A major vegan food producer saw its retail sales skyrocket by more than 211 percent in 2019.
The Fry Family Food Co., whose sales reached more than £5.6 million, is now estimated to be worth £474.5 million.
According to the company, it’s year-on-year growth is ‘among the highest recorded in the UK’s booming meat-free industry’ which is now estimated to be worth £474.5 million.
On major shelves
“Fry’s recent success, which has outstripped many of the biggest meat-free brands, can in part be explained by its arrival on the shelves of major UK food retailers,” a spokesperson said in a statement sent to Plant Based News.
“In late 2018, Sainsbury’s began selling the Fry’s range as the supermarket looked to offer more choice across its meat-free category.
“This deal set the foundations for a strong retail performance over the following 12 months, with Tesco, taking the brand into its range in late 2019. The new retail launches complemented Fry’s existing listings in Morrisons and Holland and Barrett.”
The company expects to see growth continue in this year, with the expansion of its offering, as well as increasing interest in plant-based food.
Recent data compiled by market analyst Mintel revealed that 39 percent of Brits now self-identify as meat-reducers (up from 28 percent in 2017) – with 65 percent now eating meat alternatives (up from 50 percent in 2017).
“It’s exciting to see the business achieve so much in such a competitive market,” Tammy Fry, International Marketing Director at The Fry Family Food Co, said in a statement sent to Plant Based News.
“These figures demonstrate a 30-year commitment to providing high-quality meat-free products that people enjoy.
“We will continue to expand our range and look for new retail opportunities as vegetarian and vegan food firmly enters the mainstream.”