British food company Quorn has increased its production capacity by 50pc to meet the increasing global demand for non-meat foods.
The company, which The Sunday Telegraph reported is at the centre of a £500m takeover battle between frozen food giants Nomad and McCain, said sales grew by 7pc in the past six months, as it increased its international presence to supply 16 countries around the world.
Sales in the lucrative US market grew by 30pc last year, after the firm increased its product lines in a number of major US retailers including Walmart.
“There is a growing trend towards meat reduction around the world and as more consumers turn to alternative sources of protein, Quorn has seen a growth in sales globally. The US market in particular is waking up to the opportunity beyond meat free burgers,” said Kevin Brennan, the company’s chief executive.
Quorn’s turnover rose by almost 7pc last year to £150.3m and the firm recently spent £30m upgrading its Billingham production plant near Middlesbrough. The company makes 22,000 tonnes of mycoprotein, the core ingredient of its meat-free products, each year at Billingham.
Mycoprotein, which is produced from fermented fungus and sugar, is used to fill Quorn’s meat-free mince, nuggets, burgers and sausages.
By Elizabeth Anderson
Source: The Telegraph
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.