Sales of the 20 largest dairy companies at the end of 2023 rose by only 0.3% in US dollars, compared with 8.1% in 2022, Agrarheute reported on August 30.
In euros, revenues decreased by 2.3%. The reason for the virtual lack of growth is a significant drop in milk prices in 2023 after a record high the previous year.
French company Lactalis remains the leader in the sector with sales of $30.2 billion (2.75 trillion rubles). Swiss company Nestlé regained second place in the ranking. By the end of the year, the company expects to earn $24.1 billion (2.2 trillion rubles). Diary Farmers of America from the USA fell to third place with revenues of $21.7 billion (2 trillion rubles).
French Danone lost some of its businesses due to sanctions against Russia. The company is in fourth place with revenues of $19.7 billion (1.8 trillion rubles). Chinese Yili kept its fifth place on the list with projected revenues of $17.5 billion (1.6 trillion rubles).
New Zealand’s Fonterra rose from ninth to sixth place with $15.1 billion (1.4 trillion rubles). Swedish-Danish food company Aria fell from sixth to seventh place, receiving $14.8 billion (1.35 trillion rubles).
China’s Mengniu earned $13.9 billion (1.25 trillion rubles) in 2023, dropping one step from eighth to ninth place. Canadian company Saputo rounds out the top ten with revenues of $12.8 billion (1.15 trillion rubles).
Fonterra, Unilever and General Mills have all announced plans to focus on their core businesses and intend to divest non-core businesses. According to analysts, this could significantly change the industry in the coming years.
Source: Rossa Primavera
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