Starbucks is tapping into a $6.7 billion industry with this new drink

Starbucks is launching its first ever beverage with a coconut milk base.

The coffee giant announced on Monday that the iced coconut milk mocha macchiato will be available in the US and Canada starting July 12.

"Using coconut milk instead of coconut syrup provides a hint of summer - summer breeze," Starbucks' coffee education specialist Mackenzie Karr told Business Insider. "It's really subtle and nice and surprising."

The drink is a take on Starbucks' iced caramel macchiato, created by mixing espresso, white chocolate mocha sauces, Single Origin Sumatran Coconut Milk, and ice. The iced coconut milk mocha macchiato is topped with caramel and mocha drizzle.

Starbucks began offering coconut milk in 2015, as a vegan alternative to dairy and soy milk. The non-dairy option has been a hit, with customers utilizing it in "secret menu" beverages such as the pink drink.

This is the first time Starbucks has debuted a beverage with a dairy-alternative base, something that Starbucks says customers were seeking out.

According to Euromonitor data, lactose-free food made up a $6.7 billion industry in 2015. The ICMMM is not 100% lactose-free (the white chocolate mocha sauce and caramel sauce include milk ingredients), but its role in highlighting non-dairy options represents the growing appeal of dairy alternatives, both to lactose intolerant customers and those simply seeking out new flavors.

The ICMMM will be available for a limited time this summer.

Starbucks is also launching a new, limited-time Teavana iced tea on Tuesday, called Shaken Berry Sangria Herbal Tea.

The iced tea contains a mix of Teavana Iced Passion Tango Tea and sangria syrup, which the company says contains a blend of peach, elderberry, blood orange, and raspberry flavor. The beverage is shaken with black berries, orange slices, apple juice, and ice.