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Plant-based Eggs Market - By Source (Legumes, Grains, Seeds, Algae-based), By Form (Liquid, Powder), By End-Use Application (Bakery and Confectionery, Food Processing, Foodservice) By Distribution Channel & Forecast, 2024 – 2032

  • Report ID: GMI7233
  • Published Date: Oct 2023
  • Report Format: PDF

Plant-based Eggs Market Size

Plant-based Eggs Market size crossed USD 147.6 million in 2023 and is projected to witness 19% CAGR between 2024 and 2032. The market for plant-based eggs is expanding due to a rising movement toward plant-based diets and worries about sustainability.
 

Plant-based Eggs Market

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Consumers are looking for alternatives to regular eggs for health, environmental, and ethical reasons, which is fuelling market progress. Plant-based egg products, such as scrambled tofu and mung bean omelets, are becoming popular due to their resemblance to traditional eggs and are being accepted by vegans, vegetarians, and flexitarians. Furthermore, the environmental benefits of lowering animal agriculture's environmental effect are boosting demand for plant-based eggs as a promising and ecologically friendly dietary alternative.
 

The market's growth is hampered by a lack of consumer awareness about the category's availability, advantages, and different possibilities. Many potential customers are unaware of the nutritional advantages of plant-based egg alternatives, as well as their taste and texture resemblance to traditional eggs. Furthermore, as compared to typical animal-based eggs, these goods have less exposure and marketing efforts, which might stymie consumer adoption. Increased educational and promotional activities emphasizing the benefits of plant-based eggs and their contribution to sustainable and ethical food choices are critical to market expansion.
 

COVID-19 Impact

The COVID-19 pandemic had a mixed impact on the plant-based eggs market. On the one hand, the demand for plant-based eggs increased during the pandemic as more people became aware of the health benefits of plant-based foods and adopted vegan or vegetarian diets. Additionally, the pandemic disrupted the supply chain for chicken eggs, which led to some consumers switching to plant-based eggs as a more reliable alternative.
 

On the other hand, the pandemic also had a negative impact on the market. For example, the closure of restaurants and foodservice establishments reduced the demand for plant-based eggs in the foodservice industry. Additionally, the pandemic caused economic hardship for some consumers, which led them to reduce their spending on plant-based eggs and other premium food products.
 

Plant-based Eggs Market Trends

Continuous innovation in product offerings is a key trend in the plant-based egg industry, resulting in enhanced flavor, texture, and nutrient content of plant-based egg alternatives. Manufacturers are investing in R&D to make more convincing and adaptable egg alternatives that can be utilized in a variety of culinary applications, from baking to breakfast scrambles. As a result, consumers are more willing to accept plant-based eggs as a viable and appealing alternative to regular eggs, contributing to the market segment's long-term progress.
 

Plant-based Eggs Market Analysis

Plant-based Eggs Market Size, By Source, 2021 - 2032 (USD Million)

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  Based on source, the market is segmented as legumes, grains, seeds, algae-based, and others. Legumes held a majority market value of USD 45.2 Million in 2022. Plant-based eggs are made mostly from legumes such as chickpeas, mung beans, and lentils. With a protein content and texture like typical eggs, these legumes serve as the foundation for several inventive egg replacements on the market. Manufacturers offer sustainable and nutritious plant-based egg products that appeal to the growing customer demand for ecologically friendly and healthy alternatives to conventional animal-based eggs by leveraging the diversity of legumes.
 

Plant-based Eggs Market Revenue Share, By Form, (2023)

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Based on form, the plant-based eggs market is segmented as liquid, powder, and others. Liquid held a dominant business share of around 40.2% in 2022 and is expected to grow at a lucrative pace by 2032. The convenience factor and diversity in food preparation are driving the demand for liquid form plant-based eggs. As more people choose plant-based diets, the liquid form of plant-based eggs provides a useful alternative to traditional liquid eggs in a variety of culinary applications. This demand is increased by the ease with which it can be included into recipes, making it appropriate for a wide range of foods, from baking to omelets, and coinciding with the rising flexitarian and vegan customer base.

