Events can be mean. After Dean Foods, USA largest milk processor filed for bankruptcy in November, it is now the turn of Borden, another processor. In the meantime, Califia farms, a well-known plant-based milk alternative startup raised $225m from investors.
The sharp decrease in milk sales in the US from $15 to $12 billion in the last 4 years has created a huge space for plant-based startups such as Califia farms or Oatly.
Why it matters?
This crossing of fates is quite telling when observed from Europe where plant-based milk alternatives have not risen as fast. Milk processors should seriously consider developing new plant-based alternatives products and entrepreneurs should look at this huge untapped market in Europe.