America’s largest milk producer files for bankruptcy
America’s largest milk producer Dean Foods is filing for bankruptcy. The 94-year-old company is struggling because Americans consumers are drinking less cows milk, as they seek less-sugary or plant-based alternatives.
The global market for milk alternatives is estimated to top $18 billion this year, up 3.5% from 2018, according to Euromonitor. This is still a fraction of the traditional milk market, which will come in at just under $120 billion globally this year.