A new plant-based egg replacement is entering the Indian market with the launch of EVO Food’s liquid egg. The Mumbai-based company is aiming to expand from India into other South-East Asian countries and the US by next year.
The egg replacement, which is made from legumes, will be sold through its direct-to-consumer website this year. The firm is also working with restaurants in Mumbai, Dehli and Bangalore to test and launch its product. While many plant-based meat or dairy alternatives boast higher prices than real meat or dairy, EVO’s liquid eggs are expected to be similar in cost to organic eggs in India.
EVO was founded by Kartik Dixit and Shraddha Bhansali in 2019. The startup’s product is sustainable, cholesterol-free and ethically produced. JUST is another company that produces and sells plant-based egg alternatives, but the sector still remains small overall.
Other plant-based eggs typically use a single protein or a mix of vegetable proteins, but EVO uses a blend of proteins from legumes to provide a better nutritional profile. Its product contains micronutrients, is low in fat and is high in protein.
Product development prioritized nutrition, with taste and functionality as essential factors as well. Creating the texture, with the right pull and sponginess, was also important for EVO. Taking it one step further, the company wanted to create a product that was fluffier than traditional eggs.
The egg alternative will be undergoing further product development, even after its launch this year. EVO will continue to fine tune the texture and functionality of the product. For now, the egg needs to be refrigerated and has a shelf-life of six months. Before targeting the retail market, the company is working on a shelf-stable product.
EVO is looking to tap into the US market by April 2021, mainly through foodservice. Having seen the popularity and success of companies like Beyond Meat and Impossible Foods, the company is tapping into the flexitarian market and is currently in talks with restaurants in New York City to pilot its product.
Investments are crucial to help startups like EVO in the plant-based egg sector get off the ground. Annually, India produces a billion eggs, so the availability of plant-based alternatives could put a dent in the market.