North Yorkshire food manufacturer The Tofoo Co is targeting £20m turnover following an investment in its factory.
Since 2016 the Malton-basec company's turnover has increased from £600,000 to £14m with 93 full time staff members, and demand has continued to grow throughout 2020.
After spending £3m on the factory, The Tofoo Co has invested further in a new soy milk cooker which was commissioned, assembled and shipped from Japan to increase the factory capacity by 70 per cent and generate an additional 50 tonnes of plain tofu per week.
It is now aiming to grow turnover to almost £20m by 2021.
Managing director David Knibbs said: "The arrival and installation of the new milk cooker marks a further one million pound investment at the Tofoo factory. The new piece of equipment will support the business to increase its monthly turnover that currently sits at over £1m. "We're also expanding our operational output with packing hall machinery and pressing to ensure we have enough capacity to meet the anticipated high demand. "Trends suggest that interest in trying tofu has increased, and with cafés and restaurants currently closed, people are experimenting more with what they can cook at home. The tofu category penetration is continuing to increase, up 40 per cent compared to two years ago, and its share in meat free is growing month on month. "The category has also added over 500,000 households in one year, however there are currently 5.8 million households eating meat free who aren't trying tofu. The opportunity for growth within the sector is significant."
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