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Source: ISTOCK

The Dairy Alternatives Market Will Double in Value Over Next 6 Years, Market Research Predicts


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Considering reports that dairy milk's annual sales in the U.S. dropped by $1.1 billion from 2017 to 2018, it's no surprise that the global dairy alternatives market is expected to significantly grow by billions of dollars over the next few years. In fact, it's expected to double in value.

As Vegconomist reported, a new report by Global Market Insights estimates that the global dairy alternatives market will be worth more than $37.5 billion by 2025. In 2018, the market was worth $18.5 billion, Global Market Insights notes, so that would mean the market could increase by more than double. For you economists out there, the company projects dairy alternatives to have more than a 10 percent CAGR (compound annual growth rate) between 2019 and 2025.