Vegan Egg Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Form, By Sources, By Distribution Channel, By Region, Competition

Description

Global vegan egg market is expected to be driven by rising awareness about food-borne illnesses. Furthermore, growing rising demand from an expanding vegan population is expected to fuel the growth of the vegan egg market.

One of the primary factors driving the market growth is the fact that many people are unable to eat eggs due to religious reasons, but they crave the taste. They can satisfy their taste buds by eating scrambled eggs or vegetarian omelets (no animal torture or flesh involved). For the same reason, many people turn to vegetarian eggs. Furthermore, the demand for vegan egg substitutes is driven by a number of factors, some of which are more important to consumers and others of which are more important to food manufacturers.

However, ingredients made from plants have less of an environmental impact. Eat Just claims that compared to "traditional animal sources," its vegan liquid eggs consume 98 percent less water, 86 percent less land, and have a 93 percent lower carbon footprint. According to Simply Eggless, a different vegan egg manufacturer, their lupin bean-based eggs use 95% less water and have a 90% lower carbon footprint than their animal-based counterparts.

Market Overview
Forecast Period	2024-2028
Market Size 2022	USD160 Million
Market Size 2028	USD450 Million
CAGR (2023-2028)	15%
Fastest Growing Segment	Online
Largest Market	North America

Rising Occurrence of Chronic Lifestyle Diseases Drive the Vegan Egg Sales

The vegan egg industry is also progressing due to growing public awareness of a variety of food-borne illnesses that are communicable, such as the salmonella bacterium, which is prevalent in chicken and is frequently transferred to eggs. A study published in the Journal of the American Medical Association looked into whether consuming dietary cholesterol from eggs increased the risk of cardiovascular disease and all-cause mortality. The eating of whole eggs is related with a higher risk of cardiovascular disease, cancer, and all-cause death, according to another sizable prospective study. Each additional 300 mg of dietary cholesterol consumed each day was linked to an increased risk of cardiovascular disease by 16%, an increased risk of all-cause mortality by 19%, and an increased risk of cancer mortality by 24%. In contrast to chicken eggs, which include 186 mg of cholesterol per whole egg, vegan eggs are normally cholesterol-free. People prefer vegan eggs in their day-to-day life in order to reduce their cholesterol intake, which is a significant factor driving the market for vegan egg.

Growing Consumer Preference for Vegan Food Aids the Market Expansion.

The growing demand for vegan processed foods is propelling the vegan egg market forward. Owing to that, rising allergenicity, increased environmental sustainability awareness, and the trend of consumers toward vegan diets are all factors driving the market growth. As more people are switching to plant-based diets, a growing number of companies are developing egg substitutes. For instance, in 2021, the American plant-based company Crafty Counter introduced "Wundereggs," ready-to-eat vegan boiled eggs that are cholesterol-free and have approximately the same amount of saturated fat as a normal egg.. Meanwhile, YO-Egg, an Israeli startup, has developed hyper-realistic plant-based fried eggs. JUST Egg is also a recognized and popular player in vegan liquid egg alternatives. Thus, increasing demand for vegan products and consumer start shifting from poultry products in favor of plant-based alternatives, such as vegan eggs, these trends have contributed to the market expansion during the forecast period..

Despite the fact that lockdowns and shelter-at-home measures have had little impact on the market, sales are expected to increase throughout the assessment period as the vegan population grows.

Increasing Investment Boost the Vegan Egg Industry

As the demand for plant-based foods grows, the company began investing in order to expand the business and strengthen their market positioning. As a result of this, vegan eggs will also see growth in the market. In order to fulfil the growing demand, major market players are focusing on developing new products and expanding their product lines. This is because plant-based eggs perform the same functions and have the same appearance and flavour as conventional eggs.. Zero Egg has invested more thanUSD6 million ahead of 2022 to capitalize on this trend, hiring nine full-time team members in the United States, including key roles in marketing, communications, culinary, operations, and sales. Zero Egg has replaced over a million ordinary eggs in less than a year and is on track to replace more than 1.5 billion in five years, shattering the massive egg industry. Thus, rising investment in the vegan egg industry, which has led to increase the market demand during the forecast period.

Market Segmentation

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 Powder, Liquid, and Egg Shaped. 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.

Company Profiles

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, are among the major market players in the global platform that lead the market growth of the global vegan egg market.

Report Scope:

In this report, the global vegan egg market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Vegan Egg Market, By Form:

Powder
Liquid
Egg Shaped

Vegan Egg Market, By Sources:

Mung Beans
Soya Extracts
Legumes
Peas
Others

Vegan Egg Market, By Distribution Channel:

Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Online
Others

Vegan Egg Market, By Region:

North America
- United States
- Canada
- Mexico

Europe
- United Kingdom
- Germany
- France
- Spain
- Italy

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea

South America
- Brazil
- Argentina
- Colombia

Middle East & Africa
- Saudi Arabia
- UAE
- South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global vegan egg market.

Available Customizations

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Vegan Egg Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Form, By Sources, By Distribution Channel, By Region, Competition

Description

Table of Contents

Rising Occurrence of Chronic Lifestyle Diseases Drive the Vegan Egg Sales

Growing Consumer Preference for Vegan Food Aids the Market Expansion.

Increasing Investment Boost the Vegan Egg Industry

Market Segmentation

Company Profiles

Report Scope:

Vegan Egg Market, By Form:

Vegan Egg Market, By Sources:

Vegan Egg Market, By Distribution Channel:

Vegan Egg Market, By Region:

Competitive Landscape

Available Customizations

Company Information

Table of Contents

1. Introduction

2. Research Methodology

3. Executive Summary

4. Voice of Customer Analysis (B2C Model Analysis)

5. Global Vegan Egg Market Outlook

6. Asia-Pacific Vegan Egg Market Outlook

7. North America Vegan Egg Market Outlook

8. Europe Vegan Egg Market Outlook

9. Middle East & Africa Vegan Egg Market Outlook

10. South America Vegan Egg Market Outlook

11. Market Dynamics

12. Impact of COVID-19 on Global Vegan Egg Market

13. Market Trends & Developments

14. Porter's Five Forces Model

15. Competitive Landscape

16. Strategic Recommendations/Action Plan