 

Based on end-use application, the market is segmented as bakery and confectionery, food processing, foodservice, household, and others. Bakery and confectionery held a majority market value of USD 43.9 Million in 2022. The baking and confectionery industries are seeing an increase in demand for plant-based eggs as customers seek healthier and more sustainable options in their baked goods and confectionary items. Plant-based eggs prepared from chickpeas, flaxseeds, or aquafaba are used as binding and leavening agents in recipes, decreasing the need for regular eggs. This trend is being pushed by a mix of health consciousness, dietary restrictions, and a desire to lessen the environmental effect of food production, which has made plant-based eggs a favored choice for both producers and customers in the baking and confectionery sector.
 

Based on distribution channel, the plant-based eggs market is supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. supermarkets and hypermarkets held a majority market value of USD 46.3 Million in 2022. The growing consumer awareness and acceptance of plant-based diets is driving the demand for plant-based eggs in supermarkets and hypermarkets. Supermarkets and hypermarkets are extending their product choices to appeal to this rising trend as more people seek healthier and more sustainable food options. The ease and accessibility of these retail venues, as well as the range of plant-based egg products offered, make switching to these alternatives simpler for customers.
 

North America Plant-based Eggs Market Revenue, 2021 - 2032 (USD Million)

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North America plant-based eggs market exceeded USD 50.1 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. The North American plant-based egg industry has experienced strong demand, fueled mostly by the region's rising health-conscious consumer base, as well as increased concerns about animal welfare and environmental sustainability. The acceptance of plant-based egg substitutes is being driven by an increase in vegan and vegetarian lifestyles, as well as an increase in flexitarian diets. North American consumers are increasingly seeking healthier and more sustainable protein sources, which has resulted in an explosion of novel plant-based egg products that resemble the flavor and texture of regular eggs, boosting market size in the region.
 

Plant-based Eggs Market Share

Major players operating in the plant-based eggs industry include:

  • Eat Just, Inc.
  • Impossible Foods Inc.
  • Follow Your Heart
  • Clara Foods
  • Daiya Foods Inc.
  • Nestlé S.A.
  • Califia Farms
  • The Vegetarian Butcher
  • Sunfed Meats
  • Blue Horizon Corporation
  • Oatly AB
  • Moving Mountains Foods
  • Good Catch Foods
  • Zero Egg
  • Greenwise Co., Ltd.

Eat Just, Inc. is a food technology company that develops and markets plant-based and cultivated meat products. Eat Just is best known for its plant-based egg substitute, JUST Egg. JUST Egg is made from mung beans and other plant-based ingredients, and it cooks and tastes like eggs. The company has a strong track record of innovation and execution, and it is well-positioned to capitalize on the growing demand for these products.
 

Plant-based Eggs Industry News

  • In March 2023, Zero Egg, a food tech company, announced the launch of more egg-like versions of its clean-label plant-based egg patties. DOT Foods sells it in the United States.
     

The Plant-based Eggs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Kilo Tons from 2018 to 2032, for the following segments:

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By source, 2018 – 2032

  • Legumes
  • Grains
  • Seeds
  • Algae-based
  • Others

By form, 2018 – 2032

  • Liquid
  • Powder
  • Others

By end-use application, 2018 – 2032

  • Bakery and Confectionery
  • Food Processing
  • Foodservice
  • Household
  • Others

By distribution channel, 2018 – 2032

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Online Retail
  • Convenience Stores
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • ANZ
    • Southeast Asia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia

 

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

Plant-based eggs industry size was USD 147.6 million in 2023 and is expected to reach USD 679.3 million by 2032, owing to the rising movement toward plant-based diets and growing concerns about sustainability worldwide.
Plant-based eggs industry from the legumes source segment recorded USD 45.2 million in 2022 and is expected to register a significant CAGR from 2023-2032 because of having a protein content and texture that is very similar to typical eggs.
North America plant-based eggs industry reached USD 50.1 million in 2022 and is expected to witness a commendable CAGR from 2023-2032 owing to the rising health-conscious consumer base, and increased concerns about animal welfare and environmental sustainability in the region.
Eat Just, Inc., Impossible Foods Inc., Follow Your Heart, Clara Foods, Daiya Foods Inc., Nestlé S.A., Califia Farms, The Vegetarian Butcher, and Sunfed Meats, are some of the major plant-based eggs companies worldwide.

Plant-based Eggs Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 300
  • Countries covered: 16
  • Pages: 180
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