Global Vegan Egg Substitute Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2024-2032)

Global Vegan Egg Substitute Market Growth

The growth of the vegan egg substitute industry is driven by the rising demand for vegan processed food products. Further, certain factors positively impacting the market growth are the rising allergenicity, increasing awareness regarding environmental sustainability, and the shift of consumers towards vegan diets. Moreover, the market is also influenced by secondary drivers like enhancing shelf life as compared to eggs, along with rising prices of eggs due to increased poultry diseases.

The vegan egg substitute market dynamics and trends are being driven by the increasing potential of these substitutes to replace eggs in a variety of food products, including cakes, biscuits, mayonnaise, muffins, noodles, and more.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Vegan Egg Substitute Market Analysis

Vegan egg substitutes are ingredients used in cooking and baking to replace eggs in various food products. There is a range of such ingredients available, many of which are completely free of animal products, making them suitable for vegan diets. These substitutes are cholesterol-free, which contributes to the growing demand in the vegan egg substitute market. Additionally, consumers are increasingly choosing homemade alternatives like fruits, baking powder, chia seeds, potato starch, and ground seeds to replace eggs.

Global Vegan Egg Substitute Industry Outlook

According to the Good Food Institute, the United States' total retail plant-based food sales, reached USD 8.1 billion in 2023, reflect a growing consumer shift towards plant-based diets. This surge is directly boosting the vegan egg substitute market revenue, as increasing demand for alternative proteins drives innovation and adoption of egg substitutes in cooking and baking.

The Association Chambers of Commerce and Industry of India reported the vegan food market is projected to capture 7.7% of the global protein market by 2030. Meanwhile, global demand for animal and dairy protein is expected to reach USD 1.2 trillion by the same year.

As per Industry Reports, in 2020, global imports of potato starch reached 1,065,055 tonnes, increasing to 1,251,917 tonnes by 2022 and maize starch imports are estimated to be 2,269,211 tonnes in 2022, indicating a shift in import trends within the starch market.

Further, the Australian Bureau of Statistics reports that household spending on food increased by 4.9% in June 2024, highlighting a rise in consumer expenditure on food products and alternative options. This trend is contributing to the growth of the vegan egg substitute industry revenue, as more individuals adopt plant-based diets. The increase in household spending reflects a shift in food budgets towards vegan and health-conscious products.

Increasing consumer preference for plant-based diets drives vegan egg substitute demand growth.

• Vegan egg substitutes offer cholesterol-free options, appealing to health-conscious consumers.
• A wide range of substitutes, including commercially available and homemade options, cater to various needs.

Vegan egg substitutes can be more expensive than conventional eggs.

• Some substitutes may not perfectly replicate the taste and texture of real eggs.
• Access to certain vegan substitutes may be restricted in some regions.

Advances in food technology could improve the taste and functionality of vegan egg substitutes.

• Growing awareness and demand in emerging markets present new growth opportunities in the vegan egg substitute market. 
• Collaborations with food manufacturers can expand the use of vegan egg substitutes in processed foods.

Increased competition from both established brands and new entrants could impact market share.

• Stricter regulations and standards may pose hurdles for product development and marketing.
• Some consumers may be hesitant to adopt vegan substitutes due to doubts about their effectiveness or health benefits.

Key Players in the Global Vegan Egg Substitute Market and Their Key Initiatives

Glanbia plc

• Expanded its vegan protein product line to include innovative plant-based substitutes.
• Formed strategic partnerships with food tech startups.

Ingredion Incorporated

• launched a new range of plant-based ingredients.
• Implemented sustainable sourcing practices for its plant-based ingredients.

Bob's Red Mill Natural Foods, Inc.

• Launched an improved version of its vegan egg replacer.
• Promote the benefits and versatility of its vegan egg substitute through campaigns.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Vegan Egg Substitute Industry Segmentation

“Global Vegan Egg Substitute Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Form

• Solid
• Liquid

Market Breakup by Type

• Starch
• Algae Flour
• Soy-Based
• Others

Market Breakup by Application

• Bakery
• Confectionery
• Desserts
• Convenience Food
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Vegan Egg Substitute Market Share

The growth of the vegan egg substitute industry is fuelled by the significant advantages these substitutes provide in both desserts and convenience foods. Desserts, are beneficial for those with allergies, offer healthier alternatives with lower cholesterol and fat, and promote sustainability by minimizing environmental impact.

For convenience foods, vegan egg substitutes extend shelf life, streamline production with their stable, non-refrigerated nature, and provide versatility across different products. These factors collectively boost accessibility, health benefits, and eco-friendliness, addressing the increasing demand for plant-based options further driving the vegan egg substitute market demand.

Leading Companies in the Vegan Egg Substitute Market

The companies specialise in starches, sweeteners, and ingredients for food, beverage, and industrial uses, focusing on innovation and sustainability to provide tailored solutions that enhance product performance across various industries.

• Glanbia plc 
• Ingredion Incorporated
• Cargill, Incorporated
• Bob's Red Mill Natural Foods, Inc.
• House Foods America Corporation

Vegan Egg Substitute Market Report Snapshots

Vegan Egg Substitute Market Size

Vegan Egg Substitute Market Growth

Vegan Egg Substitute Market Trends

Vegan Egg Substitute Companies

Vegan Egg Substitute Market Regional Analysis