Selbyville, Delaware, March 06, 2024 (GLOBE NEWSWIRE) --
Plant-based Eggs Market valuation is estimated to cross USD 679.3 million by 2032, as reported in a research study by Global Market Insights Inc.
The expanding vegan and vegetarian population worldwide is expected to boost the market growth. The growing number of individuals adopting plant-based lifestyles for ethical, health, and environmental reasons are surging the demand for cruelty-free egg alternatives. Plant-based eggs offer a versatile and nutritious solution, reflecting the taste and functionality of traditional eggs without animal products. According to a recent survey, the number of vegans in the U.K. grew by 1.1 million between 2023 and 2024. Several manufacturers are responding with a variety of plant-based egg products for catering to the preferences of this growing consumer base, thereby augmenting the industry outlook. For instance, UOBO, a Barcelona-based firm, launched a liquid plant-based egg for food service in a 1-liter bottled version for the Spanish industry.
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Plant-based eggs market from the algae-based source segment is projected to witness notable demand from 2024-2032. Algae-based eggs, derived from nutrient-rich microalgae, offer a sustainable and nutritionally dense alternative to traditional eggs. Their high protein content, omega-3 fatty acids, and vitamins make them attractive to health-conscious consumers. Moreover, the rapid growth rate and minimal environmental footprint offered by algae align with eco-friendly food choices. With the rising consumer demand for plant-based options that mimic the taste and texture of conventional eggs, algae-based products are set to garner prominence in cooking and baking to offer versatility.
Plant-based eggs market is anticipated to witness high demand from the food processing application segment from 2024 to 2032, owing to its widespread application in food products, including baked goods, sauces, dressings, and ready-to-eat meals. With food manufacturers striving to meet the rising demand for plant-based alternatives, plant-based egg products derived from plants like peas, soy, and chickpeas have emerged as versatile ingredients to offer a cruelty-free, cholesterol-free, and sustainable food processing. Robust ability to provide texture, binding properties, and nutritional value along with the increasing demand for creating delicious, plant-based versions of traditional foods will contribute to the segment growth.
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Europe plant-based eggs market is predicted to exhibit robust growth between 2024 and 2032, fueled by shifting consumer preferences towards sustainable, cruelty-free, and healthier food options. Increased awareness about animal welfare, environmental concerns, and personal health across the region is propelling the demand for plant-based alternatives. Additionally, European consumers are embracing plant-based eggs for their cholesterol-free composition, sustainability benefits, and versatile culinary applications. The vibrant food culture and emphasis on innovation in the food industry are also providing potential growth opportunities to the market players.
In April 2023, Schouten Europe, a renowned developer of plant-based meat and fish substitutes, launched its latest innovation: a plant-based egg white that tastes and looks like animal chicken egg white.
Some of the leading companies in the plant-based eggs market are Good Catch Foods, Moving Mountains Foods, Blue Horizon Corporation, Nestlé S.A., Sunfed Meats, Clara Foods, Eat Just, Inc., Zero Egg, Daiya Foods Inc., Califia Farms, Greenwise Co., Ltd., The Vegetarian Butcher, and Oatly AB. These market players are focusing on developing new products, strategic partnerships, and marketing campaigns for promoting the benefits of cruelty-free, sustainable, and nutritious alternatives. For instance, in June 2023, Plantible Foods, a firm that extracts a highly efficient protein from an aquatic plant lemna, established a 140-acre lemna farm in Texas and debuted its first product, Rubi Whisk, a plant-based egg replacer to outperform eggs in many applications.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Plant-based Eggs market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Source trends
2.5 Form trends
2.6 End-use application trends
2.7 Distribution channel trends
Chapter 3 Plant-based Eggs Market Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Merger/Acquisition
3.6.3 Investment
3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rising vegan and vegetarian populations
3.8.1.2 Growing availability of plant-based egg products
3.8.1.3 Health and wellness trends
3.8.2 Industry pitfalls & challenges
3.8.2.1 Lack of awareness
3.8.2.2 Competition from other plant-based proteins
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
