The investor rush into plant-based milk comes as cow milk consumption falls, partly due to health and environmental reasons. Read more on the FutureofFood:
- Almond milk producer Califia Farms has raised $225 million from global investors including Singapore’s Temasek Holdings [TEM.UL] who are looking for the next plant-based food hit after the market debut of vegan burger maker Beyond Meat last year.
The investor rush into plant-based milk comes as cow milk consumption is falling, partly due to health and environmental reasons, leading to two of the largest dairy producers in the United States - Dean Foods and Borden Dairy Company - filing for bankruptcy protection in the past two months. “The total change in dietary habits of the U.S. consumer is what is driving the decline in dairy,” Founder and Chief Executive Officer Greg Steltenpohl told Reuters.
It plans to use the money raised from the latest funding to launch more plant-based milks and expand its line of oat products, a growing category in the plant-based market.
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