Why should Beyond Meat always get that plant-based attention?
Welcome to Angelica’s Insight (a separate commentary within Insights Limited), where I tell you my thoughts on everything imaginable because, well, I’ve just got too much on my mind!
Plant-based everything seems to be the main hype these days. Despite meat being the usual subject of plant-based alternative banter, we can’t forget about the alt-milk market––which is today’s topic for discussion.
According to a report by Grand View Research, Inc. “The global dairy alternatives market size is expected to reach USD 41.06 billion by 2025 at a 16.7% CAGR during the forecast period.”
There are two main reasons why the substitute milk market has experienced a steady rise in popularity:
- Milk allergies have become more frequent amongst consumers.
- Consumers have become more health conscious about nutrition, hence looking to alternative milks options in order to keep calories low while gaining essential vitamins, proteins, etc.
A quick note on ingredients.
Although plant-based milks provide many health benefits, knowing what ingredients go into them might just lead you to think twice before you wash down that vegan chocolate-chip cookie with a nice glass of oat milk.
The Food Revolution Network elaborates that milk substitutes can contain a hefty helping of added sugar (up to 6 grams per cup!) GMOs are also something to watch out for: “Most genetically engineered foods have been created by Monsanto (now Bayer) to withstand Roundup, a widely-used glyphosate-based herbicide they manufacture. Glyphosate is a probable human carcinogen.”
The start of the alt-milk craze and key players.
Carcinogens aside, soy milk was the original catalyst that sparked the alt-milk craze, leading manufacturers to get savvy with their substitutes. Today, shelves in grocery stores are lined with plant-based milks derived from almonds, coconuts, rice, oats, hemp, peanuts, peas (of all things), and more.
The biggest players in the plant-based milk market include companies like New Barn, Malk Organics, and Oatly, which “had gone from supplying a handful of upscale New York coffee shops to more than 3,000 cafes and grocery stores nationwide. The company had ramped up production by 1,250%” ever since its launch in 2016.
And that wraps up today’s insight! Be sure to give this article a clap and subscribe to the magazine so that you can always stay up to date with whatever’s on my mind.