Once the top alternative to cow’s milk, it’s losing out to almond milk and other versions.
When Danone announced last week that it has entered into an agreement to buy WhiteWave, the French dairy company touted its new acquisition target’s “plant-based milk” in the headline of the press release.
But not all of WhiteWave’s plant-based portfolio has been so rosy. Soy milk, once the juggernaut of the plant-base world, has become a laggard. According to data from industry tracker Euromonitor, WhiteWave’s Silk soy milk brand had seen its sales cut by more than half from its peak of $558 million in 2008 to $242 last year.
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