The latest report shows that plant-based milk will soon make up 40 percent of the milk industry, up from 25 percent in 2016.
The report titled Dairy and Dairy Alternative Beverage Trends in the U.S. was conducted by Packaged Facts on the U.S. market and made some positive conclusions.
The report ended with the prediction that the milk industry will be worth $28 billion by 2021, with 40% of the market share being made up of plant-based milk.
“Vegetarians and vegans together account for less than 15 percent of all consumers, and their numbers do not grow very rapidly,” Packaged Facts research director David Sprinkle explained.”
“But a growing number of consumers identify themselves as flexitarian or lessitarian, meaning that they’ve cut back on their consumption of animal-based foods and beverages. It is this group that is most responsible for the significant and ongoing shift from dairy milk to plant-based milk.”