Mildly acidic milk and soy beverages and methods for preparation of mildly acidic milk and soy beverages are provided herein. The acidified milk and soy beverages generally comprise a milk product and a stabilizer system at a mildly acidic pH in the range of about 5.0 to about 6.0. In particular embodiments, the beverage further comprises one or more components to provide a fruit flavor to the acidified milk beverage. In embodiments, the acidified milk and soy beverages comprise a milk product in an amount sufficient to provide milk protein and/or soy protein in the beverage in an amount from about 0.25% by weight to about 4.0% by weight of the beverage and a stabilizer system comprising a carrageenan component and optionally a high acyl gellan gum. The carrageenan component desirably comprises a mildly extracted kappa-iota copolymer with minimal alkaline modification.