Plant-based Eggs Market Is Set To Reach 147.6 Million By 2033, Growing At A CAGR Of 19

Key Insights

The size of the Plant-based Eggs Market market was valued at USD 147.6 Million in 2023 and is projected to reach USD 498.79 Million by 2032, with an expected CAGR of 19% during the forecast period. This growth is attributed to factors such as the rising demand for plant-based protein sources, increasing veganism and vegetarianism, government initiatives promoting sustainable food practices, and technological advancements in plant-based egg production. The market finds application in bakery, confectionery, food processing, foodservice, and household sectors. Key players include Eat Just, Impossible Foods, Follow Your Heart, and Nestlé. The plant-based eggs market is growing rapidly, as consumers increasingly seek vegan, vegetarian, and allergy-friendly alternatives to traditional eggs. Plant-based eggs, usually made from mung beans, soy, pea protein, and chickpeas, are versatile and can be used in baking, cooking, or as standalone products like scrambled eggs or omelets. It is influenced by an increasing concern regarding the environmental impacts of animal agriculture, health implications associated with high cholesterol, and the interest in plant-based diets. The market attracts consumers looking for sustainable, cruelty-free, and protein-rich food. Innovations that lead to new taste, texture, and nutritional profiles have seen companies such as Eat Just (JUST Egg), The Good Food Institute, and Follow Your Heart come up at the forefront. The market is expanding rapidly in North America and Europe, with increasing availability in supermarkets and foodservice outlets, while also showing growing interest from Asia-Pacific markets because of the spread of plant-based diets. Thus, the continued growth and innovation in the plant-based egg market are likely to benefit from continuously rising demand for cleaner, plant-based foods.

Plant-based Eggs Market Concentration & Characteristics

The Plant-based Eggs Market is characterized by innovation, regulatory impact, product substitutes, and end-user concentration. Regulatory measures support plant-based food development, influencing innovation. Plant-based egg substitutes include tofu, aquafaba, and chia seeds, creating competition. End-user concentration is notable in the foodservice and household sectors, driving demand. Mergers and acquisitions enhance market concentration, promoting industry consolidation.

Plant-based Eggs Market Trends

The Plant-based Eggs Market exhibits several key trends:

• Surge in Veganism and Vegetarianism: The growing adoption of vegan and vegetarian lifestyles fuels the demand for plant-based egg alternatives.
• Government Initiatives: Governments promote sustainable food practices and plant-based protein consumption through initiatives and subsidies.
• Technological Advancements: Innovations in plant-based egg production enhance taste, texture, and nutritional value, attracting consumers.
• Expansion of Distribution Channels: Plant-based eggs are now available in various retail channels, including supermarkets, specialty stores, and online platforms, increasing accessibility.

Key Region or Country & Segment to Dominate the Market

• Region: North America holds a dominant position in the Plant-based Eggs Market due to the presence of established plant-based food industries, high vegan and vegetarian population, and government support.
• Segment: The bakery and confectionery segment is projected to dominate the market as plant-based egg alternatives offer functional and nutritional benefits in baking applications.

Plant-based Eggs Market Product Insights Report Coverage & Deliverables

The Market report provides comprehensive insights into the Plant-based Eggs Market, including:

• Product Analysis: Detailed examination of plant-based egg varieties, sourcing, and applications.
• Regional Analysis: In-depth analysis of key regions and countries, including market size, trends, and growth forecasts.
• Competitive Landscape: Profiling of major players, market share analysis, and strategic initiatives.
• Industry Outlook: Assessment of the overall market outlook, growth drivers, challenges, and future trends.

Plant-based Eggs Market Analysis

The Plant-based Eggs Market is witnessing significant growth, driven by the increasing adoption of plant-based diets, government initiatives, and technological advancements. The market size is projected to expand substantially over the forecast period.

Plant-based Eggs Market Regional Insights

• North America: Key markets include the US and Canada, driven by high vegan and vegetarian population and established plant-based food industries.
• Europe: Germany and the UK lead the market, supported by government regulations and consumer demand for sustainable food choices.
• Asia Pacific: China, Japan, and India are emerging markets, witnessing rapid growth due to increasing awareness about plant-based diets and growing disposable income.
• Latin America: Brazil and Mexico are key markets, driven by rising health consciousness and government initiatives promoting plant-based food production.

Driving Forces: What's Propelling the Plant-based Eggs Market

• Rising veganism and vegetarianism
• Government initiatives promoting plant-based food consumption
• Technological advancements in plant-based egg production
• Health and environmental concerns
• Expansion of distribution channels
• Growing awareness about the sustainability of plant-based diets

Challenges and Restraints in Plant-based Eggs Market

• High production costs compared to traditional eggs
• Availability and quality of raw materials
• Regulatory barriers in certain regions
• Taste and texture limitations of some plant-based egg products
• Competition from traditional egg producers
• Consumer skepticism and resistance to change

Emerging Trends in Plant-based Eggs Market

• Development of new plant-based egg sources, such as fungi
• Innovation in production technologies to enhance taste and texture
• Partnerships between food manufacturers and startups to accelerate product development
• Expansion of plant-based egg applications in various food categories
• Collaboration between research institutions and industry players to advance plant-based egg research

Plant-based Eggs Industry News

• In March 2023, Zero Egg launched more egg-like versions of its clean-label plant-based egg patties, distributed by DOT Foods in the United States.

Leading Players in the Plant-based Eggs Market

• Eat Just, Inc.
• Impossible Foods Inc.
• Follow Your Heart
• Clara Foods
• Daiya Foods Inc.
• Nestlé S.A.
• Califia Farms
• The Vegetarian Butcher
• Sunfed Meats
• Blue Horizon Corporation
• Oatly AB
• Moving Mountains Foods
• Good Catch Foods
• Zero Egg
• Greenwise Co., Ltd.

Plant-based Eggs Market Segmentation

• 1. source, 2018 – 2032
  • 1.1. Legumes
  • 1.2. Grains
  • 1.3. Seeds
  • 1.4. Algae-based
  • 1.5. Others
• 2. form, 2018 – 2032
  • 2.1. Liquid
  • 2.2. Powder
  • 2.3. Others
• 3. end-use application, 2018 – 2032
  • 3.1. Bakery and Confectionery
  • 3.2. Food Processing
  • 3.3. Foodservice
  • 3.4. Household
  • 3.5. Others
• 4. distribution channel, 2018 – 2032
  • 4.1. Supermarkets and Hypermarkets
  • 4.2. Specialty Stores
  • 4.3. Online Retail
  • 4.4. Convenience Stores
  • 4.5. Others

Plant-based Eggs Market Segmentation By Geography

• 1. North America
  • 1.1. U.S.
  • 1.2. Canada
• 2. Europe
  • 2.1. UK
  • 2.2. Germany
  • 2.3. France
  • 2.4. Italy
  • 2.5. Spain
  • 2.6. Russia
• 3. Asia Pacific
  • 3.1. China
  • 3.2. Japan
  • 3.3. India
  • 3.4. South Korea
  • 3.5. ANZ
  • 3.6. Southeast Asia
• 4. Latin America
  • 4.1. Brazil
  • 4.2. Mexico
  • 4.3. Argentina
• 5. Middle East & Africa
  • 5.1. UAE
  • 5.2. South Africa
  • 5.3. Saudi Arabia