Plant-based dairy alternatives are gaining ground on milk and other traditional dairy beverages
The market for dairy and dairy alternative beverages will reach a projected $28 billion by 2021, according to market research firm Packaged Facts in the new report, “Dairy and Dairy Alternative Beverage Trends in the U.S., 4th Edition.”
Spurring the segment’s growth will be plant-based dairy alternatives, which are expected to represent 40% of the combined total of dairy and dairy alternative beverages, up from 25% in 2016 when dairy alternative beverages alone accounted for barely $6 billion in retail sales.