Euromonitor reports declining Global interest in soy milk

Euromonitor International's herbal market research states that soy-free milk replacers have become the fastest growing segment in the dairy and milk alternatives category. Now the volume of the global market for such milk is estimated by Euromonitor at $ 10 billion. Soy beverages are losing ground due to poor consumer acceptance of the ingredient, according to company research. At the same time, sales of milk substitutes made from almonds, oats, coconut and peas grew by 69% in the UK alone over the year, and by 130% over the past five years. Plant-based milk production has grown significantly in the past year thanks to large investments in this segment, comments the results of the study, Euromonitor manager Maria Mascaraque. She predicts the category will continue to grow as it gains attention from major food manufacturers such as Nestle and Danone. Mascarake expects plant-based milk producers to use ingredients such as peas, chickpeas and fava beans in the next couple of years ...