Not exact matches
Indeed, market research firm Mintel predicts that US
dairy milk
sales overall will fall 11 % to $ 15.9 billion from 2015 through 2020, due in part to consumers reaching for other beverages, such as plant - based
dairy alternatives,
sales of which will grow from $ 2 billion to $ 3 billion by 2020.
As milk
alternatives made from almonds, coconut and some other decidedly non-
dairy sources increase in popularity,
dairy milk
sales continue on a downward spiral.
The market researcher's data showed that plant - based
dairy alternatives are the fast - growing category — with 20 % growth — topping $ 700m in
sales over the past year.
However,
sales of
dairy alternatives and lactose - free produce have benefited from increased marketing activity as well as improved availability in terms of variety and distribution.»
This was part of a general trend of
dairy alternatives, the market researcher firm said, with volume
sales of fresh
dairy cream declining by 2 % in the UK in the same two year period, and non-
dairy alternatives increasing 12 %.
I know that some vegans can have a hard time giving up certain meat or
dairy products, and there seems to be a plethora of vegan
alternatives for
sale.
With
sales of cow's milk on a consistent decline as consumers opt out of
dairy products for a variety of reasons, such as lactose intolerance, veganism and eco-mindfulness (milk does come from carbon footprint — heavy cows, after all), the market for
alternatives is fertile ground for food tech innovators like Ripple.