Changing lifestyles and health needs have led to the expansion of the dairy category. Less than 10 years ago, the average American only bought conventional white milk. “We are seeing smaller sizes of everything from organic milk and lactose-free milk, to flavored dairy milk and nut milks filling the average American refrigerator,” says Tetra Pak’s VP Chris Gretchko.
It is no surprise, then, that the market for dairy alternatives is expected to grow at a CAGR of 13.3% during 2016-2022 to $21.7 billion by 2020. The report, Dairy Alternative Market by Source, Application - Global Opportunity Analysis and Industry Forecast, 2014–2022, by Research & Markets (researchandmarkets.com) also states that soy milk accounted for the largest market share of 53.2% in 2015, because of its extensive usage in beverages. The rising levels of lactose intolerance will be the major driver in market growth.