News

Dairy Profits Drop 91 Percent Amidst Plant-Based Boom

Dairy brand Dean Foods bets on plant-based investments to get it out of a financial slump.

Dairy brand Dean Foods released its third quarter fiscal report this week, which showed a 91-percent drop in profits. While Dean Foods—the parent company of dairy brand Dairy Pure—reported an income of $14.53 million last year, the company made only $1.38 million this year, with a net sales slip to $1.94 billion compared to $1.96 billion last year. “Our initiatives to build strong brands and diversify our portfolio will build brand equity on Dairy Pure through new product innovation and enhanced consumer marketing,” Dean Foods CEO Ralph Scozzafava said. The company is diversifying its dairy portfolio with plant-based brands to tap into the vegan market. Earlier this summer, Dean Foods invested a minority stake in flax-based vegan brand Good Karma Foods, a move the company hopes will see a return in coming months. A new report released last week by market research firm Packaged Facts showed that the non-dairy sector is making significant gains on its dairy counterpart—projected to represent 40 percent of the compounded dairy and nondairy sector in 2021, up from 25 percent in 2016.

More News

500 Virginians Camp Out to Get New Vegan Nike Shoes

Police shut down the release of the popular limited-edition shoe—designed by vegan vintage store owner Sean Wotherspoon.
Read More »

Utah Pays $349,000 for Unfair Ag-Gag Law

The state agrees to settle a lawsuit brought on by an animal-rights group over legislation silencing undercover investigations at factory farms.
Read More »

Vegan Pie Filling Sales Spike by 357 Percent

New data shows that consumers are increasingly flocking to plant-based Thanksgiving foods.
Read More »

The New Yorker Recounts the History of Tofurky

The acclaimed publication spotlights the 22-year legacy of the vegan holiday roast in time for Thanksgiving.
Read More »

7-Course Vegan Feast Party Bus Hits the SF Bay Area

The Om Bus—complete with an open bar and live music—will take guests on a scenic tour of San Francisco after a massive outdoor feast featuring Mexican-inspired vegan favorites.
Read More »

This Week on VegNews TV: The secret to these delightful sweet treats is white beans! Aylin Erman shows you how to make these simple blondies.

More Videos »