Plant-Based Eggs Market Size, Share Global Analysis Report, 2023-2030

Industry Insights

[219+ Pages Report] According to Facts and Factors, the global plant-based eggs market size was around USD 130.56 million in 2022 and is anticipated to reach USD 681.37 million by the end of 2030. The plant-based eggs industry is expected to grow with a CAGR of 23.37% between 2023-2030.

Plant Based Eggs Market: Overview

Plant-based eggs refer to products designed to offer similar functionality, texture, and taste as traditional chicken eggs. However, these products are entirely made from plant-based ingredients and free from animal by-products. It is gaining high popularity among consumers because of different reasons like environmental, ethical, and health concerns.

Key Insights

• As per the analysis shared by our research analyst, the global plant based eggs market size is estimated to grow annually at a CAGR of around 23.37% over the forecast period (2023-2030).
• In terms of revenue, the global plant based eggs market size was valued at around USD 130.56 million in 2022 and is projected to reach USD 681.37 million by 2030.
• Rising demand for plant-based food is driving the growth of the global plant based eggs market.
• Based on the type, the plant-based full egg segment is growing at a high rate and is projected to dominate the global market.
• Based on the form, the plant-based liquid egg segment is projected to swipe the largest market share.
• Based on the base ingredient, the soy flour segment accounts for the largest share of the global market.
• Based on the end user, the food processing industry segment is likely to dominate the global market.
• Based on the distribution channel, store-based retail is the fastest-growing segment in the global market.
• Based on the packaging type, the tetra-pack segment is projected to be the highest contributor to the global market.
• Based on the nature, the non-GMO segment is gaining high momentum in the global market.
• Based on the category, organic products are growing in demand in the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

Plant Based Eggs Market: Growth Drivers

• Rising demand for plant-based food is driving the growth of the global market.

The rising trend of adopting plant-based or vegan diets led to a reduction in the consumption of animal-derived products. Consequently, consumers are looking forward to the ideal alternatives to traditional animal-based products like eggs.

Moreover, increasing health consciousness among consumers, particularly due to the growing cases of cholesterol, high saturated fats, and allergens, is further boosting the demand for plant-based food. The plant-based diets are viewed as more healthier options for the nutritional profile.

However, such a landscape is likely to propel the growth of the global plant-based eggs market during the forecast period. Shukran Foods launched 100% vegan products to substitute eggs for the food service and hospitality sector in January 2023. The egg replacement solution is likely to overcome the challenges prevailing in the plant-based egg industry.

Plant Based Eggs Market: Restraints

• Ingredients sourcing and supply chain issues are likely to hamper the growth of the global market.

Sourcing high-quality plant protein is a big challenge for manufacturers. Additionally, securing a consistent supply of key ingredients and distribution channels is complex. Moreover, the high dependency on specific crops causes disruption. Therefore, such issues are likely to affect the growth of the plant-based eggs industry in the forthcoming years.

Plant Based Eggs Market: Opportunities

• Globalization and cultural acceptance are likely to offer growth opportunities in the global market.

Plant-based diets are gaining traction among a broader customer base. Vegan diets are widely being accepted in different parts of the world, which in turn is expanding the scope of the plant-based eggs industry globally. Moreover, these eggs are free from common allergens like dairy and eggs, which makes them ideal for individuals with dietary restrictions or food allergies.

Ginkgo BioWorks and Evo Foods will collaborate to commercialize plant-based eggs in 2022. The collaboration aims to introduce vegan proteins to complement consumer tastes with a wide range of product options.

Plant Based Eggs Market: Challenges

• Limited product variety is a big challenge in the global market.

Plant face diets have unlimited product variety. Plant-based egg alternatives, however, make significant strides with a wide range of products and formats. However, people still view the plant's product portfolio with limited products, which is a big challenge in the global plant-based eggs market.

Plant Based Eggs Market: Segmentation

The global plant-based eggs market can be segmented into type, form, base ingredient, end user, distribution channel, packaging type, nature, category, and region.

By type, the market can be segmented into egg yolk, white egg, and full egg. The plant-based full egg segment is projected to grow with the highest CAGR during the forecast period. These eggs are the best alternatives designed to mimic the taste and appearance of both the egg white and yolk in a single product and therefore, the product has high demand in the global plant-based eggs market.

