Surging Awareness Associated with Health Benefits of Plant-Based Food is anticipated to favor the Plant-Based Egg Replacers Market's Growth

According to a study published in The Permanente Journal in 2016, plant-based diets have gone mainstream because the benefits have been widely established in several research studies. Furthermore, the recent trend indicates healthcare practitioners encourage plant-based eating incredible results have been observed in their patients. Therefore, the increasing awareness regarding the positive health benefits of consumption of plant-based foods is the major factor that is driving the growth of the global plant-based egg replacers market in the forecast period.

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Data Bridge Market Research analyses that the plant-based egg replacers market is expected to grow at a CAGR of 6.0% in the forecast period of 2022 to 2029 and is expected to reach USD 2,386.45 million by 2029. The demand for plant-based egg replacers is increasing, for which key players or companies are now more focused and are involved in expansion, innovation, and launches of products in the plant-based egg replacers market. These decisions are ultimately enhancing the growth of the global plant-based egg replacers market.

Surge in the Vegetarian, Vegan and Flexitarian Population is projected to accelerate the Market Expansion

The production of meat and other animal products has a significant environmental impact, ranging from the crops and water required to feed the animals to transportation and other farm-to-for fork procedures. The massive amount of grain feed required for meat production contributes significantly to deforestation, habitat loss, and species extinction. On the other hand, a vegan diet requires significantly fewer crops and water to sustain, making the transition to veganism one of the simplest, most pleasant, and most successful methods to reduce our impact on the environment. This has led to a significant increase in the vegan population. Moreover, flexitarianism, popularized by urban millennials, is a way of eating that encourages customers to choose plant-based meals in a few meals or days a week rather than eliminating meat or animal products from their diets. The expanding flexitarian, as well as the veganism movement, has raised the demand for meat and egg replacements, thus boosting the market growth.

Report Scope and Market Segmentation

Segment Analysis:

The global plant-based egg replacers market is segmented into seven notable segments based on the plant-based egg type, source, gum used, form, function, nature, category, and application.

• On the basis of plant-based egg type, the global plant-based egg replacers market is segmented into white egg replacement, egg yolk replacement and complete egg replacement. In 2022, white egg replacement segment is expected to dominate the market with a 53.68% market share owing to the health benefits of white egg replacements. In addition, the increasing vegan population drives the market growth.
• On the basis of source, the global plant-based egg replacers market is segmented into soy protein, pea protein, flaxseed, chia seeds, wheat protein, algal flour, tapioca starch, potato starch, arrowroot starch, fava bean, mung bean and others. In 2022, soy protein segment is expected to dominate the market with a 19.02% market share.

In 2022, soy protein segment is expected to dominate the global plant-based egg replacers market

In 2022, soy protein segment is expected to dominate the market with a 19.02% market share due to the increasing demand for soy protein to give the plant-based egg a great texture and to imitate the texture of conventional eggs among manufacturers. Soy protein are one of the few vegetarian sources of total protein that contain all of the essential amino acids that humans require.

• On the basis of gum used, the global plant-based egg replacers market is segmented into xanthan gum, cellulose gum, tara gum, carrageenan and others. In 2022, the xanthan gum segment is expected to dominate the market with a 38.81% market share due to its thickening and stabilization properties. Thus, increasing demand for thickening agents in bakery and confectionary industries drives the market growth.
• On the basis of form, the global plant-based egg replacers market is segmented into powder, liquid and others. In 2022, the powder segment is expected to dominate the market with an 86.79% market share due to factors such as their easy-to-use nature. In addition, the prices of powder are affordable, which is driving the growth of the market in the forecast period.
• On the basis of function, the global plant-based egg replacers market is segmented into thickening, glazing, aeration and batter viscocity, elasticity, stability, structure retention and others. In 2022, the stability segment is expected to dominate the market with a 35.27% market share due to its ability to keep food fresh and maintain quality. In addition, increasing consumers' preference for plant-based egg replacers maintains the food's stability.
• On the basis of nature, the global plant-based egg replacers market is segmented into GMO and Non- GMO. In 2022, the non-GMO segment is expected to dominate the market with 83.15%.

In 2022, non-GMO segment is expected to dominate the global plant-based egg replacers market

In 2022, the non-GMO segment is expected to dominate the market with a market share of 83.15% as most consumers demand non-GMO plant-based products due to its affordability and easy availability. Moreover, the organic non-GMO plant proteins in the diet help to lower the risk of heart disease, cholesterol, systolic blood pressure, obesity in children, and mortality.

• On the basis of category, the global plant-based egg replacers market is segmented into organic and conventional. In 2022, conventional segment is expected to dominate the market with a 91.69% market share owing to its easy availability and consistent increasing demand. In addition, it provides better taste and more flavors which drives the market growth.
• On the basis of application, the global plant-based egg replacers market is segmented into bakery, processed food, confectionary and savory food. In 2022, the bakery segment is expected to dominate the market with a 76.87% market share due to increasing demand for bakery products. In addition, consumers are demanding plant-based and vegan bakery products that helps the market to grow in coming years.

