Although the dairy and dairy alternatives market is expected to see decelerated growth, innovation with a variety of plant-based alternatives is expected to continue to drive the category going forward, experts say. New York-based Beverage Marketing Corporation notes that the dairy milk market has experienced continuous declines throughout the past several years in its December 2016 report titled “U.S. Milk and Dairy Beverages through 2020.”
Despite seeing significant growth during the 2010-2015 timeframe, the dairy and dairy alternatives category has seen a deceleration in growth, according to experts. Although the growth will be at a slower pace, the category still is expected to continue gaining share in the beverage market going forward.
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.
Recently, plant-based dairy alternatives such as almond milk and coconut milk are taking their success mainstream. Although soy milk has been an option available at major coffeehouses for years, only recently did almond and coconut milk begin making an appearance.
Protypes designed to encourage formulation conversations
April 15, 2015
Bulk tropical fruit juices, purees and concentrates supplier iTi Tropicals Inc. announced the availability of six custom coconut water and coconut milk prototype blends specifically designed to stimulate research and development and to initiate a creative dialog.