Danone, the French-based multinational dairy company, recently brought out U.S.-based WhiteWave for $12.5 billion. WhiteWave is the parent company of hot plant-based brands including Earthbound Farm, So Delicious, Vega, Alpro, and Silk. And the investment is already reaping financial benefits for Danone.
This week, Danone released its earnings report for 2017’s third quarter, which revealed a substantial increase in profits. The company credits this growth to the acquisition of WhiteWave – now dubbed ‘DanoneWave.’
This time in 2016 prior to purchase of WhiteWave, Danone earned $783 million – a figure which has risen to earnings of $1.5 billion this quarter.
“Plant-based foods and beverages delivered positive growth driven by improved plant-based beverage velocities and a very strong sales performance from Vega and So Delicious frozen desserts,” reads the report.
The report also states that “in the United States retail channel, plant-based beverages category growth accelerated in Q3 2017, driven by nut-based beverages.”
Dairy-free latte, anyone?
In addition, the plant-based ice cream market is set to hit $1 billion within a decade, and companies like Bay Area startup Impossible Foods (not owned by WhiteWave or Danone) plan to eliminate all animal products from food production before 2035. Not to mention the ample investors and startups focused on plant-based solutions to our global food crises.
The ever-increasing wave of new vegans inevitably results in the major increase in the demand for vegan food and vegan food tripling in sales.
If business moves like this continue, we are well on our way toward the age of veganism.