Plant Based Eggs Market Poised for Major Growth as Consumer Awareness and Convenience Trends Rise During 2023 to 2033, Report by Future Market Insights, Inc.

Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

Plant-based eggs have seen an impressive growth trajectory over the past few years, with a compound annual growth rate of 11.1%, and there's no sign of slowing down – forecasts expect that trend to continue at a CAGR of 10.6% well into 2033

NEWARK, Del, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The plant-based eggs market is anticipated to be worth US$ 1613.1 million in 2023 and US$ 3984.5 million by 2033. The United Kingdom, the United States, China, and India are expected to emerge as major producers, with the demand for plant-based eggs predicted to increase at a steady 10.6% CAGR.

Companies are investing more in research and development to create more realistic and delicious plant-based egg products that mimic the taste and texture of traditional eggs. Some companies are also exploring new and innovative ingredients, such as peas, soy, and legumes, to create more authentic plant-based egg products.

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The rise of veganism has created lucrative new markets for plant-based products.

There has been a rise in the number of health-conscious and vegan consumers in recent years. The expansion of both product offerings and distribution options bodes well for the market's future growth.

Eggs, which have one of the highest protein contents of any food, are essential for maintaining adequate protein levels, and the expanding fitness industry presents a massive opportunity for suppliers. But it's not easy for vegans to find a replacement for eggs that provides the same amount of protein. Therefore, there is a lucrative plant-based eggs market. More importantly, the protein content of vegan eggs is rapidly catching up to that of real eggs. Consumers' growing fascination with animal-derived goods has temporarily increased demand.

Key Takeaways

  • The plant-based eggs market is driven by growing health consciousness, environmental concerns, economic factors and technological advancements.

  • The market is expected to grow due to an increase in the number of people adopting a vegetarian or vegan lifestyle, food allergies and intolerance, and government initiatives.

  • The plant-based eggs market is highly competitive, with many players operating globally, and is dominated by a few large players with a wide product portfolio and a strong distribution network.

  • Companies are focusing on product innovation, research and development, strategic partnerships and marketing and advertising to increase consumer awareness and expand their market share.

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Competitive Landscape

The plant-based eggs market is a highly competitive market with many players operating globally. The market is dominated by a few large players, with a significant number of small and medium-sized enterprises also present. The large players have a strong market presence, a wide product portfolio and a strong distribution network, which allows them to dominate the market. Some of the top companies in the market are Just Egg, Beyond Eggs, Follow Your Heart, The Veggie Goodness, Good Catch, Nellie's Free-Range Eggs, Hampton Creek, and Better Body.

These companies are focusing on product innovation, research and development, and strategic partnerships to expand their market share. Companies are also investing in marketing and advertising to increase consumer awareness and attract new customers. Additionally, companies are also focused on expanding their distribution networks and increasing their presence in new regions to increase their market share.

However, the plant-based eggs market is also witnessing the entry of new players, who are focusing on developing innovative products and expanding their market presence through strategic partnerships and collaborations. This is expected to increase the competition in the market and drive innovation in the industry.

Key Segments

Product type:

  • Tofu

  • Legume-based

  • Pea-based

Distribution channel:

  • Supermarkets

  • Grocery stores

  • Online

Region:

  • North America

  • Latin America

  • Europe

  • Asia Pacific (APAC)

  • Middle East & Africa (MEA)

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Table of Content

1. Executive Summary

  1.1. Global Market Outlook

  1.2. Demand-side Trends

  1.3. Supply-side Trends

  1.4. Technology Roadmap Analysis

  1.5. Analysis and Recommendations

2. Market Overview

  2.1. Market Coverage / Taxonomy

  2.2. Market Definition / Scope / Limitations

3. Market Background

  3.1. Market Dynamics

      3.1.1. Drivers

      3.1.2. Restraints

      3.1.3. Opportunity

      3.1.4. Trends

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Explore FMI’s Extensive Coverage on Food & Beverage Domain:

Vegan Egg Market Analysis: The global vegan egg market is expected to reach a market valuation of US$ 1.6 Bn by the year 2022, accelerating at a CAGR of 8.4% by 2022-2032.

Egg Replacer Market Size: Egg replacer market size exceeded USD 1.3 Bn in 2022 and is estimated to grow at over 5.4% CAGR between 2022 and 2032.

Egg Replacement Ingredients Market Value: The global egg replacement ingredients market is projected to have a moderate-paced CAGR of 5.8% during the forecast period.

Egg Emulsifier Market Trends: The global egg emulsifier market is expected to reach a market valuation of US$ 216.2 Mn by 2022, with sales growing at a CAGR of 6.5% over the assessment period.

Hydrolyzed Egg Market Forecast: The global hydrolyzed egg market is expected to reach a valuation of US$ 87.2 Mn in 2022 and accelerate at a CAGR of 8.0% during the forecast period of 2022-2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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