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The plant-based egg market is poised for significant growth as a consumer

NEWARK, DELL, Jan. 24, 2023 (GLOBE NEWSWIRE) — The plant-based egg market is expected to reach US$1,613.1 million in 2023 and US$398.45 million by 2033. With the UK, US, China, and India expected to emerge as major producers, demand for plant-based eggs stabilized and is projected to grow at a CAGR of 10.6%.

Companies are investing more in research and development to create more realistic and delicious plant-based egg products that mimic the taste and texture of traditional eggs. We are exploring new and innovative ingredients such as peas, soybeans and legumes to create more plant-based egg products.

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The rise of veganism has created new markets in favor of plant-based products.

In recent years, the number of health-conscious and vegan consumers has increased. Expansion of both product offerings and distribution options bodes well for the future growth of the market.

As one of the foods with the highest protein content, eggs are essential for maintaining adequate protein levels and the expanding fitness industry presents great opportunities for suppliers. However, it is not easy for vegans to find egg substitutes that provide the same amount of protein.Therefore, there is a lucrative plant-based egg market. More importantly, the protein content of vegan eggs is rapidly catching up with the protein content of real eggs.

important point

  • The plant-based egg market is driven by increasing health awareness, environmental concerns, economic factors, and technological advancements.
  • The market is expected to grow due to increasing number of people adopting vegetarian and vegan lifestyles, food allergies and intolerances, and government initiatives.
  • The plant-based egg market is highly competitive, with many players operating across the globe and dominated by several large players with broad product portfolios and strong distribution networks.
  • Companies focus on product innovation, research and development, strategic partnerships, marketing and advertising to raise consumer awareness and increase market share.

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competitive environment

The plant-based egg market is a highly competitive market with many players operating across the globe. The market is dominated by a small number of large companies, and there are also a significant number of small and medium enterprises. Large companies are able to dominate the market because they have strong market presence, broad product portfolios and strong distribution networks. Market leaders include Just Egg, Beyond Eggs, Follow Your Heart, The Veggie Goodness, Good Catch, Nellie’s Free-Range Eggs, Hampton Creek and Better Body.

These companies focus on product innovation, research and development, and strategic partnerships to increase their market share. Companies are also investing in marketing and advertising to raise consumer awareness and attract new customers. In addition, companies are also focusing on expanding their distribution networks and increasing their presence in new regions to increase their market share.

However, the plant-based egg market is also witnessing the entry of new players who are focused on developing innovative products and expanding their market presence through strategic partnerships and collaborations. This is expected to increase competition in the market and encourage innovation in the industry.

Main segment

Product type:

  • tofu
  • legume base
  • pea based

Distribution channel:

  • supermarket
  • grocery store
  • online

region:

  • North America
  • latin america
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa (MEA)

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table of contents

1.executive summary

1.1.Global market outlook

1.2. Demand Side Trends

1.3.Supply-side trends

1.4.technology roadmap analysis

1.5.Analysis and recommendations

2. Market overview

2.1. Market Scope/Taxonomy

2.2. MARKET DEFINITION/SCOPE/LIMITATIONS

3. Market Background

3.1. Market dynamics

3.1.1. Driver

3.1.2. Constraints

3.1.3. Opportunities

3.1.4. Trends

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Explore FMI’s extensive coverage of the food and beverage sector.

Vegan Egg Market Analysis: The global vegan egg market is expected to reach a market value of USD 1.6 billion by 2022, accelerating at a CAGR of 8.4% from 2022 to 2032.

Egg Replacer Market Size: The egg replacer market size is estimated to surpass USD 1.3 billion in 2022, growing at a CAGR of over 5.4% from 2022-2032.

Egg Replacer Ingredients Market Value: The global egg replacer ingredients market is projected to grow at a moderate CAGR of 5.8% during the forecast period.

Egg Emulsifier Market Trends: The global egg emulsifier market is expected to reach a market valuation of USD 216.2 million by 2022, growing at a CAGR of 6.5% in sales during the evaluation period.

Hydrolyzed Egg Market Forecast: The global hydrolyzed egg market is expected to reach a valuation of USD 87.2 million in 2022, accelerating at a CAGR of 8.0% during the forecast period of 2022-2032.

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