Vegan Egg Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[213+ Pages Report] According to Facts & Factors, the global vegan egg market size was valued at USD 1,581.40 million in 2023 and is predicted to surpass USD 3,322.90 million by the end of 2032. The vegan egg industry is expected to grow by a CAGR of 8.60% between 2024 and 2032.

Market Overview

Vegan eggs are plant alternatives to traditional animal-based products. These products have the same texture, taste, and functionality as animal-based products. These products are much in demand because they are environmentally friendly, sustainable, and nutritious. Vegan eggs are made using chick flour, tofu, aquafaba, chia seeds, commercial vegan egg replacers, black salt, and many other ingredients. Vegan eggs are widely used in different kinds of culinary applications like baking, cooking, and others. Also, it is cruelty-free, low in saturated fat, and cholesterol-free which further appeals to consumers looking forward to healthier diet options.

Key Insights

• As per the analysis shared by our research analyst, the global vegan egg market size is estimated to grow annually at a CAGR of around 8.60% over the forecast period (2024-2032).
• In terms of revenue, the global vegan egg market size was valued at around USD 1,581.40 million in 2023 and is projected to reach USD 3,322.90 million by 2032.
• Fast growing vegan population is driving the growth of the global vegan egg market.
• Based on the end-user applications, the food service provider segment is growing at a high rate and is projected to dominate the global market.
• Based on the nature, the conventional segment is projected to swipe the largest market share.
• Based on the product types, the powder segment is expected to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Fast growing vegan population is driving the growth of the global market.

A growing number of individuals are adopting a flexible and vegetarian diet, which is a major reason for boosting the demand for vegan eggs in the markets. People are looking for ways to lower their consumption of animal-based products.

Additionally, the rising concerns regarding environmental sustainability are also expected to propel the growth of the global vegan egg market. Production of vegan eggs poses a lower environmental impact and, therefore, appeals to environmentally conscious consumers. Increasing awareness among people regarding the health benefits of plant-based diets is further driving demand for plant-based products like vegan eggs.

Animal-based and dairy products are high in saturated fat and cholesterol, which negatively impact human health in the long run. Also, the changing regulatory standards are promoting plant-based products because of their transparent label and less environmental impact. Investments from food companies are another major reason is accentuating the growth of the industry in the coming years.

For instance, Zero Egg was coming up with clean-label vegan egg patties in March 2023. It is an egg company, and its product is sold under DOT Food in the US.

Restraints

• Cultural preferences are likely to hamper the growth of the global market.

Many regions have animal-based products as their traditional culinary preferences, which is likely to hinder the growth of the vegan egg industry. Consumers are reluctant to adopt plant-based alternatives, and therefore, it is likely to slow down the growth of the industry. People view vegan eggs as less nutritious and full of additives, which is also a big reason for the slow growth of the industry in the coming years.

Opportunities

• Innovation in product development is expected to foster growth opportunities in the global market.

The ongoing innovations in the field of vegan eggs are driving growth opportunities in the global vegan egg market. Innovations to improve the functionality, texture, and taste are leading to the development of unique dishes to appeal to consumers.

Also, manufacturers are investing heavily in increasing research and development activities to improve formulations that can easily mimic the properties of traditional eggs to satisfy the growing demands of consumers. The easy availability of vegan egg products all across the globe through supermarkets, specialty stores, retail outlets, and online platforms is further making these products more accessible to consumers.

Increasing retail distribution is expanding the market reach and, therefore, boosting sales in the industry. The product is more versatile in nature and can be used in a variety of culinary applications. For instance, Ginkgo Bio Works and Evo Foods partnered to market vegan egg products in 2022. This alliance helps companies come up with more diverse vegan protein options, which is likely to boost the demand for vegan food.

Challenges

• Lack of awareness is a big challenge in the global market.

People are not educated enough to understand the benefits of vegan products over animal-based products. Many people across the globe are not familiar with the plant-based alternative, which is a big challenge in the vegan egg industry. Also, these products are priced quite higher than animal-based products, which is likely to restrict the growth of the industry.

Segmentation Analysis

The global vegan egg market can be segmented into end-user, nature, product types, and regions.

By End-User Insights

On the basis of end-user, the market can be segmented into food service providers, food processing industry, residential, and others. The food service provider is the fastest-growing segment in the vegan egg industry. Changing consumer preferences is one of the major reasons for the high growth rate of the segment.

