Over the five years to 2017, the Soy and Almond Milk Product industry has grown rapidly. Operators have thrived as Americans have become more health conscious. Additionally, an increase in per capita disposable income made consumers more willing to spend money on healthy food and drinks. A dramatic rise in demand for almond milk has occurred over the past five years at the expense of soy milk, the industry's traditional top product. Over the next five years, industry revenue is expected to continue to grow. As more Americans demand healthy goods, dairy alternative beverages will likely fly off the shelves. In addition, as the economy continues to grow, consumer spending will increase and more consumers will be willing to splurge on specialty goods such as almond and coconut milk.
This industry manufactures nondairy milk substitutes. These are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.