The world meat-free market is expected to reach £4bn by 2020 with 28% of Brits identifying as meat reducers. Hooba Foods have created a super-tasty meat-free range of foods with a superior texture. From their initial launch in Jan 2017, they now supply to foodservice & retail outlets throughout the UK.
According to the WWF, global meat production is the driving force behind wide-scale biodiversity loss. They recommend a reduction in the amount of meat in our diets and this message is already resonating, with 44% of Brits committed to or willing to reduce the amount of meat in their diets according to a YouGov report. But the solution to finding an ‘as good as’ alternative has been elusive.
Over the past two years we have been striving to make a viable ‘meat-free’ product range of sausages, burgers, meat-free balls, meat-free bites and pulled Hooba, by skilfully blending carefully selected mushrooms. Amazing feedback from our online shop customers and our food trade clients, indicates we now have the recipe, flavour and critically, the ‘meaty’ texture exactly right.
We supply the retail, manufacturing and foodservice markets, and sales revenues have grown by 286% in the financial year to date (EBITDA £-50,441). We are currently in talks with a national retailer and hope to announce the launch date in the next month. We are also experiencing interest from other food manufacturers to use our range in their own products.
According to The Meat Substitute Market Report by Allied Market Research the global meat-free market will be worth £4bn by 2020 and is a key industry growth trend.
We intend to use investment to expand our operations and follow up on interest from Europe and the USA.