Dublin, April 13, 2022 (GLOBE NEWSWIRE) -- The "Plant-Based Eggs Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The plant-based eggs market is projected to witness a CAGR of 21.82% during the forecast period to reach a market size of US$2,621.602 million by 2026, increasing from US$658.471 million in 2019.
Plant-based eggs are an alternative to a regular egg which consists of legumes as the major ingredient and is a source of clean protein. The extracted proteins are processed in the texture of eggs. It is a staple source of nutrition for the vegan-based diet. They are versatile in use and are popularly used in vegan food services.
Market Drivers
The current dietary trends of veganism and flexitarians along with the decrease in animal protein consumption are some key drivers of the plant-based egg market. Adoption of a healthier lifestyle has led to an inclination towards clean, plant-based protein sources. Regular eggs are often reported to contain salmonella bacteria which causes sickness if not cooked properly. Plant-based eggs are considered safer and replicate the physical and chemical properties of regular eggs. These eggs are also easier to store and transfer as they mostly come in liquid or powder form, which is among the other reasons propelling the plant-based eggs market ahead.
By source, legumes hold the largest share in the market, though other plant sources are being experimented with. By form, liquid eggs are prevalent in the market as they are easier to cook and used by food and gastronomic enthusiasts widely. Geographically, North America dominates the plant-based eggs market due to the presence of a large number of players in the region, food safety norms, allergen reduction, easier handling & storage, & environmental sustainability.
Growth Factors
Healthy lifestyle choices
People around the world are improving their lifestyle choices as it tends to benefit them over the long run making them stronger and less prone to disease. The presence of a wide range of products and advancement in food products connected to plant-based eggs will continue to generate new opportunities for the plant-based eggs market. The risk of obesity among the younger generation has also propelled the plant-based egg market as people consciously make an effort to change their eating habits often pushed by nutritionists and dieticians and the growth of health-related web content. The influence of socialites and media personalities also aids the growth of the market significantly.
Veganism
Plant-based dietary choices are growing worldwide as it often claims to be a healthy way of life. The increasing sympathies for animals refrain people from consuming regular eggs, in turn, benefiting the plant-based egg market. As the demand increases, the market has been lucrative for investment opportunities and the entrance of new players. Additionally, the increase of the product line and distribution channel is helping the market for plant-based eggs flourish.
Restraints
While eggs are an affordable choice of protein among the population, plant-based eggs are priced at a higher value discouraging people from regular consumption. The market is thriving in first-world countries and gradually seeping into the developing nations. The highly populous middle-class section of the society still depends on eggs as their main source of protein and there has been a marginal shift to plant-based products, thus restricting the market.
Impact of COVID-19 on the Plant-Based Eggs Market
The pandemic has affected the food industry negatively due to the lack of raw materials and immobility of the factors of production on the supply side. The distribution channels also witnessed lags due to the restrictions and lockdowns imposed. But studies prompting lower risk among vegans in COVID-19 have led to a change in food habits and increased the demand marginally. Despite the pandemic US-based Just, the manufacturer of plant-based egg products is seeking expansion in China which has a huge market for plant-based products.
Competitive Insights
The market leaders in the Plant-based Eggs Market are Vegg, Conagra Brands Inc, Bob's Red Mill Natural Foods, Just, Zero Egg, Float Foods, Evo Foods, Crack'd, Orgran, Earth Island. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, to gain a competitive advantage over their competitors.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Plant-based Egg Market Analysis, By Source
5.1. Introduction
5.2. Legumes
5.3. Other plant sources
6. Plant-based Egg Market Analysis, By Form
6.1. Introduction
6.2. Liquid
6.3. Powder
7. Plant-based Egg Market Analysis, By Sales Channel
7.1. Offline
7.1.1. Supermarket
7.1.2. Convenience Store
7.1.3. Specialty Store
7.2. Online
8. Plant-based Egg Market Analysis, By Geography
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.2.4. Others
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. United Kingdom
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. Israel
8.5.3. Others
8.6. Asia Pacific
8.6.1. Japan
8.6.2. China
8.6.3. India
8.6.4. Indonesia
8.6.5. Taiwan
8.6.6. Thailand
8.6.7. Others
9. Competitive Intelligence
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Vegg
10.2. Conagra Brands Inc
10.3. Bob's Red Mill Natural Foods
10.4. Just
10.5. Zero Egg
10.6. Float Foods
10.7. Evo Foods
10.8. Crack'd
10.9. Orgran
10.10. Earth Island
For more information about this report visit https://www.researchandmarkets.com/r/kyaf6a
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