The dairy industry is in decline, while plant-based milks are all the rage.
A recent report by the United States Department of Agriculture shows that dairy consumption in the US dropped 22 percent between 2000 and 2016. The figures reveal that Americans now consume only 154 pounds of dairy milk per capita—down from 197 pounds in 2000. In a separate report, market research firm Packaged Facts advised that dairy companies recoup losses by looking to the lucrative plant-based milk industry. “There are many plant-based beverage companies, large and small,” the report stated, “that are already established or on the brink of a breakthrough. Acquisitions must be considered, not merely to offset losses from declining milk sales but to take advantage of the growing sales in the alternatives market." Several major dairy-focused brands have entered the plant-based industry, including international giant Danone, which recently acquired WhiteWave—the parent company of dairy-free brands Silk, So Delicious, Vega, and Alpro.
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