Plant-based Eggs Market is anticipated to grow at a CAGR of 32 % from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Plant-based Eggs Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the Global Plant-based Eggs Market accounted for over~US$ 20 million in 2019. It is anticipated to grow at aCAGR of 32% from 2019 to 2030.
Eggs are considered to be a rich source of protein, fats, and micronutrients that play an important role inproviding nutritionto the human body. However, eggs are alsorelated with adverse effects on human health, mainly due to their high cholesterol content. Plant-basedeggs aregroundbreaking vegan egg replacements consisting of soy and mung bean as the main ingredient and a major source of protein.
The market growth of plant-based eggscan be attributed to factors such as increasing adoption of plant-based alternatives owing to the health benefits that they offer. Eggs consist of significant amounts of cholesterol. On the other hand, plant-based eggs are cholesterol-free. With changing consumers’ lifestyles and attitudes, the number of people suffering from hypercholesterolemia is increasing. Thus, plant-based egg alternatives are attracting health-conscious consumers.Increasing consciousness among people regarding the environment and eco-friendly approaches is popularizing plant-based alternatives as they minimize greenhouse gas (GHG) emissions by eliminating biodiversity loss, deforestation, water pollution, and freshwater use. Increasing awareness regarding contamination from Salmonella bacteria, which is found in chickens,and may get transmitted to eggs, causing foodborne illnesses, which is considered to be a serious concern among people.Moreover, prominent players, start-ups, and disruptor companies across various geographies have launched new products into the market to meet the rising demand for innovative products and flavors. Along with this, major retail chains, such as Kroger, introduced plant-based eggs through 2,100 Kroger-owned stores across the U.S.
Other factors,such aseggs in the form of liquids are being majorly used in the food industry; however, handling and storage of liquid eggs is a problem. On the other hand, plant-based eggs areeasier to handle andhave a longer shelf life.Moreover, theydo not exhibit special storage requirements. Furthermore, other characteristics, such as better binding, emulsification, foam stabilization, and flavor enhancement of certain eggalternatives, may be particularly useful in bakery & confectionery applications,which is further boosting the plant-based egg market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Plant-based Eggs Market by Form (Liquid and Solid), Distribution Channel (Online, and Offline) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/plant-based-eggs-market/131
However, difficulties in understanding consumers’ behavior better, challenges associated with non-egg formulations, and legislative challenges may curb market growth to a certain extent.
North America is estimated to account for the largest market share during the forecast period. The growing popularityof egg alternatives by the food industry is driven by many factors including allergen reduction, improved food safety, healthier nutritional profiles, easier handling and storage, improved functionality, and environmental sustainability. Also, thepresence of the major prominent players in the region are further helping market growth.
Some of the prominent players in the global plant-based eggs market include Eat JUST, Inc., Vegg, Follow Your Heart, ORGRAN, Spero Foods, Inc., and others.
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