High-protein breakfast brand Fuel10K has posted huge growth to hit annual sales of £18.5m.

Sales in the year to 31 March 2023 were up almost £4.9m year on year, representing growth of 36%.

The brand’s growth was boosted by its debut in leading UK supermarket stockists, including Costco, Greggs, Iceland and Waitrose.

Its existing customer base accounted for about 80% of the company’s growth in the year.

However, it said it had faced challenges posed by food inflation, cost of materials and market fluctuations.

The company said that 2022/23 was an “exceptionally challenging” year with unprecedented increases in its costs, but it continued to be profitable.

“Throughout the year we worked to mitigate these cost rises balancing the need to be commercially sustainable whilst continuing to offer great value to our consumers,” Fuel10K MD Scott Chassels commented.

 “Our opportunity is to grow into more stores with our core range,” he added. “We remain fixed on our mission of fuelling individuals with the energy they need to get up and on with their day.”

“We see ourselves more as consumer nutrition or functional health, where people want something that’s a little bit healthier, more in it and more practical for your health.”

Fuel10K granola is now the fourth biggest brand in the UK breakfast category overall, while breakfast drinks gained a 34% category share up from 26% and the brand’s porridge pots have seen retail growth of almost 50%.

The B Corp company has donated almost 1.5 million portions of porridge to FareShare in the last three years and has boosted its sustainability credentials with the launch of recyclable porridge sachets and drinks-on-the-go with tethered caps.