The Unthinkable Is Happening! Signs That Dairy Industry Is Imploding
The Western World is falling out of love with dairy, while the dairy free market is growing rapidly.
The dairy industry in the West is
going through a tumultuous time. In the UK, one in ten dairy farms have closed
in the last three years. In the
US, decreased consumption levels led to a scandal where the dairy industry
started price fixing.
They killed half a million cows in order to inflate milk prices. Luckily, this
corruption is being prosecuted and the US dairy industry were fined $52 million earlier
This is all happening while the
dairy free market – which includes plant-based milk, cheese and icecream - is
growing rapidly. For example, a recent study conducted by Grand View Research
revealed that the global dairy free market is expected to grow by 16.6% to $35
billion by 2024.
As a result, some dairy companies have moved into the plant-based industry to
stay competitive, as evidenced by Danone’s recent acquisition of WhiteWave Foods, the umbrella company to vegan business So Delicious, Silk
and Vega. Others in the dairy industry have become worried. For example, David
Dobbin, Chief Executive of United Dairy Farmers, recently spoke about the
declining industry: “It’s a demographic time bomb”.
Disclaimer: This post was prepared by the above author in their personal capacity. The opinions expressed in this article are the author's own and do not necessarily reflect the views and opinions of Plant Based News itself.