The healthy hydrating refreshment of nutrient-rich milk will never go out of style. Yet, refrigerated and shelf-stable plant-based dairy alternatives like oat milks, almond milks, and pea milks are trending upward, albeit from a far smaller base than animal-based milks. In fact, as of June 16, 2021, animal-based milks were up 5.6% and had a total revenue of $13.9 billion, while plant-based milks were up 4.9% with a total revenue of $2.6 billion, Dan Buckstaff, chief marketing officer for Chicago-based SPINS, reports.
Yet, the typical plant-based milks residing in the refrigerated section, including almond, coconut, rice, and soy, all experienced declining sales, while dairy alternatives such as oat milks and pea milks, as well as mixed blends are climbing the ladder and increasing in popularity, Buckstaff states.