The Vegan Eggs Market to grow by USD 910.56 million from 2022 to 2027 | The growing popularity of plant-based products to boost market growth - Technavio
NEW YORK, Sept. 3, 2023 /PRNewswire/ -- The vegan eggs market is estimated to grow at a CAGR of 8.28% between 2022 and 2027. The market size is forecast to increase by USD 910.56 million, according to Technavio - The growing popularity of plant-based products is a key factor driving market growth. The popularity of vegan eggs has increased as individuals accept plant-based egg alternatives for health, environmental, and ethical reasons. The growing demand for vegan eggs is due to a variety of factors, including health and environmental consciousness, ethical considerations for animals, and the search for new food options. In addition, along with the nutritional benefits, vegan eggs are free of cholesterol and saturated fat, helping with heart health issues. Hence, these factors are expected to drive market growth during the forecast period. Request a sample report
Vegan Eggs Market – Company Analysis
Company Landscape - The vegan eggs market is fragmented, with the presence of several global as well as regional companies. A few prominent companies that offer vegan eggs in the market are Evo Foodtech Pvt. Ltd., Eat Just Inc., Bobs Red Mill Natural Foods Inc., ORGRAN, Lovely Day Foods GmbH, PlantMade, Ener G Foods Inc., Simply Eggless Inc., Hodo Inc., Atlantic Natural Foods Inc., Neggst Food GmbH, PLANT B GMBH, Yo Egg, Noblegen Inc, VEZLAY FOODS PVT. LTD., CULTURED FOODS Sp z o o, Alternative Foods, Eggcitables, and others.
Company Offerings -
- Eat Just Inc. - The company offers vegan eggs such as The Neat eggs which are used in cakes, brownies, cookies, muffins and so much more.
- Bobs Red Mill Natural Foods Inc - The company offers vegan eggs such as gluten-free egg replacer, which is a simple, clean, and easy-to-use vegan baking essential.
- Ener G Foods Inc. - The company offers vegan eggs such as Ener G Brown rice loaf, Ener G white loaf, and Ener G rice starch loaf.
- For details on the company and its offerings – Request a sample report
Vegan Eggs Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on distribution channel (offline and online), type (liquid, powder, and egg-shaped), and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
- The market share growth in the offline segment will be significant during the forecast period. This is mainly due to the popularity of ordering products in physical grocery stores compared to online retailers. In stores, products are strategically placed near regular products to increase consumer appeal and expand customer base. Furthermore, the brick-and-mortar stores give consumers greater confidence, allowing them to test products before they buy. Marketplace sellers also favor partnerships with retailers to enhance product visibility. Hence, these factors are expected to drive segment growth during the forecast period.
Geography Overview
By geography, the vegan eggs market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global vegan eggs market.
- North America is estimated to contribute 42% to the growth of the global market during the forecast period. Several factors are driving this expansion, including concerns about animal welfare, the environmental impact of animal farming, and the health benefits of plant-based eating habits. The US, Canada, and Mexico are the key countries to the adoption of vegan products in the region. In addition, the expanding vegan population and increasing awareness of the benefits associated with a vegan diet are fueling the vegan egg market in the region. Hence, these factors are expected to drive market growth in the region during the forecast period.
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report
Vegan Eggs Market – Market Dynamics
Significant Challenge
Stringent rules and regulations are a significant challenge restricting market growth. Different countries are governed by separate standards, which require market participants to comply with their respective regulatory standards. For example, in India, the Food Safety Administration issued guidance in 2022 for food business operators to apply for vegan logo approval, in line with food safety regulations. food and food standards (vegan food). This ensures compliance with specific standards set by the authorities in each region. Hence, these stringent regulations on labeling and production are expected to restrict market growth during the forecast period.
What are the key data covered in this Vegan Eggs Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the vegan eggs market between 2023 and 2027
- Precise estimation of the size of the vegan eggs market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the vegan eggs market across North America, Europe, APAC, South America, and the Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of vegan eggs market companies
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Related Reports
The vegan food market is estimated to grow at a CAGR of 12.07% between 2022 and 2027. The market size is forecast to increase by USD 20,034.3 million. This vegan food market report extensively covers market segmentation by distribution channel (offline and online), product (dairy alternative, meat alternative, and eggs and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). Growing number of vegan consumers is the key factor driving the growth of the market.
The vegan cheese market is estimated to grow at a CAGR of 7.97% between 2022 and 2027. The market size is forecast to increase by USD 1,267.56 million. This vegan cheese market report extensively covers market segmentation by source (soy milk, almond milk, rice milk, and others), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). The increasing number of organized outlets is notably driving the market growth.
Vegan Eggs Market Scope |
|
Report Coverage |
Details |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.28% |
Market growth 2023-2027 |
USD 910.56 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
7.92 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, China, Germany, UK, Canada, Mexico, Italy, Spain, India, Japan, Australia, and South Korea |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Evo Foodtech Pvt. Ltd., Eat Just Inc., Bobs Red Mill Natural Foods Inc., ORGRAN, Lovely Day Foods GmbH, PlantMade, Ener G Foods Inc., Simply Eggless Inc., Hodo Inc., Atlantic Natural Foods Inc., Neggst Food GmbH, PLANT B GMBH, Yo Egg, Noblegen Inc, VEZLAY FOODS PVT. LTD., CULTURED FOODS Sp z o o, Alternative Foods, and Eggcitables |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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