Vegan Eggs Market Size, Share, Growth Analysis, By Type, By Product, By Nature, By End Use, By Distribution, By Region - Industry Forecast 2024-2031

Global Vegan Eggs Market size was valued at USD 153.2 billion in 2022 and is poised to grow from USD 180.3 billion in 2023 to USD 664.1 billion by 2031, growing at a CAGR of 17.7% during the forecast period (2024-2031).

The global industry is predicted to offer strong growth prospects for vegan eggs made from algae protein and flour. Algal flour mimics the nutritional profile of traditional eggs by having high protein and vitamin contents as well as being a strong source of fiber and key amino acids. Algal chemicals such as carrageenan and algin, which are found in algal flour and function as thickeners, are also found in algae. As a result, vegan scrambled eggs made from algae have an excellent outcome and mouthfeel. Growing consumer demand for and knowledge of plant-based eggs are major factors in the market's expansion. Demand for plant-based foods is growing along with the global population growth. The Vegetarian Resource Group estimates that 2% of Americans are vegans, a steadily rising number. Moreover, The Vegan Society reports that 1.21% of the population in the U.K. identified as vegan, up from 0.46%. The key market drivers are the vegan movement and the expanding population. In March 2022, Berlin-based Perfect also revealed plans to introduce its plant-based egg product in other European nations, such as the United Kingdom, Austria, and Switzerland. Some of the key elements influencing the market growth are new product releases, rising awareness, and safety authority approvals.

US Vegan Eggs Market is poised to grow at a sustainable CAGR for the next forecast year.