It ... [+] employs 3,300 people and runs 12 plants across the U.S. AP Photo/Tony DejakTopline: Borden Dairy, one of the oldest milk processors in the U.S., filed for bankruptcy on Monday, making it the second large milk seller in nearly two months to restructure amid rising raw milk costs and lackluster consumer demand. Dean Foods, the largest milk processor in the U.S. declared bankruptcy in November over similar trends in the dairy industry. While still a small part of a dairy market, sales of nut and plant-based milk, like soy and oat milk, have increased dramatically. According to the Plant Based Food Association, plant-based milk sales rose 9% in 2018 while cow’s milk sales sank 6%. And on top of that, dairy farms, where Borden purchases raw milk, are having a difficult time surviving.

Source: Forbes January 06, 2020 21:44 UTC