Plant-based dairy alternatives are certainly nothing new. Soy “milk,” for example, has been available commercially for years and years — ever since Li Yu-ying (aka Li Shizeng) opened up the first factory (in Paris) to produce it about a decade into the 20th century.
What is new in recent years, however, is the high interest on the part of consumers in such alternatives. Allied Market Research notes that the global dairy alternatives market generated $13.0 billion in 2018, and forecasts that the segment will reach $35.8 billion by 2026, registering a compound annual growth rate of 13.6% between 2019 and 2026.