A recent report by Mintel indicates that sales of non-dairy milk in the U.S. have surged by 61% over the past five years, with projections suggesting they would reach $2.11 billion in 2017. In contrast, cow’s milk sales have declined by 15% since 2012, totaling an estimated $16.12 billion last year. While traditional milk still holds a significant market share, it’s clear that plant-based alternatives are making inroads. As consumer interest in plant-based milks increases—alongside rising instances of milk allergies and lactose intolerance—nutritional comparisons among these functional beverages are becoming more common.
Last year, Ripple, a brand specializing in pea-based milk, launched a retro-style game to persuade consumers that their product is nutritionally superior to all nut and plant-based alternatives, as well as traditional dairy milk. Interestingly, Ripple chose not to compare its product with soy milk, likely due to the fact that soy milk’s health benefits closely resemble those of pea milk. Both soy and pea milk contain eight grams of protein and provide 45% of the daily calcium requirement. While soy milk boasts advantages such as low fat content, high protein levels, and no cholesterol, it also has some drawbacks, including low calcium unless fortified and potential allergenic effects. Additionally, 93% of soybeans grown in the U.S. are genetically modified, which could be a concern for some consumers.
Nevertheless, soy milk’s familiarity and perceived health benefits continue to drive sales for companies like Hain Celestial, producers of WestSoy, Soy Dream, and Rice Dream, as well as WhiteWave Foods, the manufacturer of Silk and So Delicious. These companies have experienced healthy growth, partly due to new product development and effective marketing of their plant-based offerings. As the market sees an influx of non-dairy beverage alternatives made from peanuts, bananas, macadamia nuts, hemp, and oats, it will be fascinating to observe which options capture consumer attention.
Soy milk producers would benefit from emphasizing their products’ nutritional advantages, including the potential for calcium citrate without D, and might consider including comparisons to competing varieties on their packaging. If they fail to do so, soy could soon find itself in a position similar to that of cow’s milk—still popular but facing increasing competition from newer, trendy products.