Case Study: Wicked Kitchen
Driving Innovation in the Plant-Based Food Market
A new, bold and innovative way for you to experience the power of mighty plant flavours unleashed
Company Overview:
Wicked Kitchen (WK) is a plant-based food company aiming to establish itself as the global leader in chef-curated plant-based foods. Initially functioning as an R&D engine for Tesco, a large UK grocery chain, WK developed products across various categories, with the goal of introducing plant-based options in every section of the store. With Tesco’s support, WK successfully launched over 150 products. While their products are vegan, WK primarily targets flexitarians, emphasising the taste and versatility of their offerings to appeal to meat eaters who incorporate plant-based meals into their diets.
Market Background:
The global market for plant-based food reached $40.2 billion in 2021 and is projected to reach $78.9 billion by 2028(Investment Memo, 2022), indicating significant growth opportunities. The plant-based ready meals segment is witnessing rapid growth, with UK supermarkets experiencing a 92% increase in available plant-based ready meals over the last year.
WK stands out in this market for several reasons. Firstly, their products have a unique gourmet touch as they are crafted by co-founders Chad and Derek Sarno, both experienced chefs. This adds a special appeal to their offerings. Additionally, WK has established a global supply chain with over 30 co-manufacturing partners. To further expand their market presence and product range, WK recently acquired the Good Catch brand, a well-known producer of plant-based seafood in the US. This acquisition provides WK with established distribution channels and a stronger foothold in the market.
Social & Environmental Impact:
WK, like other plant-based food companies, has positive climate and environmental impacts. By offering 100% plant-based products, WK significantly reduces greenhouse gas emissions, water usage, and land consumption compared to animal-derived meat and dairy products. Studies show that plant-based meat emits 30%-90% less greenhouse gas and utilises 47%-99% less land than conventional meat. Furthermore, plant-based meat requires 72%-99% less water. By reducing reliance on animal agriculture, WK contributes to mitigating deforestation, animal waste disposal, and nitrogen runoff, further minimising environmental damage.
Conclusion:
Wicked Kitchen (WK) is on track to become a worldwide leader in the plant-based food industry and you can learn more at wickedkitchen.com. The market for plant-based food is expanding rapidly and offers significant prospects in the future. To discover more about supporting companies like WK, please get in touch with us. Together, we can make a positive impact on the planet.
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