Press release
Plant-Based Egg Market Size is expected to reach at USD 9.02 billion by 2030, registering a CAGR of 20.78%
Industry AnalysisEggs made from plants are an alternative to regular eggs. They are not made from hens; instead, they are made from raw plant materials such as algae, legumes, cereals, and others. Eggs made from plants perform similarly to traditional eggs. In place of traditional egg breakfast dishes such as omelets and scrambled eggs, among others, they are used. They can also be used in homemade baked goods, such as muffins and cakes. They support various processes, including stabilization, gelation, and emulsification. Data Bridge Market Research analyses that the global plant-based egg market is expected to reach USD 9.02 billion by 2030, which was USD 1.99 billion in 2022, registering a CAGR of 20.78% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Plant-Based Egg Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East & Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analysed based on the tools such as Porter's five forces analysis. The study throws light upon market attractiveness where all the segments are arranged based on the compound growth rate, size, and general attractiveness.
Global Plant-Based Egg Market Dynamics
Drivers
• Awareness of vegetarian plant-based egg
Plant-based eggs, milk, and meat are some novel products that stimulate growth. These products are rich in essential nutrients and taste and also have an identical taste to animal-derived products. Plant-based egg proteins can easily be consumed by vegetarians, which helps them maintain a healthy lifestyle and desired nutritional values.
Opportunities
• Increase in consumers of vegan food
Veganism is growing in popularity all over the globe as people are becoming more concerned about the environment and animals. On farms, livestock such as pigs, hens, cows, and goats contribute to the greenhouse effect through their rearing and social standing. Greenhouse gases are released from livestock agriculture, such as cow farming, and the gases are released to prevent atmospheric heat from escaping, raising the overall temperature. The increased demand for animal meat necessitates the excessive practice of animal farming. Thus, an increase in the number of vegan food consumers eliminates the demand for excessive animal farming, decreasing greenhouse gas emissions in the environment.
• Technological advancements in the plant-based egg market
The demand from millennials and emerging markets, outstripping supply, is expected to drive the plant-based egg market's revenue growth at a healthy CAGR. Key growth drivers in the plant-based egg market are technological advancements allowing effective production, expanding product portfolio, upscale design and packaging, efficient operational maintenance, and sales monitoring.
Restraints/ Challenges
• High cost and limited availability
They are typically more expensive than traditional eggs, and consumers who cannot afford them may be constrained from purchasing plant-based eggs. Plant-based eggs are also not widely and conveniently accessible in many areas. This will be a major challenge for the plant-based egg market's growth.
Get full access to the report: https://www.databridgemarketresearch.com/reports/global-plant-based-eggs-market
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