Sales in the beverages category are mixed year-over-year (YoY), but there are plenty signs of strength. Declining subcategories certainly did not take it on the chin, perhaps a good sign for the industry.
The magnanimous cultured dairy category is like a clear-blue summer sky with resurging, in some cases, double-digit growth that is “eclipsing” much of the dairy industry.
Cheese processors’ cheese creations have performed well in recent years, rising at a compound annual growth rate (CAGR) of 3.5% from 2018-2023 to barely a whisper of growth, at 0.5%, expected from 2023-2028 to reach $69.7 billion by 2028.
Like a powerful blizzard blasting the landscape, health and wellness is socking it to the dairy ingredients’ sector. But rather than snow, ice, and high winds pelting consumers, shoppers are facing a deluge of such positive elements as products that are low in sugar, high in protein, and those that contain prebiotics and probiotics.
Overall, ice cream/sherbet sales rose by 3% year over (YoY) to $8.6 billion for the 52 weeks ending Aug. 11, according to Chicago-based market research firm Circana. Unit sales picked up 0.5% YoY to 1.84 billion.
Circana reports that in U.S. multi-outlets and convenience stores for the 52 weeks ending Aug. 11, the overall milk category notched $19.6 billion in dollar sales at a slight 1.2% decrease over the prior year. In the “all other” refrigerated milk segment, however, it was near-perfect fall sunshine with 21.2% growth and $252 million in sales.
Several dairy suppliers and processors take a look back to the past as we celebrate our 125th anniversary
November 8, 2024
Although Dairy Foods’ 125-year anniversary is clearly a milestone, many industry suppliers have unique innovations that they share in this special Suppliers' Section.
Queens and Staten Island merged with New York City. The Bronx Zoo opened. The inventor of basketball, Dr. James Naismith, was coaching Kansas University’s new basketball team. AND in 1899, Dairy Foods (via its predecessor Dairy Record) was established.
On Sept. 23, Danone offered to pay some $283 million — $25 per share — to purchase the 76.6% of Lifeway Foods it didn't own. The plan was rejected.CEO Julie Smolyansky talks about the company's history and success with Dairy Foods.