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.
“Packaged Facts projects the dairy and dairy alternative beverages market will reach $31.5 billion by 2019, up by about a third from its current level of nearly $23.8 billion [in 2015],” reports the Rockville, Md.-based market research firm in its April 2015 report “Dairy and Dairy Alternative Beverage Trends in the U.S.” “Growth should be steady and increasing as new and innovative products continue to enter the market and premium products achieve more widespread penetration in the market. The compound annual growth rate (CAGR) for the five-year period [2015-2019] would be 5.8 percent.”