Vegan Egg Market

Vegan Egg Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Vegan Egg Market was worth US$ 1,700.0 Mn and is expected to grow at a CAGR of 8.3% over the forecast period. The market is expected to hit US$ 3,200.0 Mn by 2030 end.

Egg Substitute ingredients are substances used to replace eggs in cooking and baking. Several substances available on the market may be used as Egg Substitutes.

Most of these goods are devoid of any animal products. Therefore they are considered ingredients, and they also do not include cholesterol. Consumers also employ DIY egg substitutes such as fruits, potato starch, baking powder, chia seeds, crushed seeds, etc.

Obesity risk among the younger generation has also boosted the market for plant-based eggs, as individuals consciously try to modify their eating habits, which are often encouraged by nutritionists and dieticians, and growth in the health-related web material.

Market Dynamic

HEALTH-RELATED CONDITIONS ARE DRIVING THE MARKET

The rising popularity of vegan processed foods has increased the need for goods like these. This global industry is driven by causes such as rising allergenicity, more awareness about environmental sustainability, and a movement in consumer preferences toward vegan diets.

Other secondary drivers of the worldwide market include enhanced shelf life compared to eggs and rising egg prices due to increased poultry illnesses. It has the potential to replace eggs in a variety of culinary products such as cakes, muffins, biscuits, mayonnaise, noodles, and so on.

The rising prevalence of health-related conditions such as obesity and heart disease has raised consumer preference for low cholesterol dietary components, resulting in increased demand.

These goods are abundant in important nutrients and taste comparable to those obtained from animals. Other reasons, such as substantial promotional operations by celebrities and athletes to encourage vegetarian product use to maintain a healthy lifestyle, and the convenience of product availability via increasing online retail channels, are projected to propel the market even further.

HIGH COSTS HAMPER THE MARKET

Plant-based eggs are more expensive than traditional eggs, limiting market expansion. A few home producers might substantially threaten the global plant-based egg business.

Segment-Wise Analysis

By Product Type

• Powder
• Liquid

By Nature

• Organic
• Conventional

By End-use

• Food Processing Industry
  • Bakery & Confectionery
  • Creamy Sauces
  • Ice-cream & Frozen Desserts
  • Mayonnaise
  • Noodles & Pasta
  • Salad Dressings
  • Others
• Food Service Providers
• Retail/Household
  • Convenience Stores
  • Discount Stores
  • Modern Trade
  • Grocery Stores
  • Online Retail
  • Specialty Stores
  • Wholesalers
  • Other Sales Channel

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Why is the Organic segment expected to expand the fastest during the forecast period?

Organic vegan eggs are predicted to grow at a CAGR of 13.4% during the projection period, whereas conventional vegan eggs account for around 87.7% of the worldwide market.Increased demand for organic goods from developed and developing countries propels the worldwide industry forward. People believe organic food IS healthier and better for immunity.

Why are powdered Type Vegan eggs projected to have the highest CAGR?

Powdered vegan eggs are expected to rise at a 7.5% CAGR during the projected period, owing to the growing vegan trend and enhanced convenience.

Vegan powdered eggs are useful for producing almost any egg-containing recipe, such as scrambled eggs and casseroles, because they can be stored for extended periods while still keeping the same nutrients as fresh eggs. In general, liquid eggs are more costly than powdered eggs.

Which region is expected to have a greater market share and why?

In 2021, North America accounted for more than 50.0% of revenue share. The regional market is expanding due to increased demand for vegan processed meals. Furthermore, increased environmental sustainability concerns and customer preference for vegan diets positively support market growth.

Vegan eggs are becoming increasingly popular in the United States and other parts of the world. They are used in anything from healthy snacks and beverages to plant-based delights such as veggie burgers and meat alternatives.

Competition Analysis

The vegan egg industry is highly fragmented, with several businesses vying for a piece of the action. Packaging is crucial in the Vegan Egg business because it adds value to the quality and looks of the product.

Vegan eggs use correct packaging practices to improve the shelf life of their goods. Aesthetic packaging may attract many customers, increasing demand for Vegan Egg goods.

Manufacturers are investing in R&D to produce innovative vegan egg replacements that can be used for various purposes and approximate the egg flavor in multiple goods.

Some of the key developments that have taken place in the Vegan Egg Market include:

• In April 2022, Eat, a California-based plant-based food manufacturer, acquired European Commission authorization to launch its product range in Europe. The company’s goal with this regional growth is to increase its influence in Europe and provide folded, scrambled, and raw egg pieces.
• In 2022, Evo Foods collaborated with Ginkgo Bioworks to develop animal-free egg products. With this collaboration, the firms want to offer animal protein substitutes that complement consumer preferences in response to increased demand for animal-free food alternatives.

A list of some of the key suppliers present in the market are:

• 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

 Global Vegan Egg Market 2022-2030: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies