Dairy-alternative foods and beverages appeal to a wide range of consumers including those with lactose intolerance, dairy-free consumers (vegans), those who don’t prefer dairy-laden products and those looking to venture out and try new flavors such as almond, soy or cashew milk. Moreover, dairy-alternative foods and beverages are boosting consumers’ eating experiences with fresh, unique flavors, enhanced texture and nutrient-dense applications, making for a future ripe with opportunity. What’s more, dairy-alternative products are popular deliverables for trending nutrients such as protein, fiber, prebiotics, probiotics, vitamins and minerals, and more.
U.S. retail sales for dairy and dairy alternative beverages reached $24 billion in 2014, representing a 4-percent increase from 2013. While sales increased for both segments, the past few years have seen the dairy alternative sector increasing its share of the overall market to now account for 20 percent of the industry. Sales of plant-based dairy alternatives, especially almond milk, show no signs of slowing and new alternative sources, such as coconut, cashews, hemp and seeds are expected to drive the alternative segment even higher over the next several years.
In this episode, INSIDER Managing Editors Rachel Adams and Judie Bizzozero discuss:
- Factors driving the growth of factors driving the growth of the dairy-alternatives market
- Market size for the dairy-alternative food and beverage sector
- Popular plant-based ingredients formulators are using in new product innovation in dairy alternatives
Links and Resources:
- The Next Generation of Dairy and Dairy Alternative Foods & Beverages
- Dairy Alternative Market Growth Led by Almond Milk
- Nut, Cereal Milks Gaining Popularity Among Dairy Alternatives
- Demand Booming for Plant-Based Proteins in Food, Beverages
- The Creamy Beverage Market: Dairy and Non-Dairy Drinks
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