The Tofoo Co.'s turnover in January 2020 exceeded £1 million, over double its turnover in January 2019.
Tofu brand The Tofoo Co., has revealed that its turnover in January 2020 exceeded £1 million after record numbers pledged to go vegan this January.
This impressive figure is over double its turnover in January 2019 and surpasses the turnover generated in the whole of 2016 showing a growing demand from consumers for plant-based products to replace meat.
Encouragingly, statistics from Neilsen show that in January 2020, the tofu category was worth £3.1m and grew by 43%, versus the overall meat-free market which was worth £23.4m and grew by 35%.
In January alone, The Tofoo Co. launched three new products and has a number of exciting new product launches planned following the launch of its crispy Southern-fried tofu bites in 2019.
The Tofoo Co. is run by husband and wife team David Knibbs and Lydia Smith and started out as a small, family-run business only four years ago and has since grown rapidly to over 70 employees with products now sold in major UK supermarkets.
In a statement sent to Vegan Food & Living, David Knibbs, founder and managing director of The Tofoo Co., said: “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.”
All data is from Neilsen Scantrack week ending 25th January 2020