Milklab, one of Freedom Foods’ plant-based brands, had a 50% increase in sales for H1 FY2021.Over the last eight months, five of those months have experienced a decline in dairy-milk sales from the same month a year earlier.So why are consumers turning to plants for their daily ‘milk’ consumption?One reason is the rise in health consciousness as consumers increase education on products they consume.The COVID-19 pandemic reduced demand for premium quality dairy products and the labour shortage in Australia meant some dairy farmers had to reduce their herds.Since 2016 the rise of veganism has also fueled the decline in the consumption of dairy milk.So where to next for plant-based milk? It appears it’s out with the dairy and in with the dope ingredient…hemp milk is on the rise since becoming legalised for use in food in 2017.

TAX TIME: A warning from the ATO not to DOGE your tax on crypto this year, or overclaim any WFH expenses.