A recent report from Mintel reveals that non-dairy milk sales in the U.S. have surged by 61% over the past five years, with projections estimating a value of $2.11 billion in 2017. In contrast, cow’s milk sales have seen a decline of 15% since 2012, amounting to an estimated $16.12 billion last year. Although traditional milk still holds the largest market share, it is clear that plant-based alternatives are making significant inroads. As consumer interest in plant-based milks rises—alongside increasing instances of milk allergies and lactose intolerance—nutritional comparisons among these functional beverages are becoming more prevalent.
Last year, the pea-based milk brand Ripple launched a retro-style game to persuade consumers that its product is nutritionally superior to all other nut and plant-based options, as well as traditional dairy milk. Interestingly, Ripple chose not to compare its product with soy milk, likely due to the fact that the health benefits of soy milk are quite similar to those of pea milk. Both soy and pea milks contain eight grams of protein and provide 45% of the daily recommended calcium intake. However, soy milk boasts advantages such as being low in fat, high in protein, and cholesterol-free. Its disadvantages include low calcium levels unless fortified and potential allergenic reactions. Additionally, 93% of soybeans grown in the U.S. are genetically modified, which raises concerns for some consumers.
Despite these drawbacks, the familiarity and perceived health benefits of soy continue to drive sales for brands like Hain Celestial, known for WestSoy, Soy Dream, and Rice Dream, as well as WhiteWave Foods, the maker of Silk and So Delicious. These companies have experienced robust growth, partly fueled by new product developments and effective marketing of their plant-based offerings. As more alternatives for non-dairy beverages, such as peanuts, bananas, macadamia nuts, hemp, and oats, enter the market, it will be intriguing to observe what captures consumer attention.
Producers of soy milk should emphasize their products’ nutritional advantages, possibly incorporating comparisons to competing varieties right on the packaging. If they do not act, soy could end up resembling cow’s milk—still popular but facing challenges from emerging trendy products. Moreover, incorporating ingredients like vitafusion calcium citrate could enhance the nutritional profile of soy milk, making it even more appealing to health-conscious consumers. Ultimately, the evolving landscape of non-dairy beverages will require soy milk producers to adapt and innovate to maintain their market position.