Trendy vegan brands are on the verge of disappearing after a sharp drop in demand for cruelty-free food and drink, experts predict
- The latest victim in the vegan market is Oatly, the Swedish oat milk company
- Heck, a Yorkshire sausage company, has reduced its vegan range
Experts predict the disappearance of trendy vegan brands after a sharp drop in demand for cruelty-free food and drinks.
The latest casualty in the floundering vegan market is Swedish oat milk company Oatly, which has had to withdraw its dairy-free ice cream in the UK, The Observer reported.
Yorkshire sausage maker Heck has reduced its vegan range from ten to just two.
Director Andrew Keeble said, “The public somehow wasn’t quite ready for it. They didn’t want all those vegetables in the sausage.’
Supermarket meat-free sales fell by £37.3 million in the year to September, NielsenIQ analysts found.
Experts predict the disappearance of trendy vegan brands after a sharp drop in demand for cruelty-free food and drinks. The latest victim is Oatly, the Swedish oat milk company
Yorkshire sausage maker Heck has reduced its vegan range from ten to just two
Other brands in the trendy sector now needing to slim down include Innocent, the smoothie maker, which discontinued its dairy-free range earlier this year.
According to NielsenIQ, customers appear to have started cutting back on meat substitutes as inflation increased.
Clive Black, an analyst at financial services company Shore Capital, told The Observer: ‘The real market is nowhere as big as some people hoped and some people accelerated. Reality begins to dawn.
“We looked with some disbelief at the number of businesses that were lured into this space and how much shelf space was given to them in the supermarkets.
“There will be some winners, but the numbers will be relatively small because we went through a bubble.”