The global Plant-Based Eggs Market is expected to be valued at USD 122.8 million in 2023 and to reach a valuation of USD 684.3 million by 2033. The demand for plant-based eggs is estimated to grow at a steady 18.7% CAGR, with the United Kingdom, the USA, China, and India emerging as key producers.
Plant-based eggs market is growing rapidly. Here are some key trends shaping the market growth:
| Attributes | Details |
|---|---|
| Plant-Based Eggs Market CAGR (2023 to 2033) | 18.7% |
| Plant-Based Eggs Market Size (2023) | USD 122.8 million |
| Plant-Based Eggs Market Size (2033) | USD 684.3 million |
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The global demand for plant-based eggs grew at a CAGR of 11.1% between 2016 and 2022, and it's expected to expand at a CAGR of 18.7% between 2023 and 2033. The growth potential of the sales of plant-based eggs could be looked at from short-term, mid-term, and long-term perspectives.
| Short-Term Outlook (2023 to 2025) | Consumers are becoming more conscious of the food choices they make, and are looking for options that align with their values, such as animal welfare, environmental sustainability, and health. Plant-based eggs tick all these boxes. |
|---|---|
| Mid-Term Outlook (2025 to 2028) | The availability of plant-based eggs through various distribution channels, such as supermarkets, online retail, and restaurants, is expected to drive market growth in the midterm. |
| Long-Term Outlook (2028 to 2032) | With the increasing popularity of plant-based products, investors are showing more interest in investing in the industry, which is expected to drive the sales of plant-based eggs in the long term. |
Increasing worries about global warming and the environment are propelling the industry worldwide. About 60% of the greenhouse gas emissions from food production may be traced back to the meat and animal products industry.
According to a new scientific investigation, animal-based diets contribute twice as much to environmental degradation than plant-based foods do. Since deforestation makes more space and resources accessible for grazing and animal rearing, it has a more negative impact on the climate than planting trees would.
The industry is predicted to grow as a result of people's growing awareness of climate change and the subsequent trend toward plant-based diets.
The introduction of innovative products, rising consumer interest, and official stamps of approval from safety regulators are also significant contributors to the development of the sector. In April 2022, for instance, news emerged that the European Commission had sanctioned Eat Just's vegan mung bean egg.
It was compiled and submitted to the EFSA and the Commission with the help of Analyze and Realize GmbH, with which Eat Just partnered. Following this approval, the corporation is expected to begin expanding into European countries.
And in March of 2022, the Berlin-based company Perfeggt stated that it would be expanding sales of its vegan egg substitute to the United Kingdom, Austria, and Switzerland.
Despite the drivers, the demand for plant-based eggs is being hampered due to two key restraints:
High Cost: Plant-based eggs are generally more expensive than traditional eggs, which can be a restraint for some consumers who may not be able to afford them.
Limited Availability: Plant-based eggs are not yet widely available in all regions, and this can be a restraint for consumers who live in areas where these products are not easily accessible.
The growing popularity of plant-based food in the USA is driven by a combination of health, environmental, economic, technological, and lifestyle changes and changing consumer preferences factors.
The plant-based food industry in the USA is rapidly growing, with new companies and products entering the market, and established companies expanding their offerings. As more US consumers become aware of the benefits of plant-based eggs, the market for these products is expected to continue to grow in the coming years.
Additionally, the increase in demand for plant-based foods has led to more retailers and restaurants offering these options, making them more widely available and accessible to consumers.
Top Companies in the USA Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 11.1% |
|---|---|
| United Kingdom Plant-Based Eggs Market Share | 9.5% |
| United Kingdom Plant-Based Eggs Market Valuation (2022) | USD 138.2 million |
| United Kingdom Plant-Based Eggs Market Valuation (2033) | USD 438.1 million |
Climate change and other environmental concerns are driving more people in the United Kingdom to adopt plant-based diets and choose eco-friendly products.
The United Kingdom has been a leader in the fight against climate change and people are becoming more aware of the impacts of animal agriculture on the environment, and are looking for more sustainable food options. Plant-based eggs have a much lower environmental impact than traditional eggs, and this is becoming a key consideration for United Kingdom consumers.
Plant-based eggs are often less expensive than traditional eggs, making them accessible to a wider range of people in the United Kingdom. With the increasing popularity of plant-based foods in the United Kingdom, more companies are entering the plant-based eggs industry, increasing competition and driving prices down.
Top Companies in the United Kingdom Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 9.3% |
|---|---|
| China Plant-Based Eggs Market Share | 8.1% |
| China Plant-Based Eggs Market Valuation (2022) | USD 117.87 million |
| China Plant-Based Eggs Market Valuation (2033) | USD 313.9 million |
The advancements in technology and research have led to the development of plant-based egg substitutes that mimic the taste and texture of traditional eggs, making them more appealing to Chinese consumers.
Many companies in China are using new and innovative ingredients, such as peas, soy, and legumes, to create more realistic and delicious plant-based egg products.
Additionally, companies are investing in research and development to create plant-based eggs that can be used in a variety of dishes, such as scrambled eggs, omelets, and fried eggs, making them more versatile and appealing to Chinese consumers.
A small percentage of the Chinese population follows Buddhism and vegetarianism, plant-based eggs provide a good alternative to eggs that come from chickens.
Top Companies in the China Plant-Based Eggs Industry
| CAGR (2023 to 2033) | 10.4% |
|---|---|
| India Plant-Based Eggs Market Share | 3.3% |
| India Plant-Based Eggs Market Valuation (2022) | USD 48 million |
| India Plant-Based Eggs Market Valuation (2033) | USD 142.6 million |
There is an increasing awareness in India about the health benefits of plant-based foods, and many people are turning to vegan options, such as plant-based eggs, as a healthier alternative to traditional animal-based products.
Many people in India are vegetarian for religious and cultural reasons, and plant-based eggs provide a good alternative to eggs that come from chickens. The government of India is promoting the plant-based food industry and providing support to the companies in terms of finances and other resources, which is helping the industry to grow.
Top Companies in the Indian Plant-Based Eggs Industry
| Segment | Product Type |
|---|---|
| Top Sub-segment | Powder |
| Market Share | 55.6% |
| Segment | End Use |
|---|---|
| Top Sub-segment | Food Processing Industry |
| Market Share | 40.1% |
The increasing demand for plant-based products, such as plant-based eggs, is driving growth in the food processing industry. As consumers become more health conscious and environmentally aware, they are seeking out plant-based alternatives to traditional animal-based products, which is leading to an increase in the demand for plant-based eggs and other plant-based food products.
Additionally, the food processing industry is expected to benefit from technological advancements in the development of plant-based egg substitutes. The use of newer and more innovative ingredients, such as peas, soy, and legumes, is expected to drive the development of new and improved plant-based egg products.
Companies in the market are using a variety of strategies to drive growth. Some of the key strategies being adopted include:
Overall, companies in the market are adopting a variety of strategies to drive growth, increase market share, and stay competitive in the rapidly growing plant-based food industry.
The United Kingdom recorded a CAGR of 9.5% in 2022.
The United States is estimated to grow at 27.1% of share through 2033.
Tofu segment contributes a maximum share in the global market.
The food processing industry holds a maximum revenue of the global market.
From 2018 to 2022, the global market exhibited 11.1% CAGR.
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Plant Based Eggs Market
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