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Milk may need a makeover: Alternatives to dairy are increasingly winning over consumers

There remains consumer suspicion around products that companies make in mass and about how the animals that provide those products are treated.

LAUREN HIRSCH: ‘Consumers are shying away from milk, turning instead to dairy alternatives made from soy, rice and oats, and other crops. Those alternatives are still a small slice — just 3 percent of the $600 billion global dairy industry — but they are growing. Dairy alternatives increased 4 percent in the five years ended in 2017, while sales of fluid milk dropped 3.5 percent, according to a recent report by Dutch bank Rabobank…

There remains consumer suspicion around products that companies make in mass and about how the animals that provide those products are treated. Meanwhile, dairy companies could also continue their investment in the space, looking to buy what they cannot create on their own. Danone acquired WhiteWave, maker of Silk-branded soy milk, for roughly $10 billion in 2017. General Mills has invested in nut yogurt and cheese company Kite Hill’. SOURCE…

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