Dairy Milk Sales Plummet by $1.1 Billion in The Last Year Alone
To what most people would never think can dwindle, is now in the fall. Dairy milk sales had plummeted by as much as 1.1 Billion dollars in the last in the US to its plant-based alternatives, according to statistics. What could possibly curb the popularity of the sole calcium supplier to the masses? Are people listening to recent reports? Made up crisis rather. To know more, read on.
Dairy Milk Sales Dwindling.
According to statistics released by Dairy Farmers of America (DFA), the industry reportedly declined from an industry worth $14.7 billion in 2017 into a $13.6 billion industry in 2018. The $1.1 Billion fall can be translated to an equivalent of eight percent altogether drop in an industry of which the product is used in every walks of life. That’s quite a number, to say the least. According to the report prepared by DFA, it stated- “the decrease is primarily a result of lower milk prices.” And what is more worth highlighting, the biggest challenge this industry has been facing is from the constant rise of veganism (and plant based milk).
It must be noted, contrary to the plummeting sales, the plant-derived milk industry is thriving. According to research by Mintel published last year, the plant-based milk industry reportedly saw a rise of 61 percent (since 2012) as compared to a 15 percent (since 2012) fall of cow based milk in the consumer market.
According to Mintel’s beverage analyst Megan Hambleton-
“While almond, coconut and soy milks remain the most popular types of non-dairy milk, other nut and plant bases are gaining traction, including pecan, quinoa, hazelnut and flax milks. Both established and new brands are taking advantage of the growing non-dairy milk segment, innovating with alternative non-dairy bases (…)”
Plant-based Needs a New Name?
In the recent times, the fall its popularity to consumers have reportedly instigated renewed efforts of dairy lobbyists to encourage ban on marketable terminologies like ‘Milk’ and even “Dairy-free,” to be marketed with plant-based milks (remember the 2016’s Dairy Pride Act?) This is clearly an effort to counter the competition faced by the milk industry.
Commenting on the renewed efforts of dairy lobbyists from the dairy producing states, executive director of Plant Based Food Association said, “In an era of increasing innovation in the food industry, this legislation would send a chilling message to small and emerging businesses: The marketplace is rigged against you in favor of large and powerful special interests,” reported the Veg News.
Vegan Drinks To Surpass The Dairy Milk Industry
The plant-based alternate market is set to grow more than $34 Million by 2024. The widespread availability of nondairy made choosing the same easier. Whatever reasons be it behind ditching milk, the plant-based milk industry had been growing steadily since the last few years. My favorite vegan milk is coconut, which is yours? Let me know in the comments below.
YOU MIGHT ALSO LIKE:
- How Meat Is Causing Global Warming
- Are Danish Dairy Farmers Scared To Let The World Know Of Their Practices?
- Amsterdam’s First National Climate March Gets 40,000 Participants
- Check Out This Vegan Celebrities List and What Urged them towards Veganism
- Dwindling Demand and Activists force closed Pig Slaughterhouse in the UK