A recent study has found that between 2015 and 2019, dairy volumes slumped by around 300 million gallons, while consumption of plant-based alternatives saw a rise of around 50 million gallons. As per the Food Industry Association, around 30% of households are home to vegan, vegetarian, flexitarian, or pescatarian consumers, and this is leading to increased variety in retail.
decline of dairy
Oat Drinks Market to Reach US$698.8, Likely to Emerge as Popular Alternative as Dairy Declines
The global oat drinks market size is expected to reach US$698.8 Mn by the end of 2027 from US$ 372.5 Mn in 2019. According to a recent study, the market will rise at an impressive 8.2% CAGR between 2019 and 2027. Recent months have seen oat-based releases from Dunkin, Oatly, Chobani, MALK and Oath amongst others.
Dairy Alternatives Market to Accrue Remarkable Proceeds 2019 – 2025
Dairy Alternatives Market is estimated to surpass USD 37.5 billion by 2025; according to a new research report by Global Market Insights, Inc.
Dairy Milk Sales Drop By $1.1 Billion
The dairy industry is seeing a significant drop in sales of cows’ milk as plant-based alternatives are becoming more and more popular amongst consumers.