The global plant-based eggs market is expected to be valued at US$ 122.8 million in 2023 and to reach a valuation of US$ 684.3 million by 2033. The demand for plant-based eggs is estimated to grow at a steady 18.7% CAGR, with the United Kingdom, the USA, China, and India emerging as key producers.
Plant-based eggs market is growing rapidly. Here are some key trends shaping the market growth:
| Attributes | Details |
|---|---|
| Plant-Based Eggs Market CAGR (2023 to 2033) | 18.7% |
| Plant-Based Eggs Market Size (2023) | US$ 122.8 million |
| Plant-Based Eggs Market Size (2033) | US$ 684.3 million |
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The global demand for plant-based eggs grew at a CAGR of 11.1% between 2016 and 2022, and it's expected to expand at a CAGR of 18.7% between 2023 and 2033. The growth potential of the sales of plant-based eggs could be looked at from short-term, mid-term, and long-term perspectives.
| Short-Term Outlook (2023 to 2025) | Consumers are becoming more conscious of the food choices they make, and are looking for options that align with their values, such as animal welfare, environmental sustainability, and health. Plant-based eggs tick all these boxes. |
|---|---|
| Mid-Term Outlook (2025 to 2028) | The availability of plant-based eggs through various distribution channels, such as supermarkets, online retail, and restaurants, is expected to drive market growth in the midterm. |
| Long-Term Outlook (2028 to 2032) | With the increasing popularity of plant-based products, investors are showing more interest in investing in the industry, which is expected to drive the sales of plant-based eggs in the long term. |
Increasing worries about global warming and the environment are propelling the industry worldwide. About 60% of the greenhouse gas emissions from food production may be traced back to the meat and animal products industry. According to a new scientific investigation, animal-based diets contribute twice as much to environmental degradation than plant-based foods do. Since deforestation makes more space and resources accessible for grazing and animal rearing, it has a more negative impact on the climate than planting trees would. The industry is predicted to grow as a result of people's growing awareness of climate change and the subsequent trend toward plant-based diets.
The introduction of innovative products, rising consumer interest, and official stamps of approval from safety regulators are also significant contributors to the development of the sector. In April 2022, for instance, news emerged that the European Commission had sanctioned Eat Just's vegan mung bean egg. It was compiled and submitted to the EFSA and the Commission with the help of Analyze and Realize GmbH, with which Eat Just partnered. Following this approval, the corporation is expected to begin expanding into European countries. And in March of 2022, the Berlin-based company Perfeggt stated that it would be expanding sales of its vegan egg substitute to the United Kingdom, Austria, and Switzerland.
Despite the drivers, the demand for plant-based eggs is being hampered due to two key restraints:
High Cost: Plant-based eggs are generally more expensive than traditional eggs, which can be a restraint for some consumers who may not be able to afford them.
Limited Availability: Plant-based eggs are not yet widely available in all regions, and this can be a restraint for consumers who live in areas where these products are not easily accessible.
Plant-Based Eggs Market:
| Attributes | Plant-Based Eggs Market |
|---|---|
| CAGR (2023 to 2033) | 18.7% |
| Market Value (2033) | US$ 684.3 million |
| Growth Factor | The rise in demand for plant-based diets |
| Opportunity | Innovation in ingredients |
| Restraints | Lack of consumer awareness |
Vegan Desserts Market:
| Attributes | Vegan Desserts Market |
|---|---|
| CAGR (2023 to 2033) | 8.5% |
| Market Value (2033) | US$ 6698.4 Million |
| Growth Factor | The growing interest in vegan products |
| Opportunity | Product innovation and continuous research by manufacturers |
| Restraints | High relative cost |
Vegan Cookies Market:
| Attributes | Vegan Cookies Market |
|---|---|
| CAGR (2023 to 2033) | 8.5% |
| Market Value (2033) | US$ 773 million |
| Growth Factor | Rise in veganism |
| Opportunity | Vegan cookie sales are soaring as manufacturers provide an increasing number of vegan cookie options. |
| Restraints | The lack of essential vitamins and minerals is a growing problem that could have serious consequences in the future. |
Principal Consultant
The growing popularity of plant-based food in the USA is driven by a combination of health, environmental, economic, technological, and lifestyle changes and changing consumer preferences factors. The plant-based food industry in the USA is rapidly growing, with new companies and products entering the market, and established companies expanding their offerings. As more US consumers become aware of the benefits of plant-based eggs, the market for these products is expected to continue to grow in the coming years. Additionally, the increase in demand for plant-based foods has led to more retailers and restaurants offering these options, making them more widely available and accessible to consumers.
