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Danone North America CEO on plant-based trends, why soymilk is back in growth, and the Follow Your Heart deal By Elaine Watson
Shane Grant: Our plant-based business in North America grew by 17% [in 2020] (Picture credit: Danone North America) US retail sales of soymilk - which have declined precipitously over the past decade – have started to grow again, says Danone North America, which is spearheading the turnaround with its Silk brand, the leading player in the soymilk segment.
According to SPINS data, US retail sales of soymilk declined 0.9% to $201.4m in the year to Jan, 24, 2021, a startling drop from a decade or so ago, when they topped $1bn. To put this into perspective, almondmilk sales were up 16.9% to $1.59bn over the same 52-week period, while sales of relative newcomer oatmilk surged 219.3% to $264.1m, catapulting it into the #2 spot in the plant-based milk category behind almondmil