Milk Giant Loses to Plant-Based Alternatives

Milk Giant Loses to Plant-Based Alternatives

November 12, 2017

Dean Foods, the largest milk supplier in the U.S, has announced a steep drop in profits over the course of the past year.  In a recent Press Release, the milk supplier's finances present a 91% drop in Net Income, closing in at $1.38 million.  This year's loss is compared to the $14.53 million in Net Income reported last year.  

Why the drop?

This sharp decline in cow's milk popularity could've been anticipated as Food Trends have been gearing towards Plant-Based alternatives in order to meet market demands.  As such, it has been predicted that the meat-alternative market will become a $5 Billion Industry by 2020.  Predictions such as this one may sound bold, but are seemingly realistic as the Vegan movement has grown by 600% over the past 3 years.  

Why the change? 

Veganism's exponential growth is set to continue as consumer awareness surrounding animal products rises.  While milk has been advertised to the public as a healthful and natural food, the health consequences associated with consuming it have been vast and far-reaching.  In addition, the environmental toll of milk production, along with the inherent cruelty involved in the dairy industry have pushed consumers to choose the plant-based option.

Dean Foods is aware of this trend, of course, and has purchased a stake in Good Karma, a non-dairy milk and yogurt producer.

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