Plant-based eggs have emerged as a versatile and sustainable alternative with diverse culinary applications. Beyond their use in baking and cooking, they cater to individuals with dietary restrictions, offering allergen-free options suitable for those with egg allergies or seeking vegan alternatives. The environmental advantages of plant-based eggs include reduced resource use and a lower ecological footprint compared to traditional egg production. Health-conscious consumers can appreciate the lower cholesterol and saturated fat content, while innovations in formulation continually enhance taste and texture. Choosing plant-based eggs aligns with ethical considerations, supporting animal welfare by avoiding conventional egg farming practices. As the global demand for protein-rich foods increases, plant-based eggs contribute to resource efficiency and food security, making them a promising option in the evolving landscape of sustainable and inclusive food choices.
According to Data Bridge Market Research analyses, the Global Plant-Based Egg Market is expected to reach USD 9.02 billion by 2030, which was USD 1.99 billion in 2022, registering a CAGR of 20.78% from 2023 to 2030.
"Rise in Plant-Based Egg Awareness Boosts the Market Growth"
The plant-based egg market is experiencing significant growth driven by various factors. Health-conscious consumers are turning to plant-based eggs for their perceived nutritional benefits, such as being cholesterol-free and lower in saturated fats. Increasing awareness of environmental sustainability and ethical concerns related to animal agriculture is propelling a shift towards plant-based alternatives. The rise of vegetarian and flexitarian lifestyles further expands the market, while ongoing innovations in food technology enhance the taste and texture of plant-based eggs, making them more appealing to a broader audience. Additionally, a global cultural shift towards sustainable and plant-centric diets and a diverse range of product offerings contribute to the widespread acceptance and expansion of the plant-based egg market.
What restraints the growth of global plant-based egg market?
“High Costs Hinders the Market Growth”
The plant-based egg market faces significant restraints due to the high cost and limited availability of plant-based eggs. These products are generally more expensive than traditional eggs, hindering affordability for some consumers. Additionally, plant-based eggs may not be widely accessible in many areas, with limited distribution channels and availability issues. The combination of high cost and limited accessibility acts as a barrier to the widespread adoption of plant-based eggs, potentially impeding market growth. Overcoming these challenges requires addressing production costs, optimizing distribution networks, and increasing awareness and accessibility to make plant-based eggs more viable and appealing to a broader consumer base.
Segmentation: Global Plant-Based Egg Market
The global plant based egg market is segmented based on type, forms, base ingredient, function, application, category, nature, packaging type, distribution channel, and end use.
- On the basis of type, the global plant based egg market is segmented into full egg, white egg, and egg yolk
- On the basis of forms, the global plant based egg market is segmented powder, liquid, and others
- On the basis of base ingredient, the global plant based egg market is segmented into algal flour, wheat flour, soy flour, chia seeds, garbanzo beans, starch, mung beans, pea, and others
- On the basis of function, the global plant based egg market is segmented into partial egg replacement, full egg replacement, egg wash substitute, and others
- On the basis of application, the global plant based egg market is segmented into breakfast, bakery, desserts, convenience foods, and others
- On the basis of category, the global plant based egg market is segmented into conventional, and organic
- On the basis of nature, the global plant based egg market is segmented into GMO, and non-GMO
- On the basis of packaging type, the global plant based egg market is segmented into bottles, pouches, tetra packs, and others
- On the basis of distribution channel, the global plant based egg market is segmented into store based retailer and non-store based retailer (online)
- On the basis of end user, the global plant based egg market is segmented into food processing industry, food service providers, and retail/household
Regional Insights: North America dominates Global Plant-Based Egg Market
- North America dominates plant-based food market due to various factors, including heightened awareness of protein-rich diets, rising health consciousness, a robust food industry, widespread adoption of technological innovations, and significant investments in the sector. These elements collectively drive the region's success in offering diverse and widely accepted plant-based alternatives, positioning North America as a global leader in the plant-based food movement
- Asia-Pacific is expected to grow at a significant growth rate due to factors such as technology adoption for innovation, strategic partnerships, increased government R&D investments, a competitive market landscape with numerous key players, and a rising trend in vegan dining options. These dynamics collectively contribute to a burgeoning market in the region, showcasing a rapid evolution in consumer choices and market trends
To know more about the study visit, https://www.databridgemarketresearch.com/ar/reports/global-plant-based-eggs-market
Recent Developments in Global Plant-Based Egg Market
- In 2021, Nestlé unveiled a delectable array of plant-based alternatives, introducing substitutes for eggs and shrimp alongside an expanded line of plant-based foods. Under the Garden Gourmet veggie brand in Europe, this expansion satisfied taste buds and provided a wholesome, ethically produced, and sustainable option. The vegan offerings, infused with omega-3 fatty acids and soy protein, garnered attention and even earned a Nutri-Score, marking a significant stride in Nestlé's commitment to plant-based innovation
- In 2022, Evo Foods and Ginkgo Bio Works joined forces to revolutionize the egg industry with animal-free egg products. This dynamic collaboration aims to meet the escalating demand for vegan options, aligning with evolving consumer preferences. By harnessing cutting-edge technology and a commitment to cruelty-free alternatives, Evo Foods and Ginkgo Bio Works are set to introduce vegan protein options that cater to consumer tastes and contribute to a more sustainable and compassionate future in the world of plant-based foods
The Prominent Key Players Operating in the Global Plant-Based Egg Market Include:
- plantmade.in (India)
- Vezlay Foods Pvt. Ltd (India)
- Plamil Foods Ltd. (U.K.)
- Peggs (U.S.)
- Osome Pte. Ltd. (Singapore)
- Eat Just, Inc. (U.S.)
- Simply Eggless Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global plant-based egg market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Global Plant-Based Egg Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
