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Egg-Free Mayonnaise Market Forecasted to Reach US$ 7.9 Billion by 2033
The egg-free mayonnaise market size is projected to be valued at US$ 4,315.4 million in 2023 and is expected to rise to US$ 7,988.2 million by 2033. The sales of egg-free mayonnaise are expected to grow at a significant CAGR of 6.4% during the forecast period.
Millennials in particular are becoming more accepting of veganism, which has sparked industry growth. Due to increased public awareness of animal cruelty and the negative environmental effects of the dairy industry, consumers are increasingly selecting products that are made from plants.
Egg-free mayonnaise often contains less fat and is gluten-free than normal mayonnaise. One of the main factors driving the market expansion is the huge increase in the consumption of ready-to-eat (RTE) packaged vegan food and drinks as well as gluten-free and plant-based diets.
Cheese, mint, lime, BBQ, chipotle, and tandoori flavors are being introduced by product manufacturers. Given the growing popularity of veganism and vegetarian diets, they are also focusing on launching vegan, organic, and egg-free variants.
The expansion of organized distribution channels such as hypermarkets, supermarkets, convenience stores, grocery stores, and online shopping applications is providing industry players with lucrative growth opportunities.
In the upcoming years, it is anticipated that protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms is likely to have a positive impact on egg-free mayonnaise sales.
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Key Takeaways from the Egg-Free Mayonnaise market
• From 2023 to 2033, China is anticipated to experience the fastest CAGR of 7.1%. In the approaching years, it is anticipated that the rising demand for plant-based bakery and confectionary products in the region would drive the sale of goods.
• Supermarkets and hypermarkets, among other distribution channels, are expected to grow significantly and capture a commanding market share of 46.3% due to their presentation, availability of a wide variety on the shelves, and ease of access to consumers. The discounts provided by supermarkets and hypermarkets are expected to boost sales of egg-free mayonnaise through this channel.
• Due to a larger consumer base and more retail vegan outlets than any other region, the US is anticipated to contribute a significant revenue share of US$ 1,532.0 in the egg-free mayonnaise market. Several new regional companies are entering the market, each with their own unique flavor of egg-free vegan mayonnaise.
• From 2022 to 2030, the HoReca end-use segment is anticipated to experience the fastest CAGR of 4.5%. As flexitarian and vegan diets are becoming more and more popular, many restaurants, fast food chains, and casual dining establishments have started adding plant-based items and drinks to their menus.
Competitive Landscape
The global egg-free mayonnaise market is highly fragmented, with numerous vegan mayonnaise brands present. To increase product penetration, the companies invest heavily in product launches, distribution channels, and marketing strategies. They release products made from a variety of ingredients and for a variety of purposes, such as sandwich spread, nachos dipping, and so on. Furthermore, competitive strategies such as partnerships, mergers, acquisitions, joint ventures, and so on are prevalent in this market.
Latest Developments
Press’d Sandwich Shop in Canada announced the launch of two meat-free menu items using Gardein Chick’n in December 2020. The California Vegan and the Blazing Vegan are two of the inventive sandwich options, both of which include vegan mayo and vegan cheddar cheese.
Key Segments Covered in the Egg-Free Mayonnaise Market Report
By Nature:
• Organic
• Conventional
By End User:
• HoReCa
• Food Processors
• Household (Retail)
By Distribution Channel:
• Direct
• Indirect
o Hypermarket/ Supermarket
o Food and Drink Specialty Stores
o Convenience Store
o Discount Store
o Online Retail
By Price Range:
• Economy
• Premium
By Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific excluding Japan (APEJ)
• Japan
• Middle East & Africa (MEA)