The Dairy Product Production industry suffered from volatility in raw milk prices and the economic recession in the beginning of the five years to 2014. Demand from emerging economies worldwide and higher feed prices at dairy farms drove milk prices up. At the same time, the economic downturn soured demand for higher-margin dairy products. Most recently, economic recovery has once again bolstered global demand. In the five years to 2019, the industry is projected to benefit from continued economic recovery and the introduction of higher-margin, value-added products that will address changing consumer tastes.
Operators in this industry mainly manufacture dairy products such as pasteurized milk, cream, butter, yogurt, cheese, and dry, condensed and evaporated milk. The industry also manufactures substitute dairy products made from soybeans and other nondairy ingredients. Producers of dairy products such as ice cream and frozen yogurt are excluded from this industry (IBISWorld report 31152).
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.