Global Vegan Eggs Market Size, Share, Growth Analysis, By Form Outlook(Powder, Liquid), By Distribution Channels(Offline and Online)

Description

Global Vegan Eggs Market size was valued at USD 141.3 million in 2021 and is poised to grow from USD 163.4 million in 2022 to USD 567.5 million by 2030, growing at a CAGR of 16.7% in the forecast period (2023-2030).

The global industry for vegan eggs, derived from algae protein and flour, is anticipated to witness robust growth opportunities. Algal flour, which closely replicates the nutritional composition of traditional eggs, boasts high protein and vitamin content, as well as serving as a rich source of fiber and essential amino acids. Additionally, algal chemicals such as carrageenan and algin, present in algal flour as natural thickeners, contribute to the excellent texture and mouthfeel of vegan scrambled eggs made from algae. The market expansion is primarily driven by the increasing consumer demand and awareness of plant-based egg alternatives. With the global population on the rise, the demand for plant-based foods is also growing. According to The Vegetarian Resource Group, the number of vegans in the United States is steadily increasing, currently estimated at 2% of the population. Similarly, The Vegan Society reports a significant rise in veganism in the U.K., with 1.21% of the population identifying as vegan, up from 0.46%. Key market drivers include the growing vegan movement and the expanding global population. Berlin-based company Perfect has also announced plans to introduce its plant-based egg product in other European countries, such as the United Kingdom, Austria, and Switzerland, further driving market growth. New product launches, increased awareness, and regulatory approvals from safety authorities are among the key factors influencing the market's growth trajectory.

Segments Covered in this report

The Global Vegan Eggs Market is categorized into various segments based on Form Outlook, Distribution Channels, and region. In terms of Form Outlook, the market is divided into Powder, Liquid, and Egg-Shaped variations. When considering Distribution Channels, the market is segmented into Offline and Online channels. Geographically, the Vegan Eggs Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America regions.

Driver

Vegan eggs have gained significant popularity among vegans and vegetarians due to their ethical appeal as a cruelty-free alternative to eggs sourced from factory-farmed chickens. Moreover, vegan eggs are often cholesterol-free and devoid of other unhealthy components commonly found in animal-based products. The increasing influence of social media and heightened awareness of animal welfare and environmental concerns have played a pivotal role in driving the growth of veganism and vegetarianism.

Restraints

The relatively higher price of vegan eggs compared to conventional eggs can discourage certain consumers, particularly those who prioritize affordability. The increased cost of vegan eggs is primarily attributed to the expenses associated with producing plant-based alternatives, which can surpass those of conventional egg production. The production process for vegan eggs often involves the utilization of specialized ingredients and specific processing techniques, which contribute to the overall production costs.

Market Trends

With the increasing number of individuals embracing plant-based diets, there is a growing demand for alternative protein sources that are deemed healthy, sustainable, and ethically sound. Vegan eggs are recognized as a high-quality protein option that can be incorporated into various recipes and dishes. Protein is an essential nutrient vital for maintaining a well-balanced diet. However, conventional protein sources like meat and dairy products have been linked to adverse health and environmental effects. In contrast, plant-based proteins are generally regarded as healthier and more sustainable, as they have a reduced environmental impact and offer a diverse array of nutrients.

Product Code: SQMIG30I2179

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Vegan Eggs Market by Form Outlook

Market Overview
Powder
Liquid
Egg-Shaped

Global Vegan Eggs Market by Distribution Channels

Market Overview
Offline and Online

Global Vegan Eggs Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Eat Just, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Follow Your Heart
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Orgran (a division of Roma Foods)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
The Vegg
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dr. Cowan's Garden
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Terra Vegane
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Fooditive B.V.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Gleneagles Global Enterprises
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Vegan Eggz
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Beyond Eggs
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nourish Ingredients
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Planted
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Clara Foods
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Prolupin GmbH
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Arla Foods Ingredients
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zero Egg
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Greenline Foods, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Moving Mountains
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mycorena AB
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Hooray Foods
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Vegan Eggs Market Size, Share, Growth Analysis, By Form Outlook(Powder, Liquid), By Distribution Channels(Offline and Online) - Industry Forecast 2023-2030