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Borden Dairy, the 163-year-old milk producer known for its spokes-cow Elsie, files for bankruptcy after demand drops as people switch to VEGANISM and more say they are lactose intolerant
 [MAIL] A 163-year-old dairy which has its own 'spokescow' has filed for bankruptcy amid a surge in costs and a fall in sales because of the rise of veganism and people allergic to milk.Borden Dairy Co blamed the 'rising cost of raw milk and market challenges facing the dairy industry'. The amount of liquid milk consumed per capita in the US has tumbled more than 40 percent since 1975. Americans drank around 24 gallons a year in 1996, according to government data but that dropped to 17 gallons in 2018. About 65 percent of people cannot drink cow's milk without getting an upset stomach due to lactose intolerance and many more have dietary restrictions that keep them from the drink. The Global Market Insights reported the plant milk market was worth over $8billion in 2016 and predicted it would be worth $21billion by 2024. Posted by: Skidmark 2020-01-07 |
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