Canada’s Largest Dairy Processor Is Looking Into Plant-Based Milks

Well, well, well. Look who wants to join the plant-based team! Saputo, Canada’s largest dairy processor, is reportedly eyeing up a move into the plant-based milk industry, if they can strike the right business deal.

“If there would be a great opportunity for us to make an acquisition in that space that could be something that could interest us quite a bit,” Lino Saputo Jr., chairman, and CEO of Saputo told BNN. Whoa!

The interest to get in on the plant-based milk game doesn’t surprise us one bit. The plant-based and dairy-free alternative sectors have seen enormous growth over the last few years and it doesn’t seem to be slowing down anytime soon. In fact, plant-based milk is set to reach $16.3 billion in 2018.

With the rise in lactose intolerance, milk allergies, growing caution over hormones and antibiotics in dairy, as well as animal welfare concerns, consumers are actively seeking dairy-free alternatives. The increased awareness about the benefits of plant-based milk products such as soy and almond milk are also key factors in the industry’s growth.

With more and more large food processing companies investing in vegan and plant-based markets, the availability of dairy-free products has significantly risen and made its way into the homes of consumers wanting healthier options. Saputo would be wise to make this shift in the near future, as more and more large companies such as Danone are honing in on the plant-based dairy market. If acquiring a company that makes plant-based beverages isn’t in the cards, then they could even start making their own like former dairy processor Elmhurst did! 

Investing in plant-based, vegan, and dairy-free alternatives is not only a smart move but a necessary one for food companies that want to stay in touch with consumer needs and trends. Come join the cool kids, Saputo!

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

Image source: Brent Hofacker/Flickr