10 Best Alternatives to Dairy Milk
In this piece we will examine the 10 Best Alternatives to Dairy Milk. If you would like to skip our discussion on the dynamics of the dairy alternative milk market, you can go directly to 5 Best alternatives to cow’s milk.
The dairy alternatives milk market refers to the segment of the food industry specializing in the production and offering of plant-based alternatives to traditional dairy products. These alternatives, derived from ingredients such as soy, almonds, oats, coconut, rice, hemp and peas, are gaining popularity in response to various factors such as health awareness and the environment, lactose intolerance and milk allergies, ethical concerns related to animal welfare, and changing dietary habits such as veganism and vegetarianism.
In American households, milk is a common choice, where the majority of consumers have purchased dairy milk or plant-based milk in the past two years. Plant-based milk has grown in popularity due to concerns over health, sustainability and animal welfare, posing a challenge to traditional cow’s milk. Despite this, dairy and non-dairy milk remain a popular choice among consumers for a variety of reasons.
The global dairy milk alternative market size is expected to reach USD 27.0 billion in 2023 and is expected to reach USD 43.6 billion by 2028, growing at a compound annual growth rate (CAGR) of 10.1% in during this period. In recent years, the dairy substitute market has seen significant growth, mainly driven by increasing demand for plant-based options for health, environmental and ethical reasons. This trend is particularly visible among younger consumers who are actively choosing plant-based alternatives to traditional dairy products. Additionally, the market has seen a notable expansion in the variety of alternative dairy products available to consumers. Beyond traditional options like soy and almond products, innovative choices like oat milk, pea protein products, coconut milk yogurt, and cashew cheese have emerged to accommodate different dietary preferences and address concerns related to food allergies.
With this, let us also take a look at some of the players in the dairy alternative milk market. Namely, we’re going to discuss Unilever PLC (NYSE:UL), Oatly Group AB (NASDAQGS:OTLY), and The Hain Celestial Group, Inc. (NASDAQGS:HAIN), before moving on to our list of 10 Best Alternatives to Dairy Milk.
Unilever PLC (NYSE:UL)
Unilever PLC is recognized as a rapidly evolving consumer goods company, with businesses spanning segments such as beauty and wellness, personal care, home care, nutrition and ice cream. In fiscal 2023, the company reported revenue of $65.2 billion, a decrease of 0.8% from the previous year. This decrease is explained by an unfavorable exchange rate conversion of 5.7% and by disposals net of acquisitions of 1.7%. Unilever PLC’s underlying operating profit rose 2.6% to $10.8 billion year-on-year, while underlying operating margin increased 60 basis points to 16. 7%.
Oatly AB Group (NASDAQGS: OTLY)
Oatly Group AB, a Swedish food company specializing in oat-based dairy alternatives, saw revenue increase by $9.1 million to $204.1 million in the fourth quarter ending 31 December 2023. This represents a growth of 4.6% compared to the same period in the previous year, when revenues were $195.1 million. Including the foreign exchange impact of $4.2 million, fourth-quarter revenue reached $199.9 million, reflecting an increase of 2.5%. The increase in revenue, measured at constant exchange rates, was primarily driven by the EMEA and Americas segments, although it was partially offset by anticipated reductions in the Asia segment.
The Hain Celestial Group, Inc. (NASDAQGS: HAIN)
The Hain Celestial Group, Inc., headquartered in the United States, is an international company specializing in natural foods and organic personal care products. For the quarter ending December 31, 2023, the company reported flat year-over-year net revenue of $454.1 million. Organic turnover increased slightly by 0.2% compared to the previous year. However, the gross profit margin saw a decline of 40 basis points to 22.5%. The company also faced a net loss of $13.5 million for the quarter, in contrast to a net profit of $11.0 million for the same period a year ago.
