Tofu company cooks up a storm with £1m Veganuary turnover
A Yorkshire food manufacturer has announced that its turnover for January was more than doubled from last year.
The Tofoo Co., which is based in Malton, reported that its turnover in January 2020 was more than £1m, which is more than the entire turnover it generated in 2016.
The company, which specialises in tofu, launched three new products in January and is planning for more throughout the year.
The increase in turnover coincided with the ‘Veganuary’ trend, in which people follow a vegan diet for the month of January.
Tofoo highlighted in its report that new Nielsen data showed that the total tofu category outgrew the total meat-free category by 8 per cent, being worth £3.1m in January 2020.
David Knibbs, founder and managing director of The Tofoo Co., commented: “Our January turnover coupled with the Nielsen data released in January 2020 paints a very positive and accurate picture of the tofu category.
“Trends suggest that tofu is now being considered as a stand-alone ‘real food’ ingredient, not a fake-meat alternative – a great example of the growing importance of tofu to the overall meat-free category is the top two selling products in the meat-free market in January were both tofu products.
“The Tofoo Co. is now the category’s number one tofu brand currently worth £10.6m and growing at 67 per cent; we’re also the fourth largest brand overall in the meat-free category.
“We’re delighted that the latest four-week data saw The Tofoo Co.’s brand growth at 88 per cent, which highlights that more people are buying tofu than ever before.”
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