Global Plant-Based Egg Market – Industry Trends and Forecast to 2030

Plant-Based Egg Market Analysis and Size

The popularity of veganism is rising as environmental awareness among the general public rises. The rearing and social status of farm animals such as pigs, hens, cows, and goats influence the greenhouse effect. Customers are changing to a more plant-based diet due to climate awareness. Additionally, there have been advances in technology for plant-based substitutes, one of which is a plant-based egg.

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. 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.

 Plant-Based Egg Market Scope and Segmentation

Market Definition

Eggs made from plants are an alternative to regular eggs. They are not made from hens; instead, they are made from raw plant materials such as algae, legumes, cereals, and others. Eggs made from plants perform similarly to traditional eggs. In place of traditional egg breakfast dishes such as omelets and scrambled eggs, among others, they are used. They can also be used in homemade baked goods, such as muffins and cakes. They support various processes, including stabilization, gelation, and emulsification.

Global Plant-Based Egg Market Dynamics

Drivers

• Awareness of vegetarian plant-based egg

Plant-based eggs, milk, and meat are some novel products that stimulate growth. These products are rich in essential nutrients and taste and also have an identical taste to animal-derived products. Plant-based egg proteins can easily be consumed by vegetarians, which helps them maintain a healthy lifestyle and desired nutritional values.

Opportunities

• Increase in consumers of vegan food

Veganism is growing in popularity all over the globe as people are becoming more concerned about the environment and animals. On farms, livestock such as pigs, hens, cows, and goats contribute to the greenhouse effect through their rearing and social standing. Greenhouse gases are released from livestock agriculture, such as cow farming, and the gases are released to prevent atmospheric heat from escaping, raising the overall temperature. The increased demand for animal meat necessitates the excessive practice of animal farming. Thus, an increase in the number of vegan food consumers eliminates the demand for excessive animal farming, decreasing greenhouse gas emissions in the environment.

• Technological advancements in the plant-based egg market

The demand from millennials and emerging markets, outstripping supply, is expected to drive the plant-based egg market's revenue growth at a healthy CAGR. Key growth drivers in the plant-based egg market are technological advancements allowing effective production, expanding product portfolio, upscale design and packaging, efficient operational maintenance, and sales monitoring.

Restraints/ Challenges

• High cost and limited availability

They are typically more expensive than traditional eggs, and consumers who cannot afford them may be constrained from purchasing plant-based eggs. Plant-based eggs are also not widely and conveniently accessible in many areas. This will be a major challenge for the plant-based egg market's growth.

This plant based egg market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plant based egg market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2021, Nestlé launched plant-based substitutes for eggs and shrimp as well as an expansion of its line of plant-based foods. People now have a delicious, healthy option produced ethically and sustainably thanks to plant-based eggs. The vegan, omega-3 fatty acid and soy protein-containing plant-based products were released under the Garden Gourmet veggie brand in Europe and received a Nutri-Score.

• In 2022, Evo Foods and Ginkgo Bio Works collaborated to market egg products without the use of animals. With this alliance, the businesses hope to introduce vegan protein options that complement consumer tastes in response to the growing demand for vegan food options among consumers.

 Global Plant-Based Egg Market Scope

The plant based egg market is segmented based on type, forms, source, function, application, category, nature, packaging type, distribution channel, and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Full Egg
• White Egg
• Egg Yolk

Forms

• Powder
• Liquid
• Others

Source

• Algal Flour
• Wheat Flour
• Soy Flour
• Chia Seeds
• Garbanzo Beans
• Starch
• Mung Beans
• Pea
• Flaxseed
• Others
• Gelatine
• Yeast Extracts
• Others

Function

• Partial Egg Replacement,
• Full Egg Replacement
• Egg Wash Substitute
• Others
• Thickening,
• Glazing
• Aeration
• Batter Viscosity
• Elasticity
• Stability
• Structure Retention,
• Glazing

Application

• Breakfast
• Bakery
• Desserts
• Convenience Foods
• Others
• Sauces
• Savories
• Others

Category

• Conventional
• Organic

Nature

• GMO

• Non- GMO

Packaging Type

• Bottles
• Pouches
• Tetra Packs
• Others

Distribution Channel

• Store Based Retailer
• Non-Store Based Retailer (Online)

End Use

• Food processing industry
• Bakery & confectionery
• Creamy sauces
• Ice creams and frozen deserts
• Mayonnaise
• Noodles and pasta
• Salad dressings
• Others
• Food service providers
• Retail/ Household
• Convenience stores
• Discount stores
• Modern trader
• Grocery stores
• Online retails
• Speciality stores
• Wholesalers
• Other sales channel

 Global Plant-Based Egg Market Regional Analysis/Insights

The global plant-based egg market is analysed and market size insights and trends are provided by country, type, forms, source, function, application, category, nature, packaging type, distribution channel, and end use as referenced above.

The countries covered in the global 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).

The market for plant-based foods is found to be dominated by North America. The success of the plant-based food industry in North America is attributed to a number of factors, including the region's high awareness of the value of diets high in protein, rising consumer health consciousness, a well-established food industry, higher adoption of technological advancements, and significant investments in the plant-based sector.

Asia-Pacific will score the highest growth rate during the forecast period. This can be attributed to elements such as the rising adoption of cutting-edge technologies for product innovation, partnerships between domestic and foreign food companies, increased government R&D expenditures in the food industry, the presence of numerous significant market participants, and the rise in vegan dining options.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Plant-Based Egg Market Share Analysis

The global plant-based egg market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global plant-based egg market.

Some of the major players operating in the global 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.)

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