The global dairy market is showing steady growth and has already surpassed the $1 trillion mark. According to industry experts’ forecasts, over the next decade, its volume will reach $1.5 trillion, with an average annual growth rate of 4.38%.
This is reported by Finway
Key Trends in Dairy Product Consumption
The leader in the global milk market is the Asia-Pacific region, particularly India, which tops the rankings in terms of product consumption. At the same time, China is shaping an increasing demand for high-margin products such as cheeses and yogurts. One of the key market trends remains the popularity of dairy proteins – isolates and whey. This is linked to a global interest in healthy eating and products with a higher protein content.
Largest Dairy Companies in the World
In the dairy production sector, the French company Lactalis continues to dominate, with annual revenue exceeding $11 billion, outpacing its closest competitor, Swiss Nestlé. Lactalis is actively expanding its business and is currently finalizing the acquisition of the consumer division of New Zealand’s Fonterra (Mainland Group brand) for $4.22 billion.
The ranking of the top 10 global dairy producers by annual revenue is as follows:
- Lactalis – $35 billion (3.5% of the global market)
- Nestlé – $24 billion (2.39%)
- Dairy Farmers of America – $23 billion (2.3%)
- Yili Group – $16 billion (1.60%)
- FrieslandCampina – $15.57 billion (1.55%)
- Fonterra – $15.3 billion (1.52%)
- Danone – $15.2 billion (1.51%)
- Arla Foods – $15.1 billion (1.50%)
- Saputo – $14 billion (1.39%)
- Mengniu Dairy – $12.8 billion (1.27%)
“Dairy prices in Ukraine remain high, despite a slight decrease in certain items. According to the Milk Producers Association, the most noticeable changes have been recorded in pasteurized milk and kefir, where prices start at 65 UAH per bottle. High prices are also maintained for hard cheeses and butter.”
According to the forecast from the Ukrainian Agribusiness Club, further price increases for dairy products and meat are expected after Easter.