Vegan Eggs Market to Witness a CAGR of Around 14%
According to latest research by Fact.MR, vegan egg is likely to witness sturdy growth during 2021-2031, owing to its wide usage in two key end-use industries – food and bakery. With the passage of time, plant-based food options are becoming closer substitutes to their traditional ones, specifically in the domain of egg substitutes. The outbreak of numerous flue in poultry farms have impacted the sales of poultry eggs at large, consequently creating demand for vegan/plant-based eggs by consumers and creating need for producers to find the probable solution for eggs.
What is Driving Demand for Vegan Eggs?
A significant favorable shift has been seen in demand for plant-based alternatives to dairy products, eggs and meat across various food categories and applications. Evolving demand for more organic and natural food compared to that of synthetic food continues to drive the demand for vegan products in daily dietary. This global trend has been evident due to many factors including sustainability, allergenicity, and need for flexitarian diets by fitness enthusiasts.
Sales of poultry eggs has gone through a recurring boom-and-bust, which has remained an enduring challenge for manufacturers. The fluctuation was primarily evident with the emergence of uncertain allergic diseases and poultry flues for which farmers were remained unprepared. However, the demand for plant-based egg is expected to rise, and likely to advantage food manufacturers only if they platter plant-based eggs in their product offerings.
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Rising Awareness Regarding Transmissible Zoonotic Disease to Augment Vegan Egg Sales
Erratic lifestyle of consumers is one of the vital factor which is likely to escalate the vegan egg market growth. Furthermore, increasing awareness regarding transmissible diseases, like salmonella bacteria found in chicken with high frequency of transmission to eggs, causing foodborne illness, is driving the vegan egg market swiftly.
Numerous industries around the globe have been impacted by COVID-19-induced slowdown while some of them remained withstand. Although lockdown and shelter-at-home guidelines have meant restricted activities, sales are likely to improve over the course of the assessment period owing to the surge in vegan population.
The vegan eggs market is also influenced by secondary drivers like enhancing shelf life as compared to eggs, along with rising prices of eggs due to seasonal demand and increased poultry diseases. These factors exhibits the potential to replace eggs with vegan or plant-based eggs in products such as cakes, biscuits, mayonnaise etc.
US and Canada Vegan Eggs Market Outlook
North America has remained a fertile ground for vegan eggs market and is expected to dominate over the other regions due to the presence of large vegan population. Both U.S and Canada have witnessed rapid growth in the vegan eggs sales, owing to increasing food allergies from animal based food products. Primarily, food allergies are spreading from vegan eggs, fish and meat. Improved food safety, allergen reduction, easier handling & storage, & environmental sustainability are the other key factors driving the overall market in North America region.
Demand for vegan eggs in US and Canada will see a significant shift since majority of the non-vegetarian population is suffering from various food allergies. A reduction in animal derived products (including meat, eggs, etc.) spending is expected by 2022 and beyond, compelling consumers to shift to more sustainable food practices. This will continue to benefit vegan eggs manufacturing companies.
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Europe Demand Outlook for Vegan Eggs
As is the case in US and Canada, health and fitness spending in EU continues to drive demand for vegan eggs. Despite the COVID-19 challenges, most European countries have maintained a steady healthcare and fitness expenditure in 2020.
The vegan eggs market is trending heavily in Europe, extending from usage in healthy snacks and beverages to plant-based indulgences such as burgers made from vegies and meat alternatives.
Stringent government norms on animal cruelty are making consumer aware about the adverse impact of food obtained from animal on the environment. Germany, Italy, and France being the most visited countries in Europe, creating opportunities for vegan eggs manufacturers to supply on-the-go vegan eggs produce in form packaged foods.
Who are the Key Manufacturers and Suppliers of Vegan Eggs?
Some of the leading manufacturers and suppliers of vegan eggs include
- EVO Foods
- Mantiqueira (N.Ovo)
- JUST Inc.
- Orgran Foods
- Terra Vegane
- Free and Easy
- Follow Your Heart
- The Vegg
- Vezlay Foods Private Limited
- Now Foods
- Bob's Red Mill
- The Neat Egg
- Conagra Brands, Inc.
At present, the market for vegan eggs is highly unorganized. However, the demand for vegan eggs is likely to swell in near future with an upsurge in vegan population and rising awareness on animal transmitted viruses, in turn, making it one of the most organized market as a source of vegan protein.
An Adaptive Approach to Modern-day Research Needs
Vegan Eggs Market Report Highlights:
- Detailed overview of 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
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Others (solid, etc.)
By Packaging Type
- Premium bottle pouches
- Tetra packaging
- Others (cartoon, box, etc.)
By Distribution Channel
- Foodservice Channel
- Full-service Restaurants
- Quick-service Restaurants
- Cafes and Bars
- Bakery and Confectionary
- Other Foodservice Channels
- Retail Channel
- Specialty Stores
- Online Stores
- Other Retail Channels
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- Southern Africa
- Other Africa
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 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.
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