Top Companies in the USA Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 11.1% |
|---|---|
| United Kingdom Plant-Based Eggs Market Share | 9.5% |
| United Kingdom Plant-Based Eggs Market Valuation (2022) | US$ 138.2 million |
| United Kingdom Plant-Based Eggs Market Valuation (2033) | US$ 438.1 million |
Climate change and other environmental concerns are driving more people in the United Kingdom to adopt plant-based diets and choose eco-friendly products. The United Kingdom has been a leader in the fight against climate change and people are becoming more aware of the impacts of animal agriculture on the environment, and are looking for more sustainable food options. Plant-based eggs have a much lower environmental impact than traditional eggs, and this is becoming a key consideration for United Kingdom consumers.
Plant-based eggs are often less expensive than traditional eggs, making them accessible to a wider range of people in the United Kingdom. With the increasing popularity of plant-based foods in the United Kingdom, more companies are entering the plant-based eggs industry, increasing competition and driving prices down.
Top Companies in the United Kingdom Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 9.3% |
|---|---|
| China Plant-Based Eggs Market Share | 8.1% |
| China Plant-Based Eggs Market Valuation (2022) | US$ 117.87 million |
| China Plant-Based Eggs Market Valuation (2033) | US$ 313.9 million |
The advancements in technology and research have led to the development of plant-based egg substitutes that mimic the taste and texture of traditional eggs, making them more appealing to Chinese consumers. Many companies in China are using new and innovative ingredients, such as peas, soy, and legumes, to create more realistic and delicious plant-based egg products. Additionally, companies are investing in research and development to create plant-based eggs that can be used in a variety of dishes, such as scrambled eggs, omelets, and fried eggs, making them more versatile and appealing to Chinese consumers.
A small percentage of the Chinese population follows Buddhism and vegetarianism, plant-based eggs provide a good alternative to eggs that come from chickens.
Top Companies in the China Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 10.4% |
|---|---|
| India Plant-Based Eggs Market Share | 3.3% |
| India Plant-Based Eggs Market Valuation (2022) | US$ 48 million |
| India Plant-Based Eggs Market Valuation (2033) | US$ 142.6 million |
There is an increasing awareness in India about the health benefits of plant-based foods, and many people are turning to vegan options, such as plant-based eggs, as a healthier alternative to traditional animal-based products. Many people in India are vegetarian for religious and cultural reasons, and plant-based eggs provide a good alternative to eggs that come from chickens. The government of India is promoting the plant-based food industry and providing support to the companies in terms of finances and other resources, which is helping the industry to grow.
Top Companies in the Indian Plant-Based Eggs Industry
| Segment | Product Type |
|---|---|
| Top Sub-segment | Powder |
| Market Share | 55.6% |
| Segment | End Use |
|---|---|
| Top Sub-segment | Food Processing Industry |
| Market Share | 40.1% |
The increasing demand for plant-based products, such as plant-based eggs, is driving growth in the food processing industry. As consumers become more health conscious and environmentally aware, they are seeking out plant-based alternatives to traditional animal-based products, which is leading to an increase in the demand for plant-based eggs and other plant-based food products.
Additionally, the food processing industry is expected to benefit from technological advancements in the development of plant-based egg substitutes. The use of newer and more innovative ingredients, such as peas, soy, and legumes, is expected to drive the development of new and improved plant-based egg products.
