Another day, another announcement of another product launching into the ever-growing vegan food market. Today it is the turn of Premier Foods, owners of iconic household brands – Mr Kipling, Oxo, Bisto gravy and Ambrosia. To the delight no doubt of vegans, it is vegan cakes and desserts.
There will also be vegan soups in the new range.
Current customer trends
No doubt in response to the marketing success of Greggs going headlong into the vegan market, Premier Foods is jumping in too. This is a response to what the company called “current customer trends”.
Premier Foods this week announced that “the products are planned for launch during this financial year in the Desserts, Cake and Soup categories. In terms of the supply chain, these products will be sourced from a combination of in-house manufacturing and co-manufacturer partners.”
The company has had some difficulties posting a £42.7 million loss. One shining light was a 12% rise in sales of the Mr Kipling brand. As well as that, the company recognised good performances by Ambrosia, Batchelors, Sharwood’s as well as its Soba noodles. The latter is a joint venture with the largest shareholder in Premier, the Japanese food company Nissin.
Mr Kipling does, of course, bake “exceedingly good cakes”. If the vegan cakes live up to the marketing slogan, there will be a lot of vegans celebrating. If the cakes are as good as that, I’ll go out of a limb and say that this launch will be exceedingly financially successful!