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Quorn Foods Achieves 16% Global Growth in 2017

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Quorn Foods Achieves 16% Global Growth in 2017

Quorn Foods Achieves 16% Global Growth in 2017
February 07
09:35 2018

Quorn Foods, which offers a range of products to appeal to the rapidly expanding group of people wanting to reduce their meat consumption, has announced unprecedented results for 2017, with sales totalling £205 million for the year. With its UK headquarters in Stokesley, North Yorkshire, Quorn Foods employs around 600 people and exports to 20 countries around the world, including Australia, South Africa and the USA. Quorn™ is one of the UK’s top 40 FMCG brands. Quorn Foods is the trading name of Marlow Foods. Quorn Foods encompasses all international operations of Quorn™ and Cauldron™.

Quorn Foods achieved its strongest ever year of growth in 2017, with an overall growth rate globally of 16%[1]. The sustainable and healthy protein company is aiming to become a billion dollar business by 2027.

The company’s billion-dollar ambition is grounded in the fact that many consumers are now choosing to eat less meat for a combination of reasons. Whilst health is the leading factor, demand is accelerating due to an increased awareness of the environmental impact of meat production. This is leading to a reduction in meat consumption, and in many cases, to a complete shift to vegan diets, underlined by the growing popularity of Veganuary which is now expected to have over 150,000 registered followers globally[2].

Kevin Brennan, chief executive of Quorn Foods.

“Around the world we are seeing a significant increase in meat-reduction diets, including both flexitarianism and veganism. The vegan trend is something that Quorn Foods is responding to with the launch of more and more vegan products such as Quorn™ Vegan Chicken-free Slices, Quorn™ Vegan Hot and Spicy Burger, and Quorn™ Vegan Fishless Fingers, which are winning around the world,” explains Kevin Brennan, chief executive of Quorn Foods.

He adds: “I am extremely proud of our growth and the quality of our foods that underpins that growth. At Quorn Foods we continue to take a long term view and we plan to invest heavily into the meat-free category and maintain double-digit growth rates.”

Investment in international expansion has paid off with strong growth in Europe (+27%) and beyond. In the US, the biggest export market for Quorn™, growth in the grocery sector accelerated to 35% in 2017. Quorn™ Chicken Style Nuggets are the fastest selling product within the meat-free category at US supermarket giant, Kroger. In addition, Australia continues to enjoy 35% growth, with Quorn™ Vegan products the fastest selling in the category. This ensures business resilience to the political and economic fallout of any Brexit deal.

[1] Quorn™ growth equals 15.1% for 2017, Cauldron™ growth 30.4% for 2017, Cauldron™ accounts for 8.5% of total sales for 2017 (up from 7.6% in 2016)

[2] http://www.veganfoodandliving.com/veganuary-2018-record-breaking-year-over-150000-people-taking-part/

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