Community
Print
Vegan milk brand Mighty Drinks has announced that it has entered administration.
The company, based in Leeds, UK, cited a number of challenges over the past year, including rising costs and “fragile consumer confidence.” According to the brand, these issues have affected its ability to scale and reach profitability.
James Clark and Howard Smith of Interpath have been appointed as joint administrators. “We will now work with the company’s stakeholders to explore the options available, including seeking offers for the business and its assets, including the Mighty brand and related intellectual property,” said Clark in a statement sent to Plant Based News. “We invite any parties who may be interested in acquiring the business to contact us as soon as possible.”
Read more: Asahi Launches ‘Like Milk,’ Japan’s First Yeast-Based Dairy-Free Beverage
Struggles in the plant-based sector
Mighty Drinks is one of several plant-based brands to face well-publicized challenges in recent months. In April, Bulgarian food firm Smart Organic rescued dairy-free chocolate company LoveRaw from administration after it experienced investment and supply chain difficulties. Similarly, in February, Ella Mills acquired vegan meal brand Allplants following what the company described as a “long, hard fight for survival.”
While some view these setbacks as signs of a declining plant-based market, others argue they reflect intensifying competition and market saturation. Over the past few years, the plant-based sector has seen a surge in business interest, resulting in an increasingly crowded landscape. Mighty Drinks operates in the particularly competitive dairy-free milk category, alongside major players like Oatly and Alpro.
Despite the recent struggles, animal-free diets continue to grow in the UK, with an estimated 4.7 percent of the population now following a plant-based lifestyle.
Read more: Nush Unveils Vegan Yogurt With 23g Protein Per Pot