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Companies in the market are using a variety of strategies to drive growth. Some of the key strategies being adopted include:
Overall, companies in the market are adopting a variety of strategies to drive growth, increase market share, and stay competitive in the rapidly growing plant-based food industry.
The United Kingdom recorded a CAGR of 9.5% in 2022.
The United States is estimated to grow at 27.1% of share through 2033.
Tofu segment contributes a maximum share in the global market.
The food processing industry holds a maximum revenue of the global market.
From 2018 to 2022, the global market exhibited 11.1% CAGR.
1. Executive Summary | Plant-Based Eggs Market 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 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Source, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Source, 2023 to 2033 5.3.1. Legumes 5.3.2. Other Plant Sources 5.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Form, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Form, 2023 to 2033 6.3.1. Liquid 6.3.2. Powder 6.4. Y-o-Y Growth Trend Analysis By Form, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Form, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Sales Channel, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Sales Channel, 2023 to 2033 7.3.1. Offline Sales 7.3.1.1. Supermarket 7.3.1.2. Convenience Stores 7.3.1.3. Specialty Stores 7.3.2. Online Sales 7.4. Y-o-Y Growth Trend Analysis By Sales Channel, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Sales Channel, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. Middle East and Africa (MEA) 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. United States of America 9.2.1.2. Canada 9.2.2. By Source 9.2.3. By Form 9.2.4. By Sales Channel 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Source 9.3.3. By Form 9.3.4. By Sales Channel 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Source 10.2.3. By Form 10.2.4. By Sales Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Source 10.3.3. By Form 10.3.4. By Sales Channel 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Source 11.2.3. By Form 11.2.4. By Sales Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Source 11.3.3. By Form 11.3.4. By Sales Channel 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Source 12.2.3. By Form 12.2.4. By Sales Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Source 12.3.3. By Form 12.3.4. By Sales Channel 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Source 13.2.3. By Form 13.2.4. By Sales Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Source 13.3.3. By Form 13.3.4. By Sales Channel 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. United States of America 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Source 14.1.2.2. By Form 14.1.2.3. By Sales Channel 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Source 14.2.2.2. By Form 14.2.2.3. By Sales Channel 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Source 14.3.2.2. By Form 14.3.2.3. By Sales Channel 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Source 14.4.2.2. By Form 14.4.2.3. By Sales Channel 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Source 14.5.2.2. By Form 14.5.2.3. By Sales Channel 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Source 14.6.2.2. By Form 14.6.2.3. By Sales Channel 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Source 14.7.2.2. By Form 14.7.2.3. By Sales Channel 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Source 14.8.2.2. By Form 14.8.2.3. By Sales Channel 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Source 14.9.2.2. By Form 14.9.2.3. By Sales Channel 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Source 14.10.2.2. By Form 14.10.2.3. By Sales Channel 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Source 14.11.2.2. By Form 14.11.2.3. By Sales Channel 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Source 14.12.2.2. By Form 14.12.2.3. By Sales Channel 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Source 14.13.2.2. By Form 14.13.2.3. By Sales Channel 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Source 14.14.2.2. By Form 14.14.2.3. By Sales Channel 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Source 14.15.2.2. By Form 14.15.2.3. By Sales Channel 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Source 14.16.2.2. By Form 14.16.2.3. By Sales Channel 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Source 14.17.2.2. By Form 14.17.2.3. By Sales Channel 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Source 14.18.2.2. By Form 14.18.2.3. By Sales Channel 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Source 14.19.2.2. By Form 14.19.2.3. By Sales Channel 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Source 14.20.2.2. By Form 14.20.2.3. By Sales Channel 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Source 15.3.3. By Form 15.3.4. By Sales Channel 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Vegg 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.2. Conagra Brands Inc 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.3. Bob’s Red Mill Natural Foods 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.4. Just 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.5. Zero Egg 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.6. Float Foods 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.7. Evo Foods 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.8. Crack’d 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.9. Orgran 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.10. Earth Island 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Plant Based Eggs Market
