Dairy demand globally firms up as product prices rallied to elevated levels

More demand for dairy products

This year, four companies on the list are within US$150 million in sales. Notable highlights include the entry of UK-headquartered ice cream brand Froneri to the list and the departure of Kraft Heinz from this ranking.

“Supported by the recovery in foodservice channels after the initial COVID-19 pandemic and continued strong retail channel sales, dairy demand firmed globally,”

outline the report’s authors.

“Combined with lower-than-anticipated milk production growth in the main exporting regions and exceptionally strong Chinese import demand, dairy product prices rallied to elevated levels in 2021.”

The combined turnover of the Global Dairy Top 20 companies jumped by 9.3% in US dollar terms, following the prior year’s decline of 0.1%. In euro terms, the combined turnover increased by 5.0%.

Meanwhile, merger and acquisition activity by top 20 companies remained relatively stable in 2021 compared to the prior year, but dropped in the first half of 2022, with around ten deals announced versus the prior year’s approximately 30 deals.

Food Ingredients First