Plant-based Eggs Market Analysis

Plant-based Eggs Market Analysis

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  Based on source, the market is segmented as legumes, grains, seeds, algae-based, and others. Legumes held a majority market value of USD 45.2 Million in 2022. Plant-based eggs are made mostly from legumes such as chickpeas, mung beans, and lentils. With a protein content and texture like typical eggs, these legumes serve as the foundation for several inventive egg replacements on the market. Manufacturers offer sustainable and nutritious plant-based egg products that appeal to the growing customer demand for ecologically friendly and healthy alternatives to conventional animal-based eggs by leveraging the diversity of legumes.
 

Based on form, the plant-based eggs market is segmented as liquid, powder, and others. Liquid held a dominant business share of around 40.2% in 2022 and is expected to grow at a lucrative pace by 2032. The convenience factor and diversity in food preparation are driving the demand for liquid form plant-based eggs. As more people choose plant-based diets, the liquid form of plant-based eggs provides a useful alternative to traditional liquid eggs in a variety of culinary applications. This demand is increased by the ease with which it can be included into recipes, making it appropriate for a wide range of foods, from baking to omelets, and coinciding with the rising flexitarian and vegan customer base.

Based on end-use application, the market is segmented as bakery and confectionery, food processing, foodservice, household, and others. Bakery and confectionery held a majority market value of USD 43.9 Million in 2022. The baking and confectionery industries are seeing an increase in demand for plant-based eggs as customers seek healthier and more sustainable options in their baked goods and confectionary items. Plant-based eggs prepared from chickpeas, flaxseeds, or aquafaba are used as binding and leavening agents in recipes, decreasing the need for regular eggs. This trend is being pushed by a mix of health consciousness, dietary restrictions, and a desire to lessen the environmental effect of food production, which has made plant-based eggs a favored choice for both producers and customers in the baking and confectionery sector.
 

Based on distribution channel, the plant-based eggs market is supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. supermarkets and hypermarkets held a majority market value of USD 46.3 Million in 2022. The growing consumer awareness and acceptance of plant-based diets is driving the demand for plant-based eggs in supermarkets and hypermarkets. Supermarkets and hypermarkets are extending their product choices to appeal to this rising trend as more people seek healthier and more sustainable food options. The ease and accessibility of these retail venues, as well as the range of plant-based egg products offered, make switching to these alternatives simpler for customers.
 

North America plant-based eggs market exceeded USD 50.1 million in 2022 and is anticipated to expand at a significant pace from 2023-2032. The North American plant-based egg industry has experienced strong demand, fueled mostly by the region's rising health-conscious consumer base, as well as increased concerns about animal welfare and environmental sustainability. The acceptance of plant-based egg substitutes is being driven by an increase in vegan and vegetarian lifestyles, as well as an increase in flexitarian diets. North American consumers are increasingly seeking healthier and more sustainable protein sources, which has resulted in an explosion of novel plant-based egg products that resemble the flavor and texture of regular eggs, boosting market size in the region.