It’s no secret that more Americans are incorporating plant-based dairy alternatives into their everyday diets. According to data from SPINS, the Plant-Based Foods Association and the Good Food Institute, plant-based milk accounted for 16% of all milk sales in 2021, with plant-based cheese, yogurt, creamer, butter and ice cream all increasing in sales.
However, this sharing of the market hasn’t stopped dairy from innovating or seeing success. A survey from McKinsey found that three-quarters of dairy leaders reported neutral or improved margins in 2021, a slight increase from 2020. Retailers have added an array of new and unique dairy products to their private brand portfolios in an effort to offer variety in the category and stay competitive.
Minerva Dairy Navigates Challenges
Producers are often the first hit by tough economic environments. Venae Watts, co-founder of Minerva Dairy, spoke with Store Brands to discuss how America’s oldest family-owned creamery is navigating the current climate.