Food service providers like catering companies, restaurants, and cafes are increasingly adopting food-based menus to cater to the growing preferences of consumers. An increasing number of people are adopting vegan & vegetarian diets and, therefore, looking forward to healthier alternatives to traditional eggs.

Food service providers are innovating with popular dishes like scrambled eggs, omelets, quiches, and baked goods. Additionally, people are becoming more health conscious and therefore opting for plant-based diets to lower the saturated fat and cholesterol content in their diets.

Moreover, food service providers and consumers together prioritize sustainability. Vegan eggs have lower carbon footprints than conventional eggs because it is a natural resource. Therefore, such a landscape encourages people to opt for vegan eggs rather than traditional eggs.

By Nature Insights

On the basis of nature, the market can be segmented into conventional and organic. The conventional segment is likely to dominate the global vegan egg market during the forecast period. The major reason behind the high growth rate of the segment is the cost consideration. Conventional eggs are priced more affordable as compared to organic alternatives. Moreover, the easy availability and accessibility of conventional vegan eggs further contribute to the high growth rate of the segment.

The supply chain efficiency of conventional eggs further attracts consumers and service providers. It is largely because of lower production costs, streamlined supply chains, and many other factors. Conventional vegan products already have established a market presence and, therefore, enjoy consumer loyalty. Established distribution networks offer brand visibility, which further gives them a competitive edge over other alternatives in the market.

By Product Type Insights

On the basis of product type, the market can be segmented into liquid and powder. The powder segment accounts for the largest share of the vegan egg industry. The powdered segment offers high convenience and longer shelf stability when compared to other alternatives in the market. These can be easily stored at room temperature which makes it easy for retailers and consumers who look forward to the pantry stable products. Powder formulations are versatile in nature because they can be easily used in diverse applications like cooking, baking, and many others.

It is highly used in muffins, cakes, cookies, and many other baked goods. The powdered vegan eggs are easy to transport and store because of their light weight and ease of handling. Its powder formulation reduces storage space requirements and shipping costs, which further encourages growth in the segment. Moreover, these products offer consistent quality and performance which helps food service providers do their work easily with precise ingredient ratios.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global vegan egg market during the forecast period. The region is likely to see a rise in demand for plant-based food like vegan eggs in the coming years. The rising demand is due to the growing environmental concerns, health consciousness, and sustainability concerns. People in the region are lowering their consumption of animal-based foods. Also, people are adopting cholesterol, free nutrition, and alternative eggs because of the increasing incidence of cardiovascular diseases.

Additionally, the region is excelling in the field of innovation. Food developers, manufacturers, and chefs are coming up with unique plant-based products to swipe a larger market area. The easy availability of vegan products on different distribution channels like supermarkets and online platforms is further widening the scope of the regional market during the forecast period. Also, the regulatory framework in the region promotes the marketing and approval of plant-based products. Therefore, such a landscape is expected to foster growth opportunities in the regional market in the coming years.

Asia-Pacific is another major reason expected to witness a heavy growth rate in the coming years. The rising disposable income of people in the region is one of the major reasons boosting the growth of the regional market. People in the region are willing to spend on healthier and premium food options.

Additionally, the availability of products in all the retail channels is further likely to boost sales in the region. Food manufacturers in the region are investing in research and development to come up with more improved products, formulations, and flavors.

Such a landscape is expected to accentuate the demand for vegan eggs in the region in the coming years. For instance, METRO launched the ‘NoPoKPoK’ vegan egg roll in February 2023. The product line offers diverse uses as it can be used as a topping, salad, and many others. The company is a Germany-based firm.

Competitive Analysis

The key players in the global vegan egg market include:

• Atlantic Natural Foods
• Le Papondu
• Grupo Mantiqueira
• Noblegen Inc.
• Lovely Day Foods GmbH
• ProVeg International
• Orgran Foods
• EVO Foods
• Bob’s Red Mill Natural Foods Inc.
• Glanbia PLC
• Eat Just Inc.
• Vezlay Foods Private Limited
• Now Foods
• Follow Your Heart

For instance, Shukran Foods came up with a 100% vegan egg substitute in January 2023, especially for the hospitality and food service sector. It is a Spain-based food firm which has a major ingredient as chickpeas.

The global vegan egg market is segmented as follows:

By End-User Applications Segment Analysis

• Food Service Providers
• Food Processing Industry
• Residential
• Others

By Nature Segment Analysis

• Conventional
• Organic

By Product Types Segment Analysis

• Liquid
• Powder

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