The product offers a complete replacement in baking and cooking applications. Moreover, they are highly versatile in nature, which makes them fit for a wide range of recipes like baked goods, quiches, scrambled eggs, etc.

By form, the market can be segmented into the liquid, powder, and others. The plant-based liquid egg segment is projected to swipe the largest market share in the forthcoming years. The liquid form of these vegan eggs has a high consumer inclination because of their ease of use. Also, the yolk and albumin in the product are non-separable, which is a big plus point for the consumers as separation leads to the deterrence in the end products.

By base ingredient, the market can be segmented into pea, mung beans, starch, garbanzo beans, chia seeds, soy flour, wheat flour, algal flour, and others. The soy flour segment accounts for the largest share of the plant-based eggs industry.

Soy flour-based vegan eggs are used as a common ingredient in the preparation of a large variety of dishes, including eggs, because of their high protein content. Also, soy flour offers appropriate structure and texture to the products as compared to their animal counterparts.

By end-user, the market can be segmented into retail food service providers, food processing industry, and others. The food processing industry segment is likely to dominate the plant-based eggs industry during the anticipated period.

The food processing industry includes producers and manufacturers of varied food products like packaged meals, frozen foods, baked goods, snacks, and others. Therefore, plant-based eggs are highly used in the formulation of different processed food products.

By distribution channel, the market can be segmented into online and store-based retailers. Store-based retail is the fastest-growing segment in the global plant-based eggs market because, more often, people buy these products impulsively after checking out shelves in the stores.

By packaging type, the market can be segmented into tetra packs, pouches, bottles, and others. The tetra-pack segment is projected to be the highest contributor to the global market because people prefer tetra-pack packaging as it offers high convenience and is easy to store.

By nature, the market can be segmented into non-GMO and GMO. The non-GMO segment is gaining high momentum in the global plant-based eggs market because of the growing health consciousness among people.

By category, the market can be segmented into organic and conventional. Organic products are growing in demand because of the increasing contamination of the food products in the market.

Report Scope

Plant Based Eggs Market: Regional Analysis

• North America to dominate the global market.

North America is anticipated to witness a high growth rate during the forecast period. The growing concerns regarding the environmental impact of conventional egg production are one of the major reasons for the growth of vegan eggs in the region. The increasing greenhouse emissions and water usage are further driving consumers to shift from animal-based diets to sustainable alternatives.

Additionally, the increase in retail availability of plant-based eggs, along with growing marketing efforts to popularize vegan diets, will also increase the demand for plant-based eggs. Moreover, fast food chains, cafes, and restaurants in North America are including vegan alternatives in their menus to cater to the growing demand from a broader customer base.

Asia Pacific is also gaining immense traction because of the presence of a large and diverse population. The increasing consumer awareness regarding health, animal welfare, and sustainability considerations is further driving interest in plant-based alternatives like plant-based eggs.

Several international plant-based food companies are investing in the region because of the growing potential in the market, which in turn is likely to positively impact the growth trajectory of the regional market. For instance, Nestle came up with vegan eggs and shrimp in the year 2021 to expand its plant-based food line. Soy protein-based plant products released under the Garden Gourmet veggie brand in Europe.

Plant Based Eggs Market: Competitive Analysis

The key leaders in the global plant-based eggs market include:

• Eat Just Inc.
• Follow Your Heart
• Clara Foods
• Nestlé
• The Vegg
• Vital Farms
• Orgran
• JUSTIN'S
• Unilever
• MimicCreme
• Good Catch
• PepsiCo
• Sunfed
• Crackd
• Mungo Foods
• The Plant-Based Egg Company

The global plant based eggs market is segmented as follows:

By Type Segment Analysis

• Egg Yolk
• White Egg
• Full Egg

By Form Segment Analysis

• Liquid
• Powder
• Others

By Base Ingredient Segment Analysis

• Pea
• Mung Beans
• Starch
• Garbanzo Beans
• Chia Seeds
• Soy Flour
• Wheat Flour
• Algal Flour
• Others

By End User Segment Analysis

• Retail Food Service Providers
• Food Processing Industry
• Others

By Distribution Channel Segment Analysis

• Online
• Store-Based Retailers

By Packaging Type Segment Analysis

• Tetra Packs
• Pouches
• Bottles
• Others

By Nature Segment Analysis

• Non-GMO
• GMO

By Category Segment Analysis

• Organic
• Conventional

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America