Experts expect the value of the milk alternatives market to exceed US $ 24 billion by 2025. In 2017, the market for milk alternatives was estimated at 9.8 billion US dollars. The milk alternatives sector is growing with a compound annual growth rate (CAGR) of 12.4 percent, whilst global demand for dairy products is increasing by 2.5 percent, according to analyst Tom Bailey.
Tom Bailey
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What the Dairy Industry Can Learn From Plant-Based Alternatives
A recent study by RaboResearch, entitled “Dare Not to Dairy: What the Rise of Dairy-Free Means for Dairy… and How the Industry Can Respond”, looks at the current situation in the dairy industry and increasing competition from alternative plant-based products. The aim of the study was to find out to what extent this sector is changing and what the dairy industry can learn from the success of its competitors.