countries, like their North American counterparts, are interested in sustainable food items with similar health benefits. Due to the increased popularity of vegan 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 plant-based egg innovation. It is one of the major causes driving the demand for plant-based eggs among the vegan community in Europe.
Plant-based Eggs Market: Key Players
Some key manufacturers operating the business in the plant-based eggs market globally include
- JUST Inc.
- Conagra Brands Inc.
- Follow Your Heart Vegg
- Bob’s Red Mill Natural Foods
- Evo food
- float food
- Just eat inc, and plant made .
Manufacture are coming up with advanced techniques of plant biochemistry and sophisticated plant biochemistry to create sustainable yet delicious plant-based eggs without antibiotics, cholesterol or any animal cruelty.
For instance-In 2021- OsomeFood a Singapore based manufacturer introduced the world's first nutrition-focused and plant-based hard-boiled egg, to give consumers superfoods without causing animal suffering or compromising health immune advantages.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
Plant-based Eggs Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Plant-based Eggs: Market Segmentation
Based on form, the global plant-based eggs market can be segmented as:
Based on packaging, the global plant-based eggs market can be segmented as:
- Premium Bottle Pouches
- Tetra Packaging
Based on storage outlook, the plant-based eggs market is segmented into
- Convenience Store
- Specialty Store
- Modern Groceries
- Online Retail
Based on the region, the global plant-based eggs market can be segmented as:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, ASEAN, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
- North America
NOTE - Although care has been taken to maintain the highest levels of accuracy in Fact.MR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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