Yet another sign the future is plant-based! Mooala, a dairy-free beverage producer, has raised $5 million in equity capital to keep up with the ever-increasing demand for dairy-free options. Mooala offers four delicious USDA-certified organic flavors: almond milk original, almond milk vanilla bean, banana milk original, and banana milk chocolate. The funding led by M3 Ventures and Sweat Equities will help Mooala expand throughout the Southwest, Midwest, and Northeast U.S.!

“This investment helps us ramp up production and expand our distribution network, making Mooala widely available to fans that have been requesting us for a long time,” said Mooala Founder and CEO Jeff Richards. Mooala was launched in late 2016 after Richards’ own lactose intolerance made him realize there weren’t many dairy-free beverages he enjoyed. Mooala has already made a dent in the beverage sector and is sold in Whole Foods, Costco, Albertsons, Safeway, Stop and Shop, and Wegmans.

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With the recent investment, Mooala estimates 40 percent growth and hopes to be in 1,500-plus retailers! 

 

Mooala’s success doesn’t surprise us in the least. With the rapidly rising numbers in the dairy-free markets as a whole, consumers are actively looking for healthier alternatives to dairy. Milk consumption in the United States has been steadily declining by 25 percent per capita since the mid-1970s. Plus, more consumers are waking up to the fact the dairy industry not only has a major negative impact on the environment, but it is also not the nutritional powerhouse that many of us once thought it was. It turns out, we can get the same nutrients from fortified plant-based milk and whole, plant-based foods.

It’s no wonder investors want in on dairy-free beverages considering how the overall dairy alternatives market is projected to grow to about $14.4 billion by 2022! 

For more information on Mooala, check out their website. We can’t wait to see more great things from this innovative brand!

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To learn more about the environmental impact of our food choices as well as trends and developments in the plant-based food space, check out our podcast #EatForThePlanet with Nil Zacharias.

Image Source: Mooala/Facebook