In
the nearly 40 years since soy milk was first introduced in the U.S. and
Europe, the offerings for plant-based dairy alternatives have expanded
significantly to include a wealth of options from nuts, seeds, legumes,
fruits, grains and root vegetables.
In
fact, industry experts predict that by 2026, the market for dairy
alternative products could reach $41.8 billion growing at a CAGR of
12.2%.
A variety of factors are contributing to the category’s
growth, including dairy sensitivity issues, consumer perception that
plant-based products are healthier for them, a desire to avoid hormones
or antibiotics, and concerns about animal welfare.