Marlow Foods, the parent company of Quorn, experienced a £63m loss as demand for plant-based alternatives declines, reflecting shifting consumer preferences.
CEO Marco Bertacca noted that high inflation and production costs pressured consumers, saying, 'Twenty twenty-three was a challenging year where high inflation and interest rates continued to put pressure...'.
Bertacca expressed optimism about Quorn's mycoprotein technology, asserting, 'We truly believe that there's nothing quite like mycoprotein. Fungi and fermentation can be the protein solution the planet needs.'
The downturn in the plant-based market has led to significant losses for various brands, exemplified by a 9.7% decline in sales of chilled meat alternatives.
Collection
[
|
...
]