Dairy product demand sees global increase
Global demand for dairy products has risen by 15% from 40.9 million tonnes in 2003 to an estimated 47.0 million tonnes in 2008, according to a new report from leading food and drink consultancy Zenith International.
"Global consumption has increased for all the products we studied," commented Zenith Dairy Market Intelligence Manager Esther Renfrew. "Spoonable yogurt has seen the greatest growth over the past five years at 23%. Ice cream volume has also advanced swiftly by 18%, with the majority of additional sales coming from Asia/Australasia and the Middle East."
Cheese accounts for the largest segment of the dairy sector analysed by Zenith, with 18.2 million tonnes consumed in 2008, equivalent to 39% of the total. This is followed by ice cream at 14.3 million tonnes and a 30% share, then spoonable yogurt on 9.9 million tonnes and 21% of volume. Forecasts to 2012 indicate a further increase of 10% to 51.8 million tonnes, with spoonable yogurt gaining as much as 16%.
The Zenith report identifies a number of economic and market factors influencing consumption patterns, including:
- growing populations and prosperity leading to greater demand
- rising costs and climate change causing supply instability
- consumers placing more emphasis on functionality in dairy products, along with convenience and healthy indulgence
- government policies and industry marketing improving the perception of dairy products and their environmental impact
Zenith's 2008 Global Dairy Products report also finds that:
- There are only two markets where volume and consumption per person decreased during the review period Ã¯Â¿Â½ fromage frais in West Europe and ice cream in North America. All other markets showed overall growth.
- Although market values have fluctuated due to exchange rate instability, local value per kilo has been rising in the majority of product categories.
- In the Middle East, spoonable yogurt accounts for a higher share than cheese, while ice cream dominates the dairy product market in Asia/Australasia.
The 2008 Zenith Report on Global Dairy Products contains 261 pages including over 100 tables and charts, company and brand profiles, regional overviews and full analysis of market trends. Contact Zenith International on tel +44 (0)1225 327900 or e-mail firstname.lastname@example.org.
For further information, please contact:
Gary Roethenbaugh or Esther Renfrew, Zenith International Ltd
7 Kingsmead Square, Bath BA1 2AB, United Kingdom
t +44 (0)1225 327900, f +44 (0)1225 327901