Evo Foods, an India-based plant-based egg startup introduced what the company claims to be the world’s first heat-stable plant-based boiled egg. According to the startup, the new heat-and-eat vegan egg is similar to conventional eggs in terms of nutrition and price. The vegan boiled egg debuted at the Jio World Drive mall in Mumbai and was sold out within hours.

The vegan boiled egg is slated to launch in March 2022, through restaurant partners in Mumbai, Delhi, and Bangalore. The startup’s liquid egg alternative will also be launched simultaneously. Evo’s products are likely to be offered on more menus later this year, as the company is in talks with some Quick Service Restaurant (QSR) chains.

Founded in 2019, Evo uses biotechnology to extract plant proteins from appropriate sources to mimic the versatility and texture of conventional eggs. The company aims to expand to all the continents by 2026. Using its proprietary patent-pending technology and native Indian ingredients such as mung beans and peas, the business is on a quest to disrupt and modernize the chicken egg market. Evo claims to be one of the few startups in the world to achieve price parity across numerous animal egg categories.

<ul><li> Analyst QuickTake: There has been an interest in plant-based eggs in recent years, with many companies introducing many versions of liquid, hard boiled, and powdered vegan eggs. In May 2021, Singapore-based OsomeFood introduced a plant-based hard boiled egg, which the company claimed was the world’s first, while in August 2021, Texan startup Crafty Counter debuted what it claimed to be the world’s first 100% plant-based hard-boiled egg. However, these products were ready to eat while Evo claims that its product is the first heat-stable plant-based product. Furthermore, according to Evo, it is one of the few companies in the world that has reached price parity with multiple animal egg categories across geographies, which is an added advantage. While there are only a few vegan hard boiled egg options in the US at the moment, more players will most likely enter the vegan hard boiled egg market when Evo Foods enters the US since its expansion plans extend over the next five years.</ul>