The global vegan eggs products market was valued at USD 6.3 million in 2021 and is projected to expand at a CAGR of 17.4% from 2022 to 2030. The market is driven by factors such as growing consumer awareness about the health benefits of adopting a vegan diet, increasing health concerns among consumers, and the emergence of vegan egg substitutes that are convenient to use. Additionally, the rising adoption of veganism among millennials is also driving market growth. Furthermore, the increasing demand for plant-based proteins and growing awareness about the adverse effects of egg consumption are further boosting the market for vegan eggs.

Key players are introducing new products to cater to the growing demand for vegan eggs. For instance, in October 2020, JUST, Inc. launched a vegan egg product called JUST Egg Folded. The product is made of mung bean proteins and is said to have a taste and texture similar to that of scrambled eggs. Additionally, in April 2021, Unilever introduced a vegan egg product, The Vegetarian Butcher No Egg, in the Netherlands. The product is made of a combination of soy, potato, and pea proteins, and can be used in omelets and other egg-based dishes.

The rising popularity of vegan egg products among health-conscious consumers is driving the demand for them. Moreover, the increased availability of vegan egg products in the retail and e-commerce space has further increased their popularity. For instance, in October 2020, JUST, Inc. announced its plans to expand the availability of its vegan egg product JUST Egg to over 20,000 stores across the United States. Furthermore, manufacturers are focusing on developing innovative product formulations with improved taste and texture for enhanced consumer satisfaction.

The growing demand for vegan egg products in the foodservice industry is increasing their popularity. This is because foodservice clients are increasingly demanding vegan solutions for their menus as veganism gains popularity. Furthermore, the increasing demand for vegan egg products in catering services is also driving the market growth. Additionally, the rising number of vegan restaurants is creating new opportunities for the vegan egg industry. For instance, in April 2021, the first vegan egg restaurant called Oggs opened in London, offering egg-free dishes such as omelets and scrambled eggs.

The vegan egg products segment held the largest market share in 2021. The rising popularity of veganism and the increasing awareness regarding animal welfare have been the major factors driving the growth of this segment. Furthermore, vegan egg products are available in the form of egg substitutes which are made from plant-based ingredients such as soybean, peas, lentils, and mung beans. These vegan egg products provide essential nutrients, including proteins, fatty acids, and vitamins, and are a healthier alternative to traditional eggs.

The vegan egg powder segment is expected to expand at the fastest CAGR of 10.2% over the forecast period. Vegan egg powder is a convenient and shelf-stable alternative to eggs, and it can be used in a variety of recipes. It is ideal for baking, as it can be used as an egg substitute in cakes, cookies, muffins, and other baked goods. Additionally, vegan egg powder is gaining popularity among consumers due to its easy availability, low price, and convenience.

The supermarkets and hypermarkets segment held the largest market share of over 39.8% in 2022. The growth of this segment is mainly attributed to the high availability of vegan egg products in stores and the growing consumer preference for supermarkets & hypermarkets for grocery shopping. Furthermore, supermarkets & hypermarkets also offer discounts and promotional offers on certain products to boost their sales.

The online segment is expected to register the highest CAGR of 19.3% over the forecast period. The rising penetration of internet and improvement in the online payment options have led to a rise in online shopping. Moreover, the availability of vegan egg products on various e-commerce platforms such as Amazon and Walmart is boosting the growth of this segment. Companies are also offering online exclusive discounts and promotional offers on vegan egg products to tap the online customer base.

The plant-based egg segment accounted for the largest revenue share of 76.3% in the year 2022. The rising health awareness among consumers and the increasing demand for vegan products are the key factors driving the growth of the plant-based egg segment. Also, due to the high nutritional value of plant-based eggs, they are gaining popularity among health-conscious consumers. For instance, the Just Egg, a plant-based egg substitute, is made from mung bean protein and is fortified with vitamin B12, iron, and omega 3 fatty acids. Additionally, the increasing demand for plant-based eggs in various applications such as baking and foodservice is driving the segment growth.

