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Lotus Bakeries reports 13% growth in 2021

The Lotus Bakeries Group’s turnover increased by 13.1% to EUR 750.3m in 2021, the company’s annual results show. All three ranges contributed to the EUR 87m increase: Lotus Biscoff®, Lotus Natural Foods™ and Lotus Local Heroes.

Lotus Biscoff®, the group’s first and largest category, grew by 15%, enjoying the effect of the hospitality sector’s reopening in the first half of last year, as well air traffic resuming in the US. “In the second half of the year, the international expansion of Lotus Biscoff® Cookies, Lotus Biscoff® Spread and Lotus Biscoff® Ice Cream continued unabated. This year saw double-digit growth in the large consumer markets of the US, the UK China, Korea, Germany, Spain, Italy, Canada and Australia, among other areas,” the management stated in the report. Lotus Biscoff® Cookies rose to seventh place in the top 10 of the global Cookie Brand ranking in 2021.

Lotus Biscoff

Following an initial launch in four countries in 2020, the Lotus Biscoff® Sandwich Cookie was rolled out further internationally in 2021. It is currently sold in 25 countries and “is a major booster for Lotus Biscoff®’s incremental penetration in each country,” Lotus Bakeries says. In the second half of 2022, a new production line will become operational in the Belgian factory in Lembeke, to support the strong growth of the Lotus Biscoff® Sandwich Cookie. Lotus Biscoff® Spread and Lotus Biscoff® Ice Cream also experienced strong growth in 2021. Following the initial launch of Lotus Biscoff® Chocolate in Belgium, this will also be available on international markets from 2022, starting with the UK, the US, France and the Netherlands.

Natural Foods

The Lotus Natural Foods™ range recorded slightly negative growth was still recorded in the first two months of 2021 due to the tightening of lockdowns. However, it started to record growth from March onwards, to reach 25% growth in the second half of the year.

“Thus, Lotus Natural Foods™ realized a turnover of more than EUR 140m in 2021,” the management shared. The international Lotus Natural Foods™ business outside the UK has grown by around 40% and now represents 26% of total Lotus Natural Foods™ sales.

Local heroes

Lotus Bakeries also focuses on ‘local heroes’ in the home markets of Belgium, the Netherlands, France and Sweden. This category saw growth of more than 3% in 2021. “The waffle assortment grew strongly once more in both Belgium and France. The Liège waffle is performing particularly well, supported by media campaigns in both countries,” the management stated.

The Dinasaurs range also saw double-digit growth, with the addition of the new Filled Dinasaurs cookies. Sales for Annas Pepparkakor continued to grow in 2021, remaining the undisputed market leader for the pepparkakor cookies category in Sweden, following growth upwards of 20%. In the gingerbread segment, following the negative impact of the lockdowns in the first quarter, the on-the-go gingerbread brand Snelle Jelle recovered significantly. Koninklijke Peijnenburg saw its market share increase slightly in the gingerbread category. As its turnover stabilized Peijnenburg’s, investments are planned for the gingerbread category.