The plant-based milk industry continued to grow and thrive over the course of the last year. With consumers opting for dairy alternatives, many of these milks have become mainstream.
As more consumers look to plant-based food and beverages, oatmilk continues to make share gains. Driving that growth is Oatly Group AB, which produces products from oats, including oatmilks, frozen desserts and oatgurts.
Los Angeles-based Califia Farms is kicking off the new year with a variety of new dairy-free beverages that expand the brand’s existing product offering of plant milks, creamers, brewed-to-blend coffees, and barista products using ingredients like almonds, oats, coconuts and more.
Dairy-alternative beverages have become mainstream, signifying a new era for the dairy category. Although market share is on the rise, traditional dairy milk still commands the lion’s share.
While the dairy category as a whole remains fairly stable, various sub-segments demonstrate a slowdown, including in traditional milk and soy-based milks. Almond milk and other alternatives, however, are seeing an upward trajectory.
For the past several years, dairy milks have been on a downward trajectory. Yet, the pandemic and consumers working from home has reinvigorated the $16.3 billion dairy milks category. In the plant-based dairy alternative market, almond milk is No. 1, but oat milk has surpassed soy milk.