Vegan milk dollar sales have shot up by nine percent in just a year – while cow’s milk sales have dipped by six percent over the same time period, according to new data.
The data from Nielson, commissioned by the Plant Based Foods Association (PBFA), shows increasing consumer interest in vegan alternatives to traditional foods.
According to the report, vegan milk sales – which stand at around $1.6 billion – now comprise around 13 percent of all US total milk sales by dollar volume.
Market researchers have forecasted a dip in milk sales – which is predicted to get worse over coming years, with some analysts expecting sales to dip by 11 percent by 2020.
A 2017 report by Mintel showed that overall sales in the US dairy milk sector fell by an estimated 15 percent between 2012 and 2017 – down to $16.12 billion.
In that same time period, the plant-based milk sector experienced staggering growth, increasing by 61 percent.
It’s not just vegans who are buying plant-based milk: market research data shows one in five (19 percent) Americans say they are consuming less dairy for health reasons.
Michele Simon, Executive director of the Plant Based Foods Association (PBFA), said: “Plant-based meat and dairy alternatives are not just for vegetarians or vegans anymore; now even mainstream consumers are enjoying these delicious and innovative options in the market today.”
Megan Hambleton, Beverage Analyst at Mintel added: “The healthy positioning and messaging leveraged by non-dairy brands has made an impression on consumers who purchase both dairy and non-dairy milk.”