One the nation’s leading producers of eggs, Cal-Maine, has cited a consumer shift toward plant-based egg options as a reason its profits are dropping!
The company has stated a $74.3 million loss for the 2017 fiscal year and stocks are down by 22%, as it produces more eggs than it can sell. CNBC reports:
“A surge in the popularity of egg alternatives — such as flax seed, silken tofu or a replacement made of potato and tapioca — are cutting into Cal-Maine’s demand. [CEO Dolph] Baker says those vegan-friendly options exacerbate the oversupply, pushing prices down further.”
Compassion Over Killing’s undercover investigations have exposed time and time again the immense suffering of birds in the egg industry, and through legal advocacy, we have cracked open the truth behind “Animal Care Certified” egg labels misleading consumers.
The global egg alternatives market is only expected to continue soaring, reaching $1.5 billion by 2026 as consumers choose kinder, healthier options.
The best way each of us can help hens is to leave their eggs out of our shopping carts. Discover delicious egg-free products and recipes today!