Milk sales plummeted by $1.1 billion last year
The Dairy Farmers of America (DFA) announced that traditional milk sales plummeted by $1.1 billion in 2018. Last year’s net sales totaled $13.6 billion, compared to $14.7 billion in 2017. The market for plant-based foods and beverages has grown at a dizzying pace. The global dairy alternatives market size was estimated at $11.9 billion in 2017, and analysts believe the market will exceed $34 billion by 2024. Returns on soy, rice, and almond milk are roughly 6% higher than those on traditional milk products.