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The dairy industry is facing a challenging time, according to an agricultural outlet.
A piece in the Western Farm Press warns that the industry’s ‘days will be numbered’ if bosses can’t keep up with changing public appetites.
Plant-based
An article in the outlet says: “Until the dairy industry becomes more savvy with marketing, and can improve demand and better respond to the drive towards plant-based proteins by others in U.S. agriculture and abroad, its days are numbered.”
Historical data from market research company Mintel shows that the US plant-milk market has been surging since 2012, seeing 61 percent growth, while dairy sales have plummeted by 15 percent in the same time.
Megan Hambleton, Beverage Analyst at Mintel explained: “The healthy positioning and messaging leveraged by non-dairy brands has made an impression on consumers who purchase both dairy and non-dairy milk.”
Growth
A March 2017 report by Mintel revealed that sales of dairy milk will continue to decline over the next two years – with US dairy sales predicted to drop 11 percent by 2020.
According to Mintel, part of the drop can be attributed to a growing awareness around how unhealthy consuming cow’s milk can be for humans.
As dairy milk sales continue to decline, plant milk sales are predicted to keep increasing, with the market pegged to surpass $34 billion by 2024.
