According to TechSci Research report, “Vegan Egg Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, The global vegan egg market is expected to grow during the forecast period due to several Consumer demand for and interest in plant-based foods increased along with the launch of new products. Additionally, rising people concern for animals is preventing people from eating traditional eggs, which is advantageous for the pant-based egg. , which are driving the market for vegan egg in the projected period.
Vegan eggs are made by combining mung and soy extracts, legumes, peas, chickpeas, and other plant sources. To mimic the yellowness of chicken eggs, a small amount of turmeric is added. The liquid vegan egg looks like an egg yolk and can be used to make a variety of dishes. Vegan eggs can be used in a variety of dishes, including scrambled eggs and omelets. This alternative is made in such a way that it looks, feels, and even tastes like chicken eggs.
Consumers’ unpredictable lives are one of the main factors driving vegan egg market growth. People from all over the world are changing their lifestyles since doing so makes them healthier in the long run and less prone to illness. , and permissions from the safety authorities are some of the important aspects influencing the development of the global vegan egg market during the forecast period. As a result of rising food safety concerns about the use of antibiotics and hormones in poultry products, consumers are starting to lean toward plant-based foods. As a result, they’ve started avoiding poultry products in favor of plant-based alternatives, such as plant-based or vegan eggs.
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Furthermore, new product launches, increased awareness, and approvals from safety authorities are all important factors influencing industry growth. For example, Eat Just’s vegan mung bean egg was approved by the European Commission in April 2022. Eat Just worked with Analyze and Realize GmbH on the compilation and submission to the EFSA and Commission. Following this approval, the company intends to launch itself in European countries. Furthermore, Berlin-based Perfeggt announced plans to launch its plant-based egg product in other European countries such as the United Kingdom, Austria, and Switzerland in March 2022.
Concerns about the environment and climate change are driving the global market. The meat and animal products industry accounts for approximately 60% of all greenhouse gas emissions from food production. According to a recent study, animal-based foods pollute twice as much as plant-based foods. Grazing and animal rearing require more land and resources than plants, which are made available through deforestation, resulting in worsening climatic conditions. The market is expected to be driven by rising concern about climate change and a growing shift towards plant-based foods.
One of the major factors limiting the industry’s growth is the high cost of plant-based eggs. Aside from taste and mouthfeel, price is one of the most important factors for consumers. Since food allergies are likely to have an effect on industry growth, the large difference between vegan eggs and conventional eggs restricts market expansion. . As soy-based eggs, , have significant limitations due to the allergy caused by an abnormal response to soy proteins. These are some of the constraints to industry growth.
The global vegan egg market is segmented based on form, sources, distribution channel, region, and competitional landscape.
Based on form, the market is further fragmented into power, liquid, and egg shaped. Among these segments, liquid vegan egg is the fastest growing because it provides a more suitable option for consumers when it comes to baking, scrambling, and frying than their counterparts , , which trend led to increase the market demand.
Based on sources, the market is divided into mung beans, soya extracts, legumes, peas, and others. Based on distribution channel, the market is segmented into hypermarkets & supermarkets, convenience stores, specialty stores, online, and others (direct sales, distributors sales, etc.)). The market analysis also studies the regional segmentation divided among North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Key market players in the vegan egg market include:
- Eat Just, Inc.
- Evo Foodtech Private Limited
- Crafty Counter
- Roma Food Products (Orgran)
- Atlantic Natural Foods U.S. (neat)
- The Vegg New York, LLC
- Terra Vegane Europe GmbH
- Mantiqueira Alimentos Ltda
- ZERO EGG FOOD INC.
- Wholesome Savour Pte Ltd
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“New product development is a prominent trend that is expected to have an impact on the growth of the vegan egg market over the forecasted period, including rising allergenicity, increased awareness of environmental sustainability, and growing food safety concerns about the use of antibiotics and hormones in poultry products. All of these are factors driving the market growth. Additionally, there was a rise in consumer interest in and demand for plant-based foods, , all of which are positively driving market growth and are expected to boost industry growth in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Vegan Egg Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Form (Powder, Liquid, Egg Shaped), Sources (Mung Beans, Soya Extracts, Legumes, Peas, and Others), By Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online, and Others (Direct Sales, Distributors Sales, etc.)), By Region, Competition, has evaluated the future growth potential of vegan egg market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in vegan egg market, globally.
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