Pixabay / Public domain
Methodology
To create our list of 10 Best Alternatives to Dairy Milkwe referred to the different sources on the internet listing Best alternatives to cow’s milk. Some of the sources we referenced include 7DROPS, Taste of home, Gundersen Health System, Parade And Eat well. We selected the list of alternatives from all sources and counted the frequency of their appearance in all sources. Next, to focus on the amount of lactose in these alternatives, we searched the internet for alternatives that are not only the “best” options in the context of overall nutrition, but also cater to the lactose intolerant segment , which represents a significant share. in the world population, particularly in the United States. Approximately 65% of individuals in the human population have a reduced ability to digest lactose after infancy. Finally, we classified the alternatives according to the consensus approach, relying on frequency and lactose elements. With that, let’s not jump to our list of 10 Best Alternatives to Dairy Milk.
By the way, Insider Monkey is an investing website that tracks the moves of corporate and hedge fund insiders. Using a similar consensus approach, we identify the best stock picks from more than 900 hedge funds investing in U.S. stocks. The top 10 hedge fund consensus stocks have outperformed the S&P 500 by more than 140 percentage points over the past 10 years (see the details here). Whether you’re a beginner investor or a professional looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and company insiders.
10. Pistachio milk
Frequency of appearance in all sources: 4
tenth on our list of 10 Best Alternatives to Dairy Milk is pistachio milk. Pistachio milk is a plant-based dairy alternative created by blending pistachios with water, providing a flavorful and creamy option for those with lactose intolerance. This versatile milk can be used in cooking, baking or enjoyed alone, sweetened or unsweetened depending on individual preferences. Beyond its pleasant taste, pistachio milk also provides several health benefits. It is a source of protein, healthy fats and fiber, as well as essential vitamins and minerals such as vitamin E, potassium and magnesium. Some research suggests that pistachios, and by extension pistachio milk, could potentially help lower cholesterol levels and reduce the risk of heart disease.
9. Macadamia milk
Frequency of appearance in all sources: 4
Macadamia Milk is a dairy-free alternative made by blending macadamia nuts with water, offering a deliciously creamy texture and delicate nutty essence. This milk substitute can be perfectly integrated into cooking, baking or enjoyed as a drink. Notably, macadamia milk is an abundant source of healthy fats, vitamins and minerals. It contains monounsaturated fats known to help lower bad cholesterol levels and reduce the risk of heart disease. Rich in vitamin E, an essential antioxidant to protect the body against damage caused by free radicals, macadamia milk also provides essential minerals like calcium, potassium and magnesium, essential for maintaining strong bones and muscles.
8. Hazelnut milk
Frequency of appearance in all sources: 5
Hazelnut milk is a vegan and lactose-free alternative suitable for people with dietary restrictions. However, it may not be suitable for people with nut allergies due to its hazelnut base. It is also considered paleo and keto friendly, unlike cow’s milk. Hazelnut milk offers a slightly sweet, nutty flavor and finer texture than the creamier, milder taste of cow’s milk. Typically, hazelnut milk is made by mixing hazelnuts with water to create a milk-like consistency. Some commercially available varieties may contain sweeteners like cane sugar or natural options such as dates to enhance flavor, and some brands may include stabilizers and thickeners to improve texture and shelf life. Although hazelnut milk is not very high in protein or carbohydrates, it contains more fat than other plant-based milks, even surpassing whole milk in terms of fat content. Typically, hazelnut milk is not fortified with additional vitamins and minerals like some other nut milks like almond milk.
7. Cashew milk
Frequency of appearance in all sources: 6
Cashew milk, derived from cashews mixed with water, offers a smooth, creamy texture that can enhance the thickness of smoothies, coffee and desserts. Low in calories, protein and sugar, cashew milk is a suitable option for people with lactose intolerance. Some of the main benefits of cashew milk include its ability to improve heart health, promote good eye health, aid the blood clotting process, lower blood sugar levels, improve skin health and to strengthen overall immunity.
6. Hemp milk
Frequency of appearance in all sources: 6
The flavor of hemp milk can resemble cow’s milk or have nutty or slightly tart notes, leading to varying preferences among individuals. In terms of texture, hemp milk can sometimes have a thick or chalky consistency. Nutritionally, hemp milk is relatively low in carbohydrates and calories, typically containing around 3g of carbohydrates and 40 calories per 100ml.
Click to continue reading and learn more 5 best alternatives to cow’s milk.
Suggested articles:
Disclosure: None. 10 Best Alternatives to Dairy Milk is originally published on Insider Monkey.
