Betting On A Guilt Free Egg
At stake is a potential market of millions of disaffected egg eaters. Annual U.S. egg consumption has plummeted from 309 per person in 1970 to 234 in 1990, largely because of fears of cholesterol. Seeking alternatives, consumers now shell out about $125 million annually on cholesterol- and fat-free egg-white products; the most popular is Egg Beaters, introduced in 1973 by Nabisco, which has grabbed 51 percent of the market. But Michael Foods’ chief executive officer Richard Olson, who has built it into a $455 million firm in five years, contends that sales of egg-white alternatives have been hampered by the fact that the yolkless products are bland imitations of the real item....