Global Plant Milk Market to Top $16 Billion in 2018
Dairy alternative drinks accounted for 7% of global dairy launches recorded by Innova Market Insights in 2016, up from 6% in 2015
The global market for dairy alternative drinks is expected to reach $16.3 billion in 2018, up dramatically from $7.4 billion in 2010. Significant developments in this area include the acquisition of WhiteWave in 2016, presenting Danone with the opportunity to further develop its interests in this dynamic market in both North America and Europe.
In another key region, Want Want, one of Greater China’s leading food processing companies, recently announced its expansion into soy and other plant-based beverages. China is enjoying particularly strong growth for dairy alternative drinks, with a CAGR of 18.7% forecast between 2010 and 2018, reaching a market value of $6.7 billion, compared with a more modest, if still impressive, CAGR of 10% in the US.