The animal-based egg segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The growing demand for animal-based egg products such as quail eggs and duck eggs is fuelling the growth of the segment. Additionally, the increasing application of animal-based eggs in various industries such as pharmaceuticals and cosmetics is driving the segment growth. For instance, quail eggs are used to treat skin conditions and to reduce wrinkles, while duck eggs are used as an ingredient in cosmetics due to their fatty acid content.

Europe is expected to hold the largest revenue share of the market in 2022. In Europe, the vegan eggs products market is driven by increasing demand for plant-based proteins and rising prevalence of veganism. The region is home to prominent players such as JUST, Inc., YONO, and FreeRange Foods, who are focusing on the development of vegan eggs products to meet the growing demand. For instance, in August 2021, JUST, Inc. launched JUST egg foldables, a vegan eggs product, across the U.K. and Europe.

North America is anticipated to register a significant growth rate during the forecast period. The growing awareness regarding animal welfare and the increasing health-conscious consumers are the key factors driving the growth of the market in the region. Additionally, the presence of prominent players such as JUST, Inc., YONO, and FreeRange Foods, are focusing on product development and expansion to capture a larger market share in the region. For instance, in May 2021, JUST, Inc. launched JUST vegan scrambled eggs in the U.S.

In this part of the vegan eggs products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your vegan eggs products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a vegan eggs products business comes from the sale of vegan egg products, as well as private label and co-branding partnerships. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, retail sales, wholesale sales, and catering services.

Projecting Expenses
In this section, all the regular expenses related to keeping the vegan eggs products business running will be described. The list of operating expenses includes raw materials and ingredients, packaging, wages, marketing and advertising, utilities, insurance policies, and others.

Some of the key companies operating in the vegan egg products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, JUST Inc. launched VeganEgg, a plant-based egg replacer made from mung beans.

– In August 2022, Hampton Creek launched Just Egg, a liquid vegan egg product made from mung beans.

– In October 2022, Follow Your Heart launched VeganEgg, an egg-replacer made from a blend of algal flour and plant-based ingredients.

Some of the prominent players in the vegan egg products market include:

– JUST Inc.
– Hampton Creek
– Follow Your Heart
– The Vegg
– Beyond Eggs
– Daiya Foods
– Vegginegg
– Egg-Replacer
– VeganEggs
– VeganEggs Plus

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global vegan eggs products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Plant-based Eggs
– Egg Replacers

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Factors Driving the Global Vegan Eggs Products Market?
[A]: Increasing consumer awareness about health benefits linked to vegan diets, growing health concerns related to animal-based food products, and rising demand for plant-based food products are some of the key factors driving the global vegan eggs products market. Other factors such as increasing product availability in retail stores and online platforms, rising disposable income, and innovative product launches are also driving the market.

[Q]: What are the Different Types of Vegan Egg Products?
[A]: Vegan egg products can be categorized into soy-based, oat-based, pea-based, and others (including chia, flax, and quinoa-based) vegan egg products. Soy-based vegan egg products are the most popular type of vegan egg products.

[Q]: What is the Potential of Product Innovation?
[A]: To meet the growing demand for vegan egg products, manufacturers are focusing on product innovations such as new formulations, flavors, and textures. Manufacturers are also focusing on organic and sustainable packaging solutions to meet the rising consumer demand for organic and sustainable food products.

[Q]: Who are the Key Players in the Vegan Eggs Products Market?
[A]: Key players in the vegan eggs products market include Beyond Meat, Just, Inc., Hampton Creek, Follow Your Heart, Daiya Foods, Nature’s Path Foods, Inc., Sunfed Meats, Veggemo, and Go Veggie.

[Q]: What is the Outlook for the Global Vegan Eggs Products Market?
[A]: The global vegan eggs products market is expected to grow at a CAGR of around 10%, during the forecast period of 2021 to 2026. The increasing awareness about the health benefits of vegan diets and the growing demand for plant-based food products are expected to drive the market growth.