PUNE,
India, July 25, 2024 /PRNewswire/ -- Vegan Egg
Market was valued at USD 1.92 Bn
in 2023 and is expected to grow at 8.4 percent CAGR through the
forecast period by reaching nearly USD
3.38 according to Stellar Market Research
report. People are switching to plant-based diets on account
of ethical concerns about animal suffering, which contributes to
increased vegan eggs demand. They are looking for cruelty-free
alternatives because of the frequent criticism of the circumstances
used to keep laying hens in traditional egg production. Vegan eggs
provide an ethical option that aligns with these values and
eliminates the use of animals in their production.
Global Vegan Egg Market 2023-2030: Key Highlights:
Market Volume in
2023
|
1.92 Bn
|
Market Volume in
2030
|
3.38 Bn
|
CAGR
|
8.4 Percent
|
Forecast
Period
|
2024-2030
|
Base
Year
|
2023
|
Number of
Pages
|
229
|
No. of
Tables
|
138
|
No. of Charts and
Figures
|
193
|
Segment
Covered
|
By Product Type,
Nature, and End-Use Industry
|
Regional
Scope
|
North America, Europe,
Asia Pacific, Middle East and Africa, South America
|
Report
Coverage
|
Market Share, Volume,
and Forecast by Revenue | 2024−2030, Market Dynamics, Growth
Drivers, Restraints, Investment Opportunities, and Key Trends,
Competitive Landscape, Key Players Benchmarking, Competitive
Analysis, MMR Competition Matrix, Competitive Leadership Mapping,
Global Key Players' Market Ranking Analysis.
|
Get your Sample
PDF:https://www.stellarmr.com/report/req_sample/Vegan-Egg-Market/2086
- Past Market Size and Competitive Landscape (2018 to 2022)
- Market Size, Share, Size & Forecast by Different
Segment | 2024−2030
- Vegan Egg Market Dynamics – Growth Drivers, Restraints,
Opportunities, and Key Trends by Region
- Vegan Egg Market Segmentation – A detailed analysis By Product
Type, Nature, End-Use Industry, and Region
- Competitive Landscape – Profiles of selected key players by
region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers,
Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER's analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Vegan Egg Market Segmentation Overview
The Liquid Segment is expected to dominate during the
forecast period
In 2023, the Liquid Segment dominated the vegan egg market and
is expected to continue its dominance during the forecast period.
Liquid vegan eggs are gaining popularity among consumers due to
their ease of use in both baking and cooking, appealing to both
home cooks and professional chefs alike. According to SMR, about
65% of consumers prefer liquid vegan eggs over powdered or shelled
options. The rise of plant-based diets is contributing to this
trend, with a 45% increase in sales of plant-based food in 2023.
Major brands like JUST Egg are experiencing significant growth in
the liquid vegan egg market, owning more than 99% of the
plant-based egg market. This growth is supported by the nutritional
value of liquid vegan eggs, which often contain similar or higher
protein content compared to traditional eggs. For example, JUST Egg
offers around 5 grams of protein per serving, similar to
conventional eggs. Additionally, the liquid vegan egg segment
growth is driven by its appeal to environmentally conscious
consumers, as it typically requires 77% less water and emits 40%
fewer greenhouse gases during production than traditional eggs.
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Report:https://www.stellarmr.com/report/req_sample/Vegan-Egg-Market/2086
The Retail/Household Segment is expected to be the
fastest-growing during the forecast period
The Retail/Household Segment is experiencing rapid growth due to
the increasing consumer awareness and the surging popularity of
plant-based diets. According to SMR, in 2023 39% of households in
the United States are now
regularly purchasing plant-based alternatives. The availability of
these products in retail stores has played a significant role in
their growth, as consumers look for convenient and healthy options
to traditional animal products. Vegan eggs provide health benefits,
such as being cholesterol-free and lower in saturated fats. A study
published in the Journal of Nutrition & Food Sciences revealed
that regular consumption of plant-based foods, including vegan
eggs, is linked to a 25% decrease in the risk of cardiovascular
diseases. The retail market is witnessing advancements in packaging
and product development, making vegan eggs more user-friendly and
attractive. For example, liquid vegan eggs are offered in
easy-to-pour bottles, while powdered versions provide a longer
shelf life and convenience. Manufacturers are dedicating resources
to research and development to enhance product quality and variety,
while retailers are growing their vegan product offerings to meet
the growing demand.
Detailed segmentation values for each segment and
explanations for growth are provided in the final report.
Europe is expected to be a
significant during the forecast period
Europe is expected hold a
significant position on the vegan egg market during the forecast
period due to the increasing focus on health, environmental issues,
and supportive regulations. With a population of 748 million,
Europe is witnessing a growing
interest in plant-based diets, with around 10% of the population
recognizing as vegetarians or vegans. Additionally, in countries
like Germany about 44% of Germans
have actively reduced their meat consumption in recent years. The
European Union's strict regulations on animal welfare and the
environment are driving the shift towards vegan alternatives.
Almost 94% of Europeans are concerned about animal welfare, in line
with the EU's Farm to Fork Strategy promoting sustainable food
systems. The availability of vegan products in major supermarket
chains like Tesco and Carrefour is making it easier for consumers
to access these products. Also, the hospitality sector in
Europe with over 200,000 hotels is
catering to the increasing demand for vegan-friendly options.
Competitive landscape
The Vegan Egg market is highly competitive with the key players
including Mantiqueira (N.Ovo), JUST Inc., Orgran Foods, Terra
Vegane, Free and Easy, Follow Your Heart, The Vegg among
others.
Browse Adjacent Market Research Reports: Food &
Beverage Market Reports & Consulting:
Plant Based Protein Market: The market size was
valued at USD 14.88 Bn. in 2023 and
the total Plant Based Protein Market size is expected to grow at a
CAGR of 7.83% from 2024 to 2030, reaching nearly USD 25.22 Bn. by 2030.
Plant-based beverages Market: The market size
was valued at US$ 19.39 Bn. in 2023.
The global Plant-based Beverage Market is estimated to grow at a
CAGR of 12.2% over the forecast period.
Vegan Food Market: The market size was valued at
US$ 18.44 Bn in 2023. Global Vegan
Food Market is estimated to grow at a CAGR of 9.2% over the
forecast period.
Vegan Supplements Market: The market size was
valued at USD 9.45 Bn. in 2023 and
the total Global Vegan Supplements revenue is expected to grow at a
CAGR of 7.64% from 2024 to 2030, reaching nearly USD 15.82 Bn. by 2030.
Plant-Based Burger and Patties Market: The market
size Was Valued at USD 4.98 Bn. in
2023 and the total Plant Based Burger and Patties revenue is
expected to grow at a CAGR Of 15.7% from 2024 to 2030, reaching
nearly USD 13.82 Bn. by 2030.
Vegan butter market: The market is expected to
grow at a CAGR of 5.7% during the forecast period. The Vegan butter
market is expected to reach US$ 4.42
Bn in 2030 from US$ 3.00 Bn in
2023.
Organic Spice Market: The market size was valued
at USD 34.88 Bn in 2023 and is
expected to reach USD 59.35 Bn by
2030, at a CAGR of 7.2%.
About Stellar Market Research:
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of the industries we cover include medical devices, pharmaceutical
manufacturers, science and engineering, electronic components,
industrial equipment, technology and communication, cars and
automobiles, chemical products and substances, general merchandise,
beverages, personal care, and automated systems.
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SOURCE Stellar Market Research