Dairy free segment gets a banana milk4 Aug 2020
The non-dairy category has exploded in recent years from a category dominated by soy milk to a market with milks made from nuts, grains and plant-based protein sources. Now, the category has a banana milk.
Banana Wave is a milk alternative that is made with whole bananas and oat milk and boasts a nutritional roster chock full of vitamins A, B12, C, D, as well as fiber and potassium. In addition to a variety of nutrients, the banana milk is gluten-free, fat-free and non-GMO. The brand even mixes in some flavor with four flavors: original, strawberry, chocolate and a new mango flavor. Each 32-ounce carton retails for $4.50 at select U.S. retailers.
Plant-based dairy is one of the largest segments in the plant-based space with SPINS data showing the category makes up 40% of the entire segment. Not only is plant-based milk a big market today, but sales are continuing to grow. Sales are expected to reach $38.9 billion by 2025, according to Fior Markets.
Already, milk alternatives comprise 14% of the entire milk category and sales jumped 5% in 2019, according to statistics commissioned from the SPINS market research firm. However, the research showed that not all milks are created equal. Almond milk still leads by a large margin, but oat-based beverages are gaining ground. This trend was accelerated even further during the pandemic when sales grew 347.3% for the first week of March, according to Nielsen data.
This news bodes well for a brand like Banana Wave, which is oat-based. But the milk, which markets itself bananas first, is competing against some industry giants like Oatly, Elmhurst and Pacific Foods. While there remains room to attract consumer attention, the brand will be hard pressed to carve out a meaningful niche in the marketplace and capture the hearts and wallets of consumers looking for an alternative to traditional animal dairy.
Sugar tax in South Africa results in ‘positive changes’
23 Apr 2021
A study published in The Lancet found that following the 2018 implementation of a 10% tax on sugar-sweetened beverages in South Africa, the overall consumption of sugar from these beverages fell 35% from 16.25 grams per person daily to 10.63 grams per ...Read more
Danone Manifesto Ventures makes first UK-based investment
8 Apr 2021
Danone’s VC arm, Danone Manifesto Ventures (DMV) made its first investment in a UK-based business with its commitment to a £2.5m funding round for the healthy drinks brand Moju. Moju said the French Dairy giant’s minority investment in the company will...Read more
Topo Chico finally debuts its hard seltzer
1 Apr 2021
Molson Coors Beverage Company, which is exclusively manufacturing Topo Chico Hard Seltzer through a brand authorization agreement with Coca-Cola, finally released the concept onto shelves on March 29 after announcing the development of the brand in Jul...Read more
Chobani enters into pilot program with PepsiCo
30 Mar 2021
Greek yogurt maker Chobani recently entered into a distribution partnership with PepsiCo to sell its new yogurt drinks at convenience stores, colleges and universities in the northeastern part of the U.S. In the original report on this news, Bloomberg ...Read more
Danone revamps itself, ousting CEO and adding to its portfolio
24 Mar 2021
As Danone continues to face pressure both from industry competition as well as activist investors, the company has decided to separate its chairman and CEO roles, which are currently held by Emmanuel Faber. Additionally, Danone is searching for a new C...Read more
Nestlé purchases Essentia Water, increases functional water portfolio
18 Mar 2021
Nestlé entered into an agreement in early March to acquire ionized alkaline water brand Essentia Water, which the Swiss company said was the No. 1 selling bottled water brand in the natural channel.Read more
Ocean Spray launches Wave caffeinated sparkling water
16 Mar 2021
Cranberry brand Ocean Spray launched a new line of functional water through an exclusive partnership with Walmart. Called Wave, the caffeinated sparkling water contains 50mg of caffeine derived from black tea, real fruit juice, and has no added sugars,...Read more
Coffee start-up to scale up ‘digitization’ of coffee aroma with $3m funding
11 Mar 2021
Colombian-Israeli start-up Demetria is ready to scale up its Artificial Intelligence-driven tools that digitize the taste and aroma of coffee after closing a $3 million seed funding round.Read more
Drizly predicts that hard seltzer will get more flavorful in 2021
11 Mar 2021
The U.S. alcohol delivery service Drizly expects “hard alternatives” to continue to flourish in 2021. However, the category is no longer limited to seltzer with hard versions of iced tea, kombucha and lemonade gaining ground amid a demographic that is ...Read more
Healthy Height expands into China
9 Mar 2021
Healthy Height, the nutritional shake brand which has been clinically proven to increase children’s height is expanding its e-commerce presence in China.Read more
Are you a supplier?
Here's what we can do for you
- Generate quality leads for your business
- Stay visible for 365 days of the year
- Receive product inquiries and respond to meeting requests directly
- Improve company online presence through Search Engine Optimisation