Global plant-based eggs market will grow at 18.5% CAGR from 2023 to 2032, propelled by innovations in plant-based technologies and a rising focus on health-conscious choices. As consumers seek nutritious alternatives and embrace plant-based diets, the demand for innovative plant-based egg products surges. These advancements cater to health-conscious individuals while aligning with sustainable and ethical consumption trends. The convergence of innovation and health-driven choices will be a key driver in expanding the size of the plant-based eggs market landscape.
For instance, in 2023, Zikooin Company (UNLIMEAT), a key player in Korea's alternative meat market, collaborated with JUST Egg, a leading U.S.-based plant-based egg brand. Through a brand license agreement, the companies will introduce new plant-based egg products in JUST Egg's popular folded format, expanding their offerings in the alternative egg market in Korea. This move signifies a clear trend toward an upward trajectory in the industry.
The market size from the grains segment will exhibit significant growth through 2032. The growing consumer preference for natural and whole-food ingredients will fuel the prominence of grain-derived, plant-based eggs. As an integral source, grains provide a wholesome and sustainable foundation, aligning with the demand for nutritious and ethical alternatives. With the rise of plant-based diets, the grain segment will play a pivotal role, contributing substantially to the market's evolving dynamics and expansion.
The plant-based eggs industry share from the food processing segment will expand commendably over 2023-2032. As consumer preferences shift towards sustainable and plant-based alternatives, the food processing industry is adopting plant-based eggs for their versatility in various applications. With an increasing demand for innovative and cruelty-free ingredients, plant-based eggs find significant traction in food processing, reflecting a fundamental shift in dietary choices and contributing to the sector's prominence within the evolving plant-based eggs market.
Specialty stores will accumulate a substantial share of the market revenue by 2032, driven by an increasing consumer preference for specialized outlets offering a curated selection of plant-based products. Specialty stores cater to discerning customers seeking high-quality, innovative alternatives, thus becoming pivotal in the plant-based eggs market. As awareness and demand for plant-based options rise, the accessibility and expertise provided by specialty stores will position them as key contributors to the market's growth.
Europe plant-based eggs industry will grow at a remarkable CAGR from 2023 to 2032, attributed to the region's heightened awareness of environmental sustainability and a growing demand for cruelty-free and plant-based alternatives. Stringent regulations promoting sustainable practices further align with the European consumer's preference for ethical choices. As the plant-based movement gains momentum, Europe will emerge as a key contributor, reflecting a significant share in the dynamic and evolving market for plant-based eggs.
Source https://www.gminsights.com/industry-analysis/plant-based-eggs-market
