The global egg-free mayonnaise market size is anticipated to grow speedily owing to the development of innovative mayonnaise preparations by leading global food companies, states Fortune Business Insights™ in its report, titled “Egg-Free Mayonnaise Market, 2019-2026”. With concerns surrounding health and wellness mounting, the demand for plant-based, clean-label foods and beverages is escalating worldwide. Egg-free mayonnaise is one such food innovation that is made from plant-based ingredients, making it a functionally healthier option to regular mayo. Several food companies have been formulating novel mayonnaise offerings to cater to the expanding vegan populations. For example, in July 2019, Hunter and Gather released Mayocado, the company’s newest egg-free mayo alternative, consisting of natural ingredients such as avocado oil, pea protein, and Himalayan salt. Another example is Unilever’s Fabanaise. Launched in August 2019, Fabanaise is Unilever’s vegan mayonnaise offering that has been made from the leftover liquid used to store chickpeas. These innovations are brightening the outlook of this market and augmenting its growth trajectory.
List of Key Players Profiled in the Egg-Free Mayonnaise Market Report:
- Spectrum Organic Products
- Unilever Group
- Del Monte Foods Inc.
- Kensington and Sons LLC
- Zydus Wellness Limited
- Nestlé S.A.
- Conagra Brands, Inc.
- Crosse and Blackwell
- JUST Inc.
The market has been segmented in the following manner:
Based on type, the market segments include flavored and plain. On the basis of end-users, the market is grouped into the HoReCa sector and household. In terms of distribution channel, the market is segmented into supermarket/hypermarket, department stores, online stores, and others. Geographically, the market is clubbed into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
What Does the Report Contain?
The report contains comprehensive research into the factors driving, restraining, and shaping the dynamics of the market. Moreover, the report provides a careful segmentation of the market and offers a worm’s eye-view analysis of each segment. In addition, the report comprises a granular study of the regional prospects and developments impacting the market, along with a thorough diagnosis of the leading market players and their key strategies.
Heavy Investments in Plant-based Foods amid COVID-19 to Accelerate Market Growth
The egg-free mayonnaise market growth is receiving enhanced stimulation owing to the reinforced importance of consuming plant-based foods amid the COVID-19 pandemic. More significantly, the pandemic has reiterated the necessity of building sustainable food chains, a theme that dictated the World Economic Forum’s Annual Meeting in 2020. The sudden spike in the adoption of vegetarian diets has prompted major food organizations to make strategic investments and build a comprehensive portfolio of plant-based foods, such as egg-free mayonnaise. For example, in February 2020, Cargill announced a USD 4.6 million investment to construct a food pilot facility to speed up new product development in the US. In the same month, Givaudan and Bühler teamed up to set up an innovation center in Singapore focused on formulating plant-based foods. The coronavirus has, thus, provided the necessary impetus to plant-based foods, which will have rippling effects on markets associated with this industry.
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North America to Register Phenomenal Growth; Asia Pacific to Present Profitable Opportunities
Geographically, North America is expected to lead the egg-free mayonnaise market share over the next few years on account of the rising concerns about animal welfare and increasing awareness about animal cruelty. As a consequence, animal-based foods and drinks are experiencing shrinking demand in the region. Further, the health and taste benefits associated with egg-free mayonnaise are propelling its demand across the US and Canada.
Asia Pacific is spawning plenty of lucrative opportunities for market players as many hotels, restaurants, and cafes have been integrating egg-free mayonnaise in their menus. In addition, companies such as Zydus and Veeba have also been introducing plant-based food items to cater to the niche dietary demands of the urban populations in Asia Pacific, especially in India and China.
Incorporation of Vegan Options by Eateries to Animate Competitive Spirits
The increasing popularity of veganism and clean-label foods has not only pushed food and beverage companies to innovate, but it has also encouraged eating outlets to incorporate novel vegan offerings, such as egg-based mayonnaise, in their menus and preparations. This has also impelled food brands to partner up with restaurants, cafes, and supermarkets to widen their customer reach and also deepen their distribution channels in regional markets.