As veganism has seen a huge surge over the past few years, plant-based sales have also seen a sharp rise. Plant-based milk, in particular, has been reaping the rewards, with many people choosing to use soy, almond, oat and rice milk as alternatives to dairy.
Now, the plant-based milk global market is predicted to reach $16.3 billion in 2018. This is a rapid increase from the mere $7 billion the market stood at in 2010.
The report comes from Innova Market Insights who uncovered the new data.
As much of the public has become increasingly aware of foods they’re putting into their body, they’ve begun to see the link between milk and chronic diseases such as osteoporosis, heart disease, and cancer.
Almond milk was the first plant-based milk to take off, which was followed by a surge in soy milk sales. However, almond milk sales continue to be the leader within the plant-based milk market.
Lu Ann Williams, Director of Innovation at Innova Market Insights, said: “The dairy alternatives market has seen rising levels of interest in recent years, spurred mainly by consumers increasingly looking for lactose-free, dairy-free and plant-based/vegan options as healthy lifestyle choices, rather than regarding them as simply for those with allergies or intolerances.”
She goes on to say: “The category has been further boosted by the growing availability and promotion of plant-based options to traditional dairy lines, particularly beverages, but also cultured products such as yogurt, frozen desserts and ice-cream, creamers and cheese.”
We are now beginning to see even more plant-based milk options with the addition of macadamia milk, hemp, flaxseed, lupin and cashew milk.
Having a wide range of flavours will only help the market to grow further and may mean more people give up the unnecessary consumption of dairy milk.