The Global Vegan Eggs Market size is expected to reach $479 million by 2030, rising at a market growth of 16.7% CAGR during the forecast period.
Integrating vegan egg-based dishes into restaurant menus and the broader food service industry has played a pivotal role in fueling consumer acceptance. Consequently, the offline segment captured $117.5 million revenue in the market in 2022. The diversification of vegan egg offerings within retail channels has been instrumental in accelerating market growth. Shifts in population demographics, such as urbanization, changing lifestyles, or population growth in certain areas, influence businesses to expand into new regions or modify their offerings to cater to evolving consumer preferences. Some of the factors impacting the market are rising food safety concerns propelling the production of vegan protein, expansion of retail and food service outlets and consumer perception and limited acceptance.
The burgeoning interest in vegan protein options arises from a confluence of factors centered on the safety and reliability of food sources, compelling consumers to seek alternatives that offer a reduced risk of contamination and align with their health, ethical, and environmental values. The safety profile of animal-based protein sources, such as eggs, poultry, and dairy, has been a subject of concern due to various contamination risks. Additionally, Effective marketing campaigns have helped raise awareness about vegan egg alternatives, showcasing their benefits, nutritional value, and culinary versatility. By disseminating information through various channels such as digital media, advertising, and product placements, these campaigns have educated consumers about the advantages of choosing vegan eggs, including being cholesterol-free, lower in saturated fats, and rich in plant-based nutrients. Hence, the positive impact of marketing strategies and consumer education on the demand for vegan egg products is evident in the increased consumer awareness, understanding, and acceptance of these alternatives.
However, Despite the increasing embrace of plant-based diets, some consumers remain skeptical or hesitant about incorporating vegan egg products into their culinary repertoire. This hesitation often stems from deeply entrenched perceptions about taste, texture, and nutritional value, ingrained through longstanding familiarity with traditional egg products. A significant hurdle the market faces is the lingering association of plant-based alternatives with inferior taste or texture compared to their animal-derived counterparts. This skepticism often leads to hesitancy in trying these alternatives, particularly among consumers who prioritize taste, nutritional value, or ease of use in their food choices. Resistance to change and a preference for the familiar influence consumer acceptance of vegan egg products. Thus, the lack of acceptance of these alternatives perpetuates a cycle of reluctance, constraining market penetration and adoption among certain consumer segments.
Based on form, the market is classified into powder, liquid, and egg-shaped. The liquid segment garnered the highest revenue share in the market in 2022. Liquid vegan eggs are convenient and ready-to-use, similar to traditional eggs, making them suitable for various cooking methods like scrambling, omelets, and baking without additional preparation. Liquid vegan eggs often mimic the texture and consistency of traditional eggs more closely than powdered alternatives, offering a more authentic cooking experience. They require minimal preparation and can be readily poured or used directly, appealing to consumers seeking quick and hassle-free options.
On the basis of distribution channel, the market is classified into offline and online. The online segment recorded a significant revenue share in the market in 2022. Online platforms offer convenience, allowing consumers to browse, compare, and purchase vegan egg products from anywhere, anytime, without needing to visit physical stores. Informed decision-making is facilitated for consumers through the ability to readily compare prices, peruse reviews, and investigate product specifications across various brands and sellers. The immediate delivery of vegan egg products to the doorstep is highly valued by consumers, particularly those who are pressed for time or have restricted access to physical retail locations.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 140.9 Million |
| Market size forecast in 2030 | USD 479 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 16.7% from 2023 to 2030 |
| Number of Pages | 169 |
| Number of Table | 250 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Form, Distribution Channel, Region |
| Country scope |
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| Companies Included | Eat Just, Inc., Glanbia PLC, Bob’s Red Mill Natural Foods, Inc., ProVeg e.V., Atlantic Natural Foods, Inc., Evo Foods, Lovely Day Foods GmbH, Roma Food Products, Grupo Mantiqueira and Le Papondu. |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment garnered a remarkable growth rate in the in 2022. In Europe, vegan eggs are becoming increasingly popular. The versatility of these substances allows them to be utilized in various ways, including as plant-based treats. Consumers are gaining greater awareness of the adverse environmental effects associated with animal-derived foods due to stringent regulations imposed by the government to prevent animal cruelty. Vegan eggs may be marketed as packaged foods suitable for consumption while traveling, given that Italy, Germany, and France are the most visited countries in Europe.
Free Valuable Insights: Global Vegan Eggs Market size to reach USD 479 Million by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eat Just, Inc., Glanbia PLC, Bob’s Red Mill Natural Foods, Inc., ProVeg e.V., Atlantic Natural Foods, Inc., Evo Foods, Lovely Day Foods GmbH, Roma Food Products, Grupo Mantiqueira and Le Papondu.
By Distribution Channel
By Form
By Geography
This Market size is expected to reach $479 million by 2030.
Rising food safety concerns propelling the production of vegan protein are driving the Market in coming years, however, Consumer perception and limited acceptance restraints the growth of the Market.
Eat Just, Inc., Glanbia PLC, Bob's Red Mill Natural Foods, Inc., ProVeg e.V., Atlantic Natural Foods, Inc., Evo Foods, Lovely Day Foods GmbH, Roma Food Products, Grupo Mantiqueira and Le Papondu.
The expected CAGR of this Market is 16.7% from 2023 to 2030.
The Offline segment is leading the maximum revenue in the Market by Distribution Channel in 2022;there by, achieving a market value of $380.2 million by 2030.
The North America region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030;there by, achieving a market value of $226.3 million by 2030.
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