Vegan Eggs Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Vegan Eggs Market is segmented By Form (Powder, Liquid, Egg Shaped), By Distribution Channel (Online, Offline), and By Region (North America, South America, Europe, Asia Pacific, Middle East & Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Vegan Eggs Market Size

The Global Vegan Eggs Market reached US$ 1.5 billion in 2022 and is expected to reach US$ 4.5 billion by 2030 and grow with a CAGR of 14.8% during the forecast period 2024-2031.  The consumption of meat and animal products decreased due to the fear of diseases.

The growing health consciousness among people and increased demand for plant-based foods are driving the global vegan eggs market growth. Some of the major key players invested in expanding their business. For instance, in October 2021, Nestle launched plant-based alternatives to eggs and shrimps and extended its plant-based food portfolio. Additionally, new product launches, increasing awareness, and approvals from the safety authorities are essential factors impacting the industry’s growth.

The increasing demand for high-quality food products, the rapidly expanding global population, and the increasing vegan population drive the market. According to The Good Food Institute, the plant-based food market in the U.S. recorded 27% year-on-year growth from 2019 to 2020. 

Vegan Eggs Market Summary

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Vegan Eggs Market Dynamics and Trends

The Increasing Vegan Population Drives the Growth of the Global Alternative Sweeteners Market

The incidence of obesity-related disorders, such as diabetes, cardiovascular diseases, and others, has considerably increased in the last few years due to eating habits and sedentary lifestyles. According to the Organization for Economics Co Operations and Development ( OECD), the prevalence rate of obesity in the U.S., Mexico, and England is estimated to reach 47%, 39%, and 35%, respectively, by 2030. Health-conscious people are shifting to vegan foods to maintain good health.

According to recent studies from Veganz Nutrition Study 2022, 30% of Americans are not only leaving meat off their plates but also seeking plant-based alternatives. Consumers are projected to become selective in food habits to prevent severe health issues. Furthermore, growth in per-capita health expenditure, an increasing number of working women, and rapid urbanization enable consumers to buy healthy vegan eggs.

Increasing Health and Environmental Concerns are Driving Vegan Eggs Market Growth.

There has been an increased concern for health in recent years. The prevalence of obesity, diabetes, cardiovascular diseases, and others is growing, causing people to switch to vegan products. The meat and animal products industry is responsible for about 60% of the greenhouse gas emission from food production. 

A recent study found that animal-based food is responsible for double the pollution of plant-based foods. Grazing and rearing animals require a lot of land and resources compared to plants, which are made available through deforestation, resulting in a worse effect on the climate. The rising concern over climate change and the shift toward plant-based foods are expected to drive the market.

The High Cost and Allergies Related to Vegan Eggs are Restraining the Vegan Eggs Market Growth.

The high cost associated with plant-based eggs is one of the major factors limiting the industry’s growth. Price is among the main decisive factors for consumers besides taste and mouthfeel. Considerably high difference between vegan eggs and conventional eggs acts as a limitation for the industry growth. 

Moreover, food-borne allergies are likely to affect industry growth. Soy-based eggs, a cost-effective option, have major limitations due to the allergy induced by the abnormal response to the soy proteins. According to the National Institute of Health, the prevalence of soy intolerance is about 0.5% of the world population. These are some of the factors limiting industry growth. 

Vegan Eggs Market Segmentation Analysis

The global vegan eggs market is segmented based on form, distribution channel, and region.

In the Global Vegan Eggs Market, the Powder Form Segment Holds the Largest Market Share. 

The global vegan eggs market has been segmented by form into powder, liquid, and egg-shaped. The powder form segment held the largest vegan eggs market share of 45.4% in 2022 in the vegan eggs market analysis report. The increased demand for the powdered form of vegan eggs increases the segment’s growth.

The segment’s growth is facilitated by the increasing product launches and increasing consumer accessibility for products across the world. For instance, in February 2020, Noblegen launched vegan whole egg powder, a direct-to-consumer product through its New Food and Ingredient Brand, Eunite™ website. The product is made from euglena flour and can be used in recipes such as pancakes, sandwiches, and quiches. 

Vegan Eggs Market Geographical Share

The North America Held the Largest Share of the Vegan Eggs Market

The global vegan eggs market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American vegan eggs market held the largest market share of 38.6% in 2022 in the vegan eggs market analysis. The increased vegan population is driving the market in this region.

The rising awareness among people regarding a healthy lifestyle and the health benefits of a vegan diet and food products is further expected to contribute positively to the vegan egg market growth in the countries such as the United States and Canada. According to Ipsos Retail Performance, the number of Americans turning plant-based has reached 9.7 million people, growing from around 290,000 over 15 years. The tofu scramble, chickpea flour, flaxseed gel, and others are used as egg substitutes.

Vegan Eggs Market Companies

The major global players in the market include Eat Just, Inc., Glanbia plc, EVO Foods, Organ Foods, ProVeg International, Lovely Day Foods GmbH, Nobelgen, Inc., Grupo Mantiqueira, Le Papondu, and Atlantic Natural Foods.

COVID-19 Impact on Vegan Eggs Market

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving vegan eggs production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments. 

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like vegan eggs. The food businesses are launching innovative programs, including vegan eggs, which are readily available and straightforward to consume.

By Form

• Powder
• Liquid
• Egg Shaped

By Distribution Channel

• Online
• Offline

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In October 2021, Nestlé expanded its plant-based food portfolio and launched plant-based alternatives to eggs and shrimp. Plant-based eggs provide people with a wholesome, delectable option that is both sustainably and ethically produced. The plant-based products were introduced under Garden Gourmet vEGGie, which is vegan, omega-3 fatty acids and soy protein, and received a Nutri-Score A in Europe.
• In April 2022, Eat Just, a California-based plant-based product producer, received approval from the European Commission to launch its product line in Europe. With this regional expansion, the company aims to expand its European footprints and offer folded scrambled, and sous egg bites.
• In May 2022, Evo Foods partnered with Ginkgo Bioworks to introduce animal-free egg products. With this partnership, the companies aim to launch animal protein replacements that supplement consumer tastes in the wake of the rising demand for animal-free food alternatives among consumers.

Why Purchase the Report?

• To visualize the global vegan eggs market segmentation based on form, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development. 
• Excel data sheet with numerous data points of vegan eggs market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global Vegan Market report would provide approximately 61 tables, 59 figures, and 165 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies