The popularity of veganism is increasing as the general public's environmental awareness associated with animals increases. Customers are inclining to a more plant-based diet because of climate awareness. Furthermore, there have been several advances in technology for plant-based substitutes, such as plant-based egg. The increasing flexitarian movement has increased the demand for meat and egg replacements.
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Data Bridge Market Research analyses that 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% during the forecast period of 2023 to 2030. The increasing demand for the plant-based egg will provide potential opportunities for the market growth in the forecast period.
The increasing population of vegan food is anticipated to drive the market's growth rate
Veganism is increasing in popularity globally as people are becoming more conscious about the environment and animals. On farms, livestock such as hens, pigs, cows, and goats contribute to the greenhouse effect through their rearing and social standing. The higher demand for animal meat demands the high practice of animal farming. Therefore, increasing the number of vegan food consumers reduces the demand for excessive animal farming, decreasing greenhouse gas emissions in the environment.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Plant-Based Egg Type (Full Egg, White Egg, and Egg Yolk), Form(Powder, Liquid, and Others), Base Ingredient (Algal Flour, Wheat Flour, Soy Flour, Chia Seeds, Garbanzo Beans, Starch, Mung Beans, Pea, and Others), Function (Partial Egg Replacement, Full Egg Replacement, Egg Wash Substitute, and Others), Application (Breakfast, Bakery, Desserts, Convenience Foods, Others), Category (Conventional, Organic), Nature (GMO, and Non-GMO), Packaging Type (Bottles, Pouches, Tetra Packs, and Others), Distribution Channel (Store Based Retailer and Non-Store Based Retailer (Online), End Use (Food Processing Industry, Food Service Providers, Retail/Household)
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Countries Covered
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U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
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Market Players Covered
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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.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global plant-based egg market is segmented into seven notable segments, which are plant-based egg type, form, base ingredient, function, application, packaging type, and distribution channel.
- On the basis of plant-based egg type, the global plant-based egg market is segmented into a full egg, white egg, and egg yolk.
The full egg segment of plant-based egg type segment is anticipated to dominate the plant-based egg market
The full egg segment is expected to dominate the plant-based egg market due to numerous product launches of full eggs in the market.
- On the basis of form, the global plant-based egg market is segmented into powder, liquid, and others.
The liquid segment of form segment is anticipated to dominate the plant-based egg market
The liquid segment is expected to dominate the plant-based egg market because of the availability of various plant-based egg products in liquid form that are driving the growth of the market.
- On the basis of the 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. The mung beans segment is expected to dominate the plant-based egg market due to the increasing demand for mung beans to give the plant-based egg a great texture and to imitate the texture of conventional eggs among manufacturers.
- 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. The full egg replacement segment is expected to dominate the plant-based egg market due to the increasing demand for plant-based food and the rising trend of veganism.
- On the basis of application, the global plant-based egg market is segmented into breakfast application, homemade bakery applications, and others. The breakfast application segment is expected to dominate the plant-based egg market due to the growing demand for a plant-based egg to prepare breakfast dishes such as omelet, egg scramble, and others among health-conscious consumers.
- On the basis of packaging type, the global plant-based egg market is segmented into bottles, pouches, tetra packs, and others. The bottles segment is expected to dominate the plant-based egg market due to the easy availability and high usage of bottle packaging.
- On the basis of distribution channel, the global plant-based egg market is segmented into store based retailer and non-store based retailer (online). The store based retailer segment is expected to dominate the plant-based egg market because of the convenience and easy accessibility of a plant-based product in the nearby stores.
Major Players
Data Bridge Market Research recognizes the following companies as the major plant-based egg market players in plant-based egg market are 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.)
Market Development
Market Development
- In August 2020, Alternative Foods launched the plant-based egg substitute liquid egg alternative in U.K. supermarkets. It is the first-ever patented product to replace liquid eggs in baking
- In February 2021, Follow Your Heart announced that they have entered a 50-year milestone with the launch of a total brand refresh which will support them in meeting the demand for plant-based foods. This helped the company to gain a customer base
- In September 2019, Dharmic Foods Pvt. Ltd. created a vegan egg from plants made from lentils. It provides the same protein level as that of a real egg. This product is created by Indian Institute of Technology students of Delhi, and it has been displayed during their industry day
- In October 2020, EVO Foods launched its plant-based liquid egg called Evo Egg Alternative that is made from legumes
Regional Analysis
Geographically, the countries covered in the plant-based egg market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
As per Data Bridge Market Research analysis:
Asia-Pacific is the dominant region in plant-based egg market during the forecast period
Asia-Pacific dominated the plant-based egg market due to emerging opportunities in vegetarian food and higher production. Asia-Pacific will continue to dominate the plant-based egg market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing adoption of the veganism trend in this region.
North America is estimated to be the fastest growing region in plant-based egg market
North America is expected to grow during the forecast period due to the increasing demand for plant-based and vegan food products. In addition to this, the awareness regarding the health benefits of the plant-based egg in this region also boosts the overall region's growth.
For more detailed information about the plant-based egg market report, click here – https://www.databridgemarketresearch.com/reports/global-plant-based-eggs-market
