Although more consumers are doing their best to trade sugary beverages for healthier options, one thing they’re not willing to sacrifice is taste, says Bob Yates, president and chief executive officer for Pulse Beverage Corp., Denver.
According to Chicago-based Mintel’s April 2013 report “Dairy and Non-dairy Milk – US,” the “other milk” segment, which includes ready-to-drink milk or milk substitutes, refrigerated kefir/milk substitutes/soy milk, and refrigerated milkshakes/non-dairy drinks, makes up 7.3 percent of the total U.S. dairy and non-dairy milk market. This represents a more than 30 percent increase in market share since 2010, it reports. Mintel also predicts that this category will continue to see growth through 2017 to reach nearly $2.9 billion in sales.
The old saying that “An apple a day keeps the doctor away” might someday transition to “A supplement a day keeps the doctor away” as topics such as the U.S. obesity rate, an aging baby boomer generation, and increased energy/alertness continue to bring attention to the nutritional/dietary supplement segment, according to market research firms.