2022 marked an interesting shift in the milk industry in the US, as Dean Foods Co shut down operations entirely following their bankruptcy, and we expected large dairy companies to fill the void left behind. Dean Foods, once a dairy giant in the US, filed for bankruptcy in 2020 following several years of declining profits and volume and, in 2022, the player’s products were officially removed from grocery store shelves.
Inflation was persistent in 2021 and 2022, with a slight slowdown in 2023. Consumers have slowly been adapting to a new consumption environment, leading to a calculated, less impulsive, frugal shopping basket for their household.
In the past several years, while volumes have been declining for animal-based milk, the opposite has occurred with plant-based milk. Indeed, the market for plant-based milk is growing significantly in the US and, what was once considered a short-term trend, looks set to be much more resilient and to continue, growing stronger over time.
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Understand the latest market trends and future growth opportunities for the Drinking Milk Products industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Drinking Milk Products
This is the aggregation of flavoured milk drinks, milk and powder milk. Note: Plant-based drinking milk products should be excluded from this category and tracked under plant-based milk. Except for plant-based powder milk that should be tracked within the core dairy category of powder milk.See All of Our Definitions
This report originates from Passport, our Drinking Milk Products research and analysis database.
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