Banyan Hill, an American online source of information for stocks and investment, has reported on the ongoing decline of the dairy industry, discussing that the market for almond drinks is on a corresponding incline, and citing almond milk as the “No.1 stock in the milennial alt-milk trend”.
The Banyan Hill article gives the example of a video posted on social media last week of a Minnesota dairy farmer, speaking emotionally about the financial struggles faced on a modern day dairy farm. The video has received over 400,000 views so far, amidst a vast decline which the publication describes as the dairy industry being “disruptified.” In 2017 the average income for a dairy farmer was $43,000, and this farmer now reportedly earns less than $15,000.
The dairy milk industry is on a steady decline; According to the Dairy Farmers of America (DFA), the sales of milk dropped by around $1.1 billion last year. Concurrently, the dairy alternatives market is now estimated to surpass USD 37.5 billion by 2025, according to a new research report by Global Market Insights.
Several dairy farmers across the state of California are apparantly adapting to this “disruptification” by making a transition to almond farming, according to the article. President and CEO of the Almond Board of California, says that dairy farmers are now “diversifying into almonds” as the most profitable way forward.
