Distribution agreement signed
Scots-based Daring Foods secures first deal for vegan range
Vegan ambitions: Eliott Kessas (left) and Ross Mackay
A Scottish start-up is aiming to cash in on the growth of the vegan food market after securing a debut distribution deal.
Daring Foods has signed an agreement with Lomond Fine Foods which will see its range in 300 locations in the first quarter of 2019.
The company has also created menus for the food service industry that will be available in 35 locations across Scotland by the end of January. This number is anticipated to reach 1,000 by the end of the year.
The Glasgow-based company is poised to announce a deal with one of the UK’s biggest supermarket chains, which will see the meat alternative range available to consumers across the UK.
Daring Foods has increased production at its research and development facility in Europe, as start-up co-founders – entrepreneur Ross Mackay and business partner Eliott Kessas, a former corporate banker from Paris – target year one revenues of more than £7 million.
Mr Mackay said the partnership with Lomond Fine Foods represents the first step in Daring Foods becoming “one of the UK’s fastest-growing food firms and a major force in the plant-based food market.”
He said: “The market is there for the taking.”
Sam Henderson, managing director, Lomond Fine Foods, said: “Caterers across all sectors are being asked for products that fit vegan, religious or health constraints. In partnership with Daring Foods, Lomond Foods is confident sales will rise dramatically throughout 2019 and beyond.”
By 2020, it is anticipated Daring Foods will have supplied the equivalent of 10% of the UK population with plant-based food options, in-turn driving a further boom of the UK plant-based food market, which grew by 700% last year.
The Scottish start up is currently working with business advisory firm Johnston Carmichael to facilitate and plan for the high levels of expected growth this year and beyond.
Adam Hardie, business development partner and head of food and drink at Johnston Carmichael, said: Plant-based foods are one of the world’s fastest growing new categories in food and drink and I expect this to continue through 2019.”
- In 2017, 35% of people considered themselves to be “semi-vegetarian”
- In 2018, veganism became the number one food trend
- There are 22million “flexitarians” in the UK
- Last year, the UK plant-based food market grew by 700%
- Average person in the UK currently eats 84 kilos of meat a year
- 50% of the UK now choose plant-based food options more than three times per week when conduct(Research: Mintel)