Monde Nissin’s Quorn brand hit by 'strong headwinds'

Quorn's parent company sees softness in the alt-meat market in US and UK.  

Monde Nissin Corp. is reporting an income drop in the first quarter as the Philippines-based owner of the fungi-based Quorn brand’s alt-meat business struggled.

Meat alternative revenue fell 4.3% in the three-month period ending March 31, with the UK and US falling 1.9% and 33.6% on an organic basis, respectively, due to the challenging retail market, the…