Increased consumer comfort with dairy alternatives and scrutiny of dairy foods is helping fuel competition between the dairy and dairy alternative sectors, particularly beverages. Sales of plant-based dairy alternatives, especially almond milk, show no signs of slowing and new alternative sources, such as cashews, are expected to drive the alternative segment even faster and higher over the next several years.
U.S. retail sales for dairy and dairy alternative beverages reached $24 billion in 2014, and the market is expected to reach $31.5 billion by 2019, according to the “Dairy and Dairy Alternative Beverage Trends in the U.S.” report from Packaged Facts. Strong growth in the almond milk segment is the single most significant development in market trends in dairy and dairy alternative beverages. Further expansion of the market for plant-based dairy alternative beverages will be driven by additional options, most notably in terms of new product launches like cashew milk. Not to be overlooked is the market for dairy-alternative foods that appeal to a wide range of consumers: those with lactose intolerance, dairy-free consumers (including vegans), those who don’t prefer dairy-laden products, and those looking to venture out and try new flavors.
We want to help you propel your business forward and continue to innovate and achieve success in the food and beverage category. That’s why we recognize the winners of the Editor’s Choice Awards at SupplySide West—the world’s largest gathering of influential trendsetters and professionals in the health and nutrition marketplace.
If your company has launched an innovative new alternative dairy food or beverage I invite you to enter the 6th Annual SupplySide CPG Editor’s Choice Awards that recognize innovative finished product launches from CPG companies. (Click here to nominate a product.) Key judging considerations will include clean ingredient lines, functionality, innovation and taste. The finished products must have been launched to the U.S. consumer market between Summer 2016 and July 2017. Deadline to submit is July 31, 2017.
The INSIDER/SupplySide/Food Insider Journal editorial team will evaluate all nominations to determine the finalists in each category. Finalists will be showcased via SupplySide and Natural Products INSIDER, and the winners announced at SupplySide West in Las Vegas on Sept. 27 and 28, 2017. Winners are selected by the SupplySide editors based on market innovation, consumer need, scientific substantiation and the “cool” factor. Each winning company will receive inclusion in the post-show coverage on the SupplySide Health & Nutrition Network brand sites, including photos, quotes and discussion of the product’s unique positioning.
Source: Natural Products Insider
