As consumers look to fuel their bodies with healthy products, the consumer packaged goods (CPG) market is seeing dairy alternatives as a segment that could fulfill their demands. In its April 2015 report titled “Dairy and Dairy Alternative Beverage Trends,” Packaged Facts estimates that U.S. retail for the category was $23.8 billion in 2014.
Although the dairy segment dominates the category with 80 percent market share, dairy alternatives steadily are gaining ground. The segment increased its market share from 14.5 percent in 2010 to 20 percent in 2014, the Rockville, Md.-based market research firm reports. This growth is projected to continue as Packaged Facts forecasts the category to reach $31.5 billion in 2019.