A recent report from Mintel reveals that sales of non-dairy milk in the U.S. have surged by 61% over the past five years, with projections estimating the market to reach $2.11 billion in 2017. In contrast, sales of cow’s milk have declined by 15% since 2012, amounting to approximately $16.12 billion last year. Although traditional milk maintains the largest market share, it is clear that plant-based alternatives are increasingly competing for consumer attention.
As the demand for plant-based milks rises and incidents of milk allergies and lactose intolerance become more prevalent, consumers are making nutritional comparisons among these functional beverages. Last year, Ripple, a pea-based milk brand, launched a retro-style game to persuade consumers that its product is nutritionally superior not only to other nut and plant-based options but also to traditional dairy milk. Interestingly, Ripple chose not to compare its product with soy milk, likely due to the similar health benefits offered by both; for instance, both soy and pea milk contain eight grams of protein and provide 45% of the daily calcium requirement.
Soy milk boasts several advantages, including being low in fat, high in protein, and cholesterol-free. However, it does have some disadvantages, such as lower calcium content unless fortified, and it may trigger allergies in some individuals. Furthermore, approximately 93% of soybeans cultivated in the U.S. are genetically modified, which raises concerns for certain consumers. Despite these issues, the familiarity and perceived health benefits of soy continue to drive sales for producers like Hain Celestial, which makes WestSoy, Soy Dream, and Rice Dream, as well as WhiteWave Foods, known for its So Delicious and Silk brands. These companies have experienced significant growth, partly due to innovative product development and effective marketing of their plant-based offerings.
With the emergence of diverse non-dairy beverage alternatives, including peanuts, bananas, macadamia nuts, hemp, and oats, it will be fascinating to see which products capture consumer interest. To maintain their market position, soy milk producers should emphasize the nutritional advantages of their products, such as calcium citrate with vitamin D at 315 mg, and consider including comparisons with competing varieties on their packaging. If they do not take action, soy milk could soon find itself in a position similar to that of cow’s milk—still popular, but increasingly challenged by trendy new products.