As consumers look to fuel their bodies with healthy products, the consumer packaged goods (CPG) market is seeing dairy alternatives as a market that could fulfill that trend. In its April 2015 report titled “Dairy and Dairy Alternative Beverage Trends,” Packaged Facts estimates that U.S. retail for the category was $24 billion in 2014, representing a 4 percent increase from 2013.
Although the dairy segment dominates the dairy and dairy alternatives 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, Packaged Facts reports. This growth is projected to continue as the Rockville, Md.-based market research firm forecasts the category to reach $31.5 billion in 2019.