Danone North America has reported that dairy alternatives are responsible for increased revenue from the first quarter of this year, and in the First-Quarter Sales Report, a 4.9 per cent ‘like-for-like’ growth for the year so far was reported.
In the report it states: “Plant based foods and beverages again delivered strong sales growth, driven by the ongoing rebound in nut-based beverages, successful media and marketing campaigns and premium innovations (Silk prebiotics, almond and cashew milks, SoDelicious crafted organic almond milk). Vega nutritional products grew presence and market share.”
It is also noted that Premium Dairy “continued to decline strongly in the first quarter” and the sales of yoghurt declined slightly. According to data from the USDA, milk consumption has been declining steadily since the 1970s and Mintel reported that non-dairy alternatives sales increased by 61 per cent during 2012 to 2017.
The plant based milk market is expected to be worth $16 billion by the end of 2018, and it is estimated that half of US dairy drinkers also purchase non-dairy milks, as veganism continues to rise.