The global vegan egg market size is expected to reach a market valuation of USD 1,973 million in 2023, accelerating at a CAGR of 6% from 2023 to 2033. By 2033, the market is expected to generate market value of USD 3,494.7 million. Vegan egg sales currently account for more than 2.9% of the global egg market in terms of value.
Key Drivers for the Market are:
| Attribute | Details |
|---|---|
| Vegan Egg Market Size (2018H) | USD 1,554.0 million |
| Vegan Egg Market Size (2022H) | USD 1,897.00 million |
| Vegan Egg Market Size (2023E) | USD 1,973 million |
| Vegan Egg Market Projected Size (2033F) | USD 3,494.7 million |
| Value CAGR (2023 to 2033) | 6% |
| Top 3 Countries' Market Share | 39.6% |
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Vegan egg sales recorded a CAGR of 5.1% between 2018 to 2022. The period marked the entry of various market players and product innovations.
The increasing demand for vegan processed foods is fueling the expansion of the vegan egg substitute business. Furthermore, rising allergenicity increased awareness of environmental sustainability, and the trend of consumers toward vegan diets are all aspects that are positively driving the market growth.
Secondary drivers such as enhanced shelf life compared to eggs, as well as rising egg prices due to increasing poultry diseases have an impact on the industry. Furthermore, vegan egg substitutes have the potential to replace eggs in a variety of foods. Including cakes, biscuits, mayonnaise, muffins, noodles, and more.
Over the forecast period, the vegan egg industry is pegged to achieve USD 3,494.7 million by 2033. At present, the market is estimated to stand at USD 1,973 million in 2023. From 2023 to 2033, the market is expected to register a CAGR of 6%.
As a result of increasing food safety concerns about the use of antibiotics and hormones in poultry products, consumers are turning to plant-based foods. Consequently, they've begun to substitute regular poultry products with plant-based alternatives such as plant-based or vegan eggs.
According to a survey conducted by The Humane Society of the USA (HSUS), the demand for animal products produced without the use of antibiotics or hormones is on the rise. Antibiotics and hormones are becoming increasingly commonly used, which may have negative health implications for humans and animals.
As a result, several food companies are implementing plans to phase out or minimize the use of one or both of these ingredients in their supply chains. Moreover, numerous companies are switching to plant-based alternatives.
Rising Demand for Vegan Egg in Germany to be Registered by 2033
| Region | Germany |
|---|---|
| Market Share % 2022 | 16.5% |
| Market Size (USD million) by 2023 | USD 325.54 million |
| Market Size (USD million) by End of Forecast Period (2033) | USD 576.62 million |
Due to the rising demand for vegan bakery products, the market in Europe is expected to develop at a substantial pace over the forecast period. In 2023, the German vegan egg business is expected to command a market share of more than 17.7% percent in Europe.
Meanwhile, in Europe, as is in the United States and Canada, health and fitness spending is projected to continue to drive the demand for vegan eggs.
Vegan eggs are gaining popularity in Germany and across Europe. Due to ranging uses from healthy snacks and beverages to plant-based treats like veggie burgers and meat alternatives.
As a result of tight government rules against animal cruelty, consumers are becoming more aware of the detrimental environmental impact of food obtained from animals. Because the most visited countries in Europe are Italy, Germany, and France, vegan eggs can be sold as packaged foods for on-the-go consumption.
Urbanization in China to Aid Vegan Egg Sales Growth
| Country | China |
|---|---|
| CAGR % (2023 to 2033) | 7.8% |
The vegan eggs industry is predicted to have a CAGR of 7.8% from 2023 to 2033 in China. Whereas consumption of vegan eggs in Japan is expected to increase at a lucrative percentage over the projection period.
China's rising urbanization and industrialization have resulted in consumers' hectic and chaotic lifestyles. This fast-paced lifestyle has resulted in new eating habits that deviate from the traditional three-square dinner table meals.
Consumers are turning to round-the-clock snacking when hunger hits. They are, on the other hand, growing more aware of their snacking habits. They are opting for healthier snacks with natural and nutritious ingredients, as well as free-from claims and labeling that are beneficial to their health.
India to Hold Significant Share in South Asia Market
| Country | India |
|---|---|
| CAGR % (2023 to 2033) | 6.7% |
India is estimated to account for a significant market share in South Asia in 2022, while demand for organic vegan eggs in Thailand is predicted to expand at a substantial CAGR over the forecast period. The rise of the Indian market is being fueled by increased commerce of vegan eggs such as frozen vegan eggs, liquid egg whites, and refrigerated vegan eggs in South Asian countries.
Convenience Offered Facilitating Powdered Vegan Eggs Sales
| Segment | Powder |
|---|---|
| Market Share (2022) | 39% |
| Market Size (2023) | USD 769.47 million |
| Market Size (2033) | USD 1,362.93 million |
According to FMI, powdered vegan eggs are anticipated to witness a lucrative growth rate of CAGR 7.4% over the forecast period. Owing to the rising vegan trend and increased convenience.
Vegan powdered eggs are convenient for preparing practically any egg-containing recipe. Such as scrambled eggs and casseroles because they can be kept for lengthy periods while retaining the same nutrients as fresh eggs. Liquid eggs are generally more expensive than powdered eggs.
In 2022, conventional vegan eggs accounted for 78% of the global market, while demand for organic is expected to rise at a CAGR of 13.3% over the forecast period.
Increased demand for organic products from both, developed and developing nations, is boosting the growth of the global market. Organic food has been increasing in demand as it is considered healthier and better for immunity. Organically produced vegan eggs accounted for 22% in 2022. By the end of 2033, the market is projected to attain USD 768.83 million.
| Segment | Organic |
|---|---|
| Market Share (2022) | 22% |
| Market Size (2023) | USD 434.06 million |
| Market Size (2033) | USD 768.83 million |
The vegan egg market is highly fragmented with several enterprises competing for a piece of the action. Packaging is important in the Vegan Egg sector since it adds value to the product's quality and appearance.
Vegan eggs extend the shelf life of their products by using proper packaging techniques. Eye-catching packaging can attract several customers, resulting in increased demand for vegan egg products.
To comply with environmental laws and appeal to ecologically sensitive consumers, top vegan egg companies are also focusing on biodegradable packaging. Because technical progress in packing methods improves product quality to a greater extent, product sales can be considerably improved.
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Key Players in the Vegan Egg Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million/ billion for Value and Metric Ton for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, the United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others. |
| Key Segments Covered | Nature, Product Type, End-use Application, and Region |
| Key Companies Profiled | EVO Foods; Mantiqueira (N.Ovo); JUST Inc.; Orgran Foods; Terra Vegane; Free and Easy; Follow Your Heart; The Vegg; Vezlay Foods Private Limited; Now Foods; Others (on additional request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The vegan egg market is valued at USD 1,973 million in 2023.
The vegan egg market will thrive at a 6% CAGR through 2033.
Vegan egg sales account for more than 2.9% of the global egg market in terms of value.
Germany held 16.5% of the global vegan egg market shares in 2022.
The vegan egg market size is likely to reach USD 3,494.7 million by 2033.
| Market Size, 2024 | USD 18,943.20 million |
|---|---|
| Market Size, 2034 | USD 28,198.30 million |
| Value CAGR (2024 to 2034) | 4.1% |
| Expected Market Value in 2023 | USD 9,021 million |
|---|---|
| Anticipated Forecast Value in 2033 | USD 14,406.1 million |
| Growth Rate (2023 to 2033) | 4.8% CAGR |
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