Drink Up: Soy and Almond Milk Production in the US Industry Market Research Report Now Available from IBISWorld

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The Soy and Almond Milk Production industry has flourished in the five years to 2012, with revenue expected to rise by an average of 6.8% per year. Operators have thrived as Americans have become more health conscious and willing to spend money on healthy food and drinks. While revenue has increased, dairy alterative beverage producers have faced increased competition from other beverages, such as organic cow's milk. As more Americans demand healthy goods, IBISWorld anticipates that dairy alternative beverages will likely fly off the shelves. As demand and revenue grow for the industry, firm numbers are forecast to increase, and new entrants will likely focus on niche markets such as coconut, hemp and oat milk. For this reason, industry research firm IBISWorld has added a report on the Soy and Almond Milk Production industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Demand for alternative dairy beverages will soar, despite competition from organic milk

The Soy and Almond Milk Production industry has flourished in the five years to 2012, with revenue expected to rise by an average of 6.8% per year. Operators have thrived as Americans have become more health conscious and willing to spend money on healthy food and drinks. According to industry analyst Mary Nanfelt, “Dairy alternative beverages are substitutes for cow's milk, and many Americans have demanded these products because of their dietary restrictions such as veganism and lactose intolerance.” While revenue has increased, dairy alterative beverage producers have faced increased competition from other beverages, such as organic cow's milk. The industry has also experienced an increase is the cost of production, as key ingredients, such as soybeans, have become more expensive. In 2012 alone, revenue is estimated to rise 8.4% to $1.5 billion, as more Americans buy industry products because of their nutritional qualities.

From 2012 to 2017, industry revenue is projected to rise again. As more Americans demand healthy goods, dairy alternative beverages will likely fly off the shelves. In addition, as the economy continues to recover, consumer spending will increase and more consumers will be willing to splurge on specialty goods such as almond and coconut milk. Nevertheless, as in the previous five-year period, the industry will continue to compete with organic milk products, and competition within the industry will intensify. Nanfelt says “the price of ingredients will also continue to fluctuate, influencing industry performance.”

As demand and revenue grow for the Soy and Almond Milk Production industry, firm numbers are forecast to increase. From 2012 to 2017, the number of companies is expected to increase at an average rate of 4.0% per year to 17 companies. IBISWorld expects new entrants will focus on niche markets such as coconut, hemp and oat milk. The soy milk market is quite saturated, so more opportunities lie in the less developed product segments. Major players Dean Foods Company and Blue Diamond Growers are expected to perform well in the coming years, with smaller firms like Hain Celestial Group and Eden Foods also set to benefit from strong demand.

For more information visit IBISWorld’s Soy and Almond Milk Production in the US industry page

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This industry manufactures non-dairy milk substitute beverages. These products are usually plant-based and may be made from soybeans, almonds, hemp, coconut, rice or oats.

IBISWorld industry Report Key Topics

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
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