Plant Based Dairy Alternative Market May Show High Growth due to Growing Adoption of Plant Based Milk
Plant-based companies continue to gain popularity, a momentum that has been on a consistent rise for several years. Now, the food market is experiencing a different tug of war, with all outlets fighting to provide new innovative vegan alternatives such as almond, hemp, bananas, cashew, oats, and coconut to its customers. These new products provide such an authentic taste that consumers who are worried about avoiding added preservatives and hormones present in dairy milk can willingly choose the alternatives. They get their choice of taste, thickness, and texture, so it is not hard for them to shift towards more environmentally friendly products with less fat content and a good amount of proteins.
Studies have linked dairy milk with a high risk of breast cancer, and as a result, many consumers are set on avoiding estrogens present in cow’s milk and want to go for a whole-food, plant-based diet. Hence, consumers are now leaning towards products like oat milk or almond milk instead of regular cow milk. A recent study also indicated that traditional dairy sales are continuously falling while the sale of plant-based milk has gone through the roof and is showing no sign of slowing down.
A recent study has brought an interesting observation for the Plant-Based Dairy Alternative Market that continuous increase in the sale of plant-based milk is directly affecting the sale of cow milk. It reveals that consumers have started stepping away from dairy and shifting towards a more nutritious, sustainable alternative.
The report was made by (Economic Research Service) ERS in a merger with USDA to recognize the plant-based milk impact on the milk market. The ERS followed dairy milk sales and planted milk from 2013 to 2017 to understand the exact relationship between the two industries.
It was stated that the sale of cow milk is significantly higher than that of plant milk; however, plant milk is steadily increasing its sale based on – to – one replacement for dairy milk in US households. The study noted that, on average, dairy milk declined at 12% from 0.41 gallons per household to 0.36 per household in the year 2017. In contrast, plant-based milk sales increased by 36%, from 0.28 gallons per household to 0.38. Although these statistics are small, they are quite impactful on both plant-based and dairy-based industries.
Even though the report does not suggest that plant-based milk is the sole driver for the decline of dairy-based milk, that does not mean it has no impact. According to the report, it is evident that the American population is slowly opening towards the possibility of using plant-based alternatives in their diets. This shift in trend is great for the plant-based industry, which has great growth potential.
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