Major Players

Data Bridge Market Research recognizes the following companies as the major plant-based egg replacers market players in plant-based egg replacers market are DuPont (U.S.), Alternative (Philippines), Namaste Foods. (India), J&K Ingredients, Inc. (U.S.), Fiberstar (U.S.).

Market Development

• In May 2021, OsomeFood created and launched a vegan hard-boiled egg made entirely of fungi mycoprotein. Fermentation produces the egg, which contains many essential amino acids. Because of the mycoprotein, OsomeFood's plant-based egg has a high protein content as well as other nutritional amino acids found in animal eggs. The eggs are the world's first animal-based hard-boiled egg substitute, allowing consumers to enjoy a hard-boiled egg in their food without having to purchase an animal product.
• In October 2020, EVO Foods launched its plant-based liquid egg called Evo Egg Alternative made from legumes. Plant proteins are extracted from lentils using biotechnology, resulting in a 100 percent vegan egg liquid that is cruelty-free, cholesterol-free, and antibiotic-free. Amino acids and micronutrients such as vitamin D, A, and B12 are also present in the liquid egg.
• In December 2020, Cracked has launched its 100% vegan liquid egg replacement The No-Egg Egg at stores in the U.K. Crackd's signature egg product, which cooks, bakes, acts, and tastes like an egg, is made with cold-pressed pea protein, nutritional yeast, and black sea salt. Quiches, cookies, Yorkshire pudding, and sponge cake are among the items Crackd claims you can make with its egg. It can be used in scrambles, omelettes, and other traditional egg dishes, but it takes 15 minutes longer to cook than a regular chicken egg.
• In October 2021, PiperLeaf launched a plant-based egg alternative owing to increasing consumer inclination towards vegan food. Piperleaf vegan eggs are made from legumes, are cruelty-free, soy-free, and contain no artificial ingredients. According to the company, our eggs also meet the nutritional requirements for high protein and fibre. It can be used to make a variety of dishes that would normally require regular eggs, such as scrambled eggs, omelettes, and even baking.
• InnovoPro has introduced CP-FOAM 100, a completely vegan egg white replacement system based on its CP-Pro 70 chickpea protein. CP-FOAM 1001 was created for food manufacturers who make mousse, pavlova, and meringue, which all require a stable foamed egg white. The vegan egg white replacer was developed to meet an otherwise unmet industry need: an allergen-free, plant-based version of egg whites that can be consumed by both vegans and those with egg allergies. CP-FOAM 1001 foams and whips like egg whites can be used in any recipe that calls for egg whites.

Regional Analysis

Geographically, the countries covered in the plant-based egg replacers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in plant-based egg replacers market during the forecast period

North America dominated the plant-based egg replacers market due to the growing acceptance of veganism and rising egg allergy. North America will continue to dominate the plant-based egg replacers market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the major industrialists are focusing on developing plant-based and vegan products to fulfill consumer demands in this region. 

Asia-Pacific is estimated to be the fastest growing region in plant-based egg replacers market

Asia-Pacific is expected to grow during the forecast period due to an increase in demand for egg replacers in bakery and savory industries. Moreover, egg replacers offer low cholesterol characteristic and the growth in cardiovascular diseases.

Plant-Based Egg Replacers: A Healthier as well as a Sustainable Alternative to Egg

Plant-based alternatives have become increasingly popular in recent years across a wide range of food categories and applications. Many factors, including allergenicity, sustainability, and consumer shifts toward flexitarian diets, have fueled this trend. Vegan eggs are becoming more popular as a healthier alternative to eggs because they do not contain cholesterol. This corresponds to market trends, with 41.2% of launches claiming to have low, no, or reduced cholesterol. This industry also concentrates on developing products with lower sugar, fat, saturated fat, and sodium content. Because consumers prefer food products that are free of additives and preservatives, a growing trend is promoting the use of natural and clean label ingredients. Declarations such as GMO-free (35.3%), organic (27.4%), no additives/preservatives (22.5%), free from added/artificial preservatives (7.8%), and free from added/artificial colorings (7.8%) reflected this (5.9%). Consumers are becoming aware of the disadvantages associated with the eggs. Owing to the various advantages of plant-based egg replacers, they emerge as a healthier alternative to eggs.

Moreover, the intensive confinement systems, high water and feed usage, and high waste output characterize the majority of egg production in the United States. Layer hens produce multiple tonnes of manure for every tonne of chicken eggs. Water pollution from waste used as fertilizer is a major contributor to biodiversity loss in streams and ocean dead zones across the United States, and ammonia emissions from this waste are a health and safety concern on farms. The production of plant-based egg replacers is more sustainable as compared to the conventional egg production method. Therefore, to avoid the issues and complications associated with the egg production, the plant-based egg replacers are increasingly gaining popularity.

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