Quorn’s parent company suffers £63m loss as plant-based bubble bursts

[tje]

Quorn’s parent company suffers £63m loss as plant-based bubble bursts​

Marlow Foods cuts 100 jobs as hard-up shoppers snub expensive alternatives to meat .

The parent company of Quorn has plunged to a £63m loss amid a slowdown in demand for plant-based products.

Marlow Foods sank deeper into the red during the last financial year, as sales fell by 6.9pc to hit £205m, which led to almost 100 jobs being shed as part of a restructuring programme.

It comes amid a broader slump in the popularity of veganism across the UK, as costly plant-based products fall increasingly out of favour among hard-up shoppers. According to Marlow Foods’ latest accounts, Quorn’s sales across retailers fell by 8.6pc in the 12 months to December 2023. .

Quorn’s parent company suffers £63m loss as plant-based bubble bursts

Marlow Foods cuts 100 jobs as hard-up shoppers snub expensive alternatives to meat

www.telegraph.co.uk

In the 12 months to December 2023, Marlow Foods sales fell by 6.9% to £205m, its lowest levels since 2017 – a slump that resulted in the parent company being forced to axe almost 100 jobs as part of an internal restructuring.


The decline was seen especially in its performance in supermarkets, with retail sales falling 8.6% to £170.7m .

Quorn-owners swings to loss as sales fall to lowest levels since 2017

Plant-based Quorn owners Marlow Foods has been hit with a £63m loss following weaker demand for vegan products.

www.grocerygazette.co.uk

 

[jondear]

Made my day .
The media make it sound like it's the reverse .

 

[steveR]

And yet Dale Vince is still evangelising his Vegan lifestyle, and trying to get the Govt to stop the compulsory serving of meat and dairy products in school meals for 3 (???) days per week.

 

[britt]

They blame "hard up shoppers", but there is a lot of publicity about ultra processed foods now, and I suspect this is the main reason for people turning away from such foods. Also Quorn has to bee the ultimate "factory food" as it's never seen daylight, grown in a vat in a building.
Given that the vegan movement purports to want simple, environmentally friendly food, Quorn fails on both counts.

 

[serf]

 

[Yale]

That’s interesting, it’s like the fake foods demise has rubbed off on Quorn and damaged its previous untouchable sales.

Reality is it’s processed fungus!

 

[Nearly]

And yet Dale Vince is still evangelising his Vegan lifestyle, and trying to get the Govt to stop the compulsory serving of meat and dairy products in school meals for 3 (???) days per week.

To sell more fungus stuff and save the company, because it's not going to save the world.

 

[zero]

Pruteen sample | Science Museum Group Collection

A small sample of the ICI synthetic single cell protein "Pruteen". Developed at the ICI Pruteen plant in Billingham, Stockton-on-Tees. The sample consists of small spherical pellets of brown, processed microbial protein material. The sample is contained within a small, rectangular plastic pouch...

collection.sciencemuseumgroup.org.uk

Can't really see why anyone would want to buy Quorn..

 

[texelburger]

And yet Dale Vince is still evangelising his Vegan lifestyle, and trying to get the Govt to stop the compulsory serving of meat and dairy products in school meals for 3 (???) days per week.

I listened to one of his interviews a while back and he came over as a total plonker.He would have no understanding of pasture reared livestock and the science which tells you that it sequests 100 times the carbon that livestock emit.He probably ,also,has no understanding of the increase in wildlife that grass creates and,conversely,their loss in cropping for plant based foods.
I got a feeling that he may of participated in a few substances during his life.

 

[som farmer]

with a 'cost of living crisis', people cannot really afford 'trendy' food fads. There will always be the hardcore supporters, as their will be with vegie's. But a proportion will see the 'light' and return to good wholesome food.

ultra processed foods, have been proven to be damaging to health, and l can see plenty of reasons to avoid them, but you do not see warnings over that.

those foods, should be banned, but they are not, and are fed to millions of people, including children, every day.

money obviously talks.

 

[Welderloon]

As food prices slowly creep up the general public outwith the hardcore PETA brigade will rather eat real food over Frankenfoods like Tumour'meat' & Fungal 'Quorn' also, now that sustainability is the buzzword who wants to eat crap fake food with poor ingredients most of which have been shipped 000's of miles.

 

[SilliamWhale]

And yet Dale Vince is still evangelising his Vegan lifestyle, and trying to get the Govt to stop the compulsory serving of meat and dairy products in school meals for 3 (???) days per week.

Yes because he wants his company to win the supply contracts

 

[Will Blackburn]

I would like to think that whilst, beef is expensive like Quorn, if you’re going to spend your hard earned you may as well enjoy it and know it’s natural and good for you.

 

[Bongodog]

Oh dear how sad . .......... never mind

 

[Y Fan Wen]

I have noticed that the fake milk section at Lidl (which is our most convenient shop) seems to get bigger with more choice every month.

 

[PSQ]

I have noticed that the fake milk section at Lidl (which is our most convenient shop) seems to get bigger with more choice every month.

Ah yes, 'saving the planet' by importing a counterfeit 'milk' made with water, oat flour, rape oil and an emulsifying agent; and trucking it 1000 miles to the UK all the way from Barcelona in Spain. It's manufactured by those darlings of the green revolution, Califia Farms, who make a bit of a thing of their environmental credentials, despite being part owned by the Qatari Investment Authority, who are so green that they also own 7% of Shell, and 17% of the VW Group, and who wish right now that they didn't own 100% of Harrods.

 

[yoki]

They blame "hard up shoppers", but I there is a lot of publicity about ultra processed foods now, and I suspect this is the main reason for people turning away from such foods. Also Quorn has to bee the ultimate "factory food" as it's never seen daylight, grown in a vat in a building.
Given that the vegan movement purports to want simple, environmentally friendly food, Quorn fails on both counts.

I agree.

If they were that "hard up" they'd be buying more basic ingredients and cooking themselves as opposed to ready meals and takeaways, both of which seem to be steadily increasing.

 

[Top Tip.]

I think the ultra processed food getting such a bad rep in the mainstream press will have a had as much of an effect on sales as anything.

 

[Hfd Cattle]

Quorn’s parent company suffers £63m loss as plant-based bubble bursts​

Marlow Foods cuts 100 jobs as hard-up shoppers snub expensive alternatives to meat .

The parent company of Quorn has plunged to a £63m loss amid a slowdown in demand for plant-based products.

Marlow Foods sank deeper into the red during the last financial year, as sales fell by 6.9pc to hit £205m, which led to almost 100 jobs being shed as part of a restructuring programme.

It comes amid a broader slump in the popularity of veganism across the UK, as costly plant-based products fall increasingly out of favour among hard-up shoppers. According to Marlow Foods’ latest accounts, Quorn’s sales across retailers fell by 8.6pc in the 12 months to December 2023. .

Quorn’s parent company suffers £63m loss as plant-based bubble bursts

Marlow Foods cuts 100 jobs as hard-up shoppers snub expensive alternatives to meat

www.telegraph.co.uk

In the 12 months to December 2023, Marlow Foods sales fell by 6.9% to £205m, its lowest levels since 2017 – a slump that resulted in the parent company being forced to axe almost 100 jobs as part of an internal restructuring.


The decline was seen especially in its performance in supermarkets, with retail sales falling 8.6% to £170.7m .

Quorn-owners swings to loss as sales fall to lowest levels since 2017

Plant-based Quorn owners Marlow Foods has been hit with a £63m loss following weaker demand for vegan products.

www.grocerygazette.co.uk

Good

 

[BrianV]

So nice to have some good news with all this rain.