The global vegan egg market size is expected to reach a market valuation of US$ 1,973 million in 2023, accelerating at a CAGR of 6% from 2023 to 2033. By 2033, the market is expected to generate market value of US$ 3,494.7 million. Vegan egg sales currently account for more than 2.9% of the global egg market in terms of value.
Global vegan egg market poised for a 6% CAGR, reaching $1,973 million by 2023. Rising awareness fuels the popularity of plant-based alternatives like eggs, meat, and milk, offering similar taste and nutrients, catering to vegetarians and vegans for a healthy, nutrient-rich diet.
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People’s increasing knowledge of vegetarian plant-based cuisine is driving growth in the market. Plant-based eggs, meat, and milk are examples of innovative products that have proven popular in the market. These foods are packed with flavour and vital nutrients, and their taste profiles are identical to those of their animal-extracted counterparts. Vegetarians and vegans can just consume plant-based solutions. Incorporating vegan eggs into your diet ensures a healthy lifestyle and a high nutritional intake.
People are increasingly becoming vegan due to the alarming situation of animals and the environment. The livestock that is eventually consumed by non-vegetarians, contributes to the greenhouse effect via social standing and rearing. The greenhouse gases that are imparted from livestock agriculture like cow farming ultimately raise the overall temperature. The heightened demand for animal meat leads to the aggressive practice of animal farming. Therefore, a surge in vegan food consumers reduces the practice of animal farming, resulting in lessened greenhouse gas emissions.
Over the forecast period, the market is expected to be positively influenced by technological advances. Yielding effective production, upscale packaging, and design, extending product offerings, sales monitoring, and effective operational maintenance.
Top Highlights from the FMI’s Analysis of the Vegan Egg Industry:
- The United States vegan egg industry acquired 34.5% of the global market in 2022.
- In Europe, Germany and the United Kingdom have surfaced as the key markets. Germany took hold of 16.5% market share in 2022. The United Kingdom is projected to speed up and register a CAGR of 5.6% over the forecast period.
- In Asia, China and India are the key vegan egg markets. China is projected to expand at a CAGR of 7.8%. India is forecast to register CAGR of 6.7% in the forecast period.
- Japan gained 1.4% of the entire market share in 2022.
- By product type, powder grabbed the maximum market share of 39% in 2022.
- Based on nature, the organic segment acquired a 22% market share in 2022.
- Under the end-user category, bakery products gained a 24% market share in 2022.
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Key Players in the Vegan Egg Market
- 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
Market Update: Recent Key Innovations
- Nestlé, in October 2021, extended its reach with its portfolio of plant-based food and introduced plant-based substitutes to shrimp and eggs. These alternatives offer people a delectable and wholesome option that is ethically and sustainably produced. The plant-based eggs and shrimps were launched under the Garden Gourmet vEGGie brand. The brand supports vegan, soy protein, and omega-3 fatty acids, and was also acknowledged with Nutri-Score A in Europe.
- Eat Just, which is a California-situated plant-based product developer, in April 2022, got consent from European Commission to introduce its product offering in Europe. The company aims to extend its footprints in the region and provide scramble, folded, and sous egg bites.
- Evo Foods united with Ginkgo Bioworks to debut animal-free egg products in May 2022. Owing to this alliance, the firms aim to introduce animal protein substitutes that complement consumer tastes. In recent years, consumers are influenced by the surging demand for animal-free food substitutes.
Key Segments
By Product Type:
- Powder
- Liquid
By Nature:
- Organic
- Conventional
By End-use Application:
- 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:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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