Asia-Pacific Plant-Based Egg Market, By Plant-Based Egg Type(Full Egg, White Egg, And Egg Yolk), Form(Powder, Liquid And Others), Base Ingredient (Algal Flour, Wheat Flour, Soy Flour, Chia Seeds, Garbanzo Beans, Starch, Mung Beans, Pea, And Others), Function (Partial Egg Replacement, Full Egg Replacement, Egg Wash Substitute, And Others), Application (Breakfast Application, Homemade Bakery Applications, And Others), Packaging Type (Bottles, Pouches, Tetra Packs, And Others), And Distribution Channel (Store Based Retailer And Non-Store Based Retailer (Online), Country (China, Australia, Japan, South Korea, Singapore, Malaysia, Indonesia, Philippines, India, Thailand, Rest Of Asia-Pacific,) Industry Trends And Forecast To 2028
Market Analysis and Insights: Asia-Pacific Plant-Based Egg Market
The Asia-Pacific plant-based egg market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 73.1% in the forecast period of 2021 to 2028 and is expected to reach USD 850.30 million by 2028. Rising demand for plant-based and vegan food products coupled with increased awareness regarding the health benefits of the plant-based egg is anticipated to drive the plant-based egg market growth.
The plant-based egg is an alternative to conventional eggs. They are not produced from hens but instead are produced by plant-based raw materials such as algae, legumes, cereals, and others. The plant-based eggs replicate the functionality of conventional eggs. They are being used as an alternative to conventional egg breakfast items such as omelets, scrambled eggs, and others. Moreover, they can also be used in homemade bakery items such as cakes and muffins. They serve the purpose of stabilization, gelation, emulsification, and others. Plant-based eggs offer various health benefits such as are cholesterol-free, allergen-free, and hence, are opted by the consumers suffering from health issues related to cholesterol or who suffer from egg allergy. Additionally, plant-based eggs offer high food safety as they are made from plant-based raw material and thus reduces the risk of food-borne illness. Moreover, they are environmentally sustainable.
Plant-based eggs are rich in calcium and vitamin B12 and contain low fat and zero cholesterol. Therefore, they are preferred by many consumers for the health benefits. Various manufacturers offer plant-based eggs in different packaging and prepared from different plant sources such as cereals, legumes, algae, and others. Moreover, the growing demand for plant-based eggs among consumers due to their health benefits and the increasing trend of plant-based food and vegan food are the key factors driving the Asia-Pacific plant-based egg market. However, the high cost of the plant-based egg as compared to the conventional egg may hamper the growth of the plant-based egg market.
- In addition, the change in lifestyle, eating habits of consumers, and the increase in demand for plant-based food are expected to create huge opportunities for the Asia-Pacific plant-based egg market. The presence of a small number of domestic manufacturers may create a challenge for the Asia-Pacific plant-based egg market.
The plant-based egg market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Plant-Based Egg market scenario, contact Data Bridge Market Research for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
Plant-Based Egg Market Scope and Market Size
The plant-based egg market is segmented on the basis of plant-based egg type, form, base ingredient, function, application, packaging type, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of plant-based egg type, the Asia-Pacific plant-based egg market is segmented into a full egg, white egg, and egg yolk. In 2021, the full egg segment is expected to dominate the plant-based egg market due to various product launches of full eggs in the market.
- On the basis of form, the Asia-Pacific plant-based egg market is segmented into powder, liquid, and others. In 2021, the liquid segment is expected to dominate the plant-based egg market due to the availability of various plant-based egg products in liquid form, which is driving the market's growth.
- On the basis of the base ingredient, the Asia-Pacific plant-based egg market is segmented into algal flour, wheat flour, soy flour, chia seeds, garbanzo beans, starch, mung beans, pea, and others. In 2021, the mung beans segment is expected to dominate the plant-based egg market due to the increasing demand for mung beans to give the plant-based egg a great texture and to imitate the texture of conventional eggs among manufacturers.
- On the basis of function, the Asia-Pacific plant-based egg market is segmented into partial egg replacement, full egg replacement, egg wash substitute, and others. In 2021, the full egg replacement segment is expected to dominate the plant-based egg market due to the rising demand for plant-based food and the growing trend of veganism.
- On the basis of application, the Asia-Pacific plant-based egg market is segmented into breakfast application, homemade bakery applications, and others. In 2021, the breakfast application segment is expected to dominate the plant-based egg market due to the increasing demand for a plant-based egg to prepare breakfast dishes such as egg scramble, omelet, and others among health-conscious consumers.
- On the basis of packaging type, the Asia-Pacific plant-based egg market is segmented into bottles, pouches, tetra packs, and others. In 2021, the bottles segment is expected to dominate the plant-based egg market due to the easy availability and easy usage of bottle packaging.
- On the basis of distribution channel, the Asia-Pacific plant-based egg market is segmented into store-based retailer and non-store based retailer (online). In 2021, the store based retailer segment is expected to dominate the plant-based egg market due to the convenience and easy accessibility of a plant-based prouct in the nearby stores.
Asia-Pacific Plant-Based Egg Market Country Level Analysis
The Asia-Pacific plant-based egg market is analyzed, and market size information is provided by the country, plant-based egg type, form, base ingredient, function, application, packaging type, and distribution channel as referenced above.
The countries covered in the Asia-Pacific plant-based egg market report are China, Australia, Japan, South Korea, Singapore, Malaysia, Indonesia, Philippines, India, Thailand, and the rest of Asia-Pacific. China will grow in the forecasted period due to the ample availability of raw material to produce plant-based eggs coupled with rising adoption of veganism.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Growing strategic activities by major market players to enhance the awareness for plant-based egg is boosting the market growth of plant-based egg market.
The plant-based egg market also provides you with a detailed market analysis for every country's growth in the particular market. Additionally, it provides detailed information regarding the market players' strategy and their geographical presence. The data is available for the historic period 2010 to 2019.
Competitive Landscape and Plant-Based Egg Market Share Analysis
Plant-based egg market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company's focus related to the plant-based egg market.
The major companies which are dealing in the Plant-Based Egg Dharmic Foods Pvt. Ltd., OsomeFood, EVO Foods, The Veggletto Company Pty Ltd, Nabati, ORGRAN, Eat Just, Inc., among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts, agreements, and launches are also initiated by companies worldwide, which are also accelerating the plant-based egg market.
For instance,
- In October 2021, EVO Foods launched its plant-based liquid egg from legumes. The company also planned to launch its plant-based egg products in the U.S. by the end of 2020. The launch has helped the company to increase its customer base
- In June 2020, The Veggletto Company Pty Ltd launched the Veggletto system, which is a breakthrough innovation for egg-alternative cooking. It helped the company to increase in sales of the product
Collaboration, product launch, business expansion, award and recognition, joint ventures, and other strategies by the market player are enhancing the company's footprints in the plant-based egg market which also provides the benefit for the organization's profit growth.
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