According to the market research company Fact.MR, the market for dairy-free products is set to grow rapidly by 2027. The rising trend towards vegan diets and increasing rejection of dairy products by consumers have prompted Fact.MR. to make this prediction.
Plant-Based Egg Market to Grow With 28% CAGR Through to 2032
A report by business and competitive intelligence provider Fact.MR has predicted significant growth for the plant-based egg market in the coming years. The market was valued at $2.11 billion last year and is expected to be worth $24.9 billion by 2032, exhibiting a CAGR of 28% over the forecast period. Growth will be driven by food safety concerns regarding chicken eggs, along with increased environmental awareness; plant-based eggs are said to require 98% less water than conventional eggs and generate fewer carbon emissions. The rise in veganism worldwide will also help to boost sales, along with improved distribution and increased awareness of the health benefits of plant-based proteins. Several new brands and products are expected to enter the market, providing further growth opportunities. However, the …
