Plant-Based Milk Grows to a $1.6B U.S. Market, According to New Data

SPINS saw a latest 52 weeks to April 22, 2018 increase in refrigerated plant-based milk of 7.0% to a $1.61 billion market and a 4.7% increase in shelf-stable plant-based milk to a $229 million market.

VANCOUVER -- GLOBAL GARDENS GROUP INC. is pleased to communicate the continued trend of shifting consumer preferences away from dairy milk towards plant-based milk products.

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In 2017, refrigerated milk in the U.S., was one of the fastest-declining beverage categories, with SPINS data showing a 1.5% year-over-year sales decline to a $13.2 billion market at the end of last year.  In contrast, SPINS saw a latest 52 weeks to April 22, 2018 increase in refrigerated plant-based milk of 7.0% to a $1.61 billion market and a 4.7% increase in shelf-stable plant-based milk to a $229 million market.  Recent reports indicate that even organic milk is suffering due to shoppers seeking alternative options.

The data includes conventional outlets, natural, and specialty gourmet channels, but excludes online and convenience channels and some key players including Whole Foods, ALDI and Trader Joe's.

Additionally, dollars per buyer for refrigerated milk has steadily decreased over the past two years.  Over that time span dollars per buyer dropped a significant 10.2% from $81.66 to $73.35. 

"The consumer has voted with their wallet," comments Rob Harrison President & CEO, Global Gardens Group Inc.  Mr. Harrison continues, "this has been a long-term trend that will continue, driven by a younger demographic who are turning to seek plant-based milk options for dietary, environmental and/or ethical reasons."

SOURCE Global Gardens Group Inc.