Hilton Food Group recently reported that its vegan and vegetarian category grew 40% in the first half of 2022. Over a three-year period, Hilton’s total revenue rose 20.4% to £2,038.7M.
Hilton Foods is a company that processes, packs, and distributes meat and other protein products to UK and supermarkets, including Tesco.
According to the company, the rise in plant-based sales has been fuelled by flexitarian and vegetarian trends demanding alternative protein options. But with the continued disruption in global supply chains and rising inflation, Hilton says it has concerns for future profits.
“In the first half of the year, Hilton has further strengthened its position as the international protein partner of choice. We have continued to focus on our strategy of diversification and differentiation, driving a further increase in volumes, sales, and operating profit,” said Hilton Foods Chief Executive Philip Heffer.
Hilton Foods has been delivering meat-free foods to retail and food service for over 40 years. Its portfolio includes fresh and frozen products ranging from burger mince to chicken nuggets.
“Meat-free for many is a way of life, so we offer total convenience and choice, including meat-free replacement burgers, meatballs, cutlets, poultry, kievs, steaks, rashers, seafood, and sticks, fresh or frozen. And we can tailor our meat-free products to local markets, consumer segments, and price points,” explains the company.
As the vegan and vegetarian market will not stop growing, Hilton Food’s plans involve allocating funds for R&D for product development and innovation. Ready meals, vegan bakery, and better meat alternatives will be the next big step, according to the company.
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