The rise of the middle class and its purchasing power in emerging countries is causing a boom in the global demand for liquid dairy products.
Tuesday, July 12, 2011
The fourth Tetra Pak Dairy Index provides valuable information on consumer trends that will shape the dairy industry over the next decade, creating new growth opportunities.
The world is ready for a boom decade in milk consumption, with an expected increase in demand for liquid dairy products (LDP) of 30% from 2010 to 2020, driven by economic growth, urbanization and the growing purchasing power of the middle class in Asia, according to a study by Tetra Pak.
Tetra Pak also predicts that for the first time packaged milk will surpass unpackaged milk in the developed world in 2014, as economic growth and city life are stimulating demand for healthy and convenient products. This change is expected to mark a turning point in milk consumption for millions of people from Delhi to Dhaka.
Global demand for all liquid dairy products will grow from about 270,000 billion liters in 2010 to about 350,000 billion liters in 2020, according to the Tetra Pak study, which is one of the world's most comprehensive forecasts.
Liquid dairy products include milk and other liquid dairy products (OLDP), such as smoothies, liquid yogurt, condensed milk, acidified milk and baby milk.
During this decade, global consumption of other liquid dairy products is forecast to grow by almost 60% to 100,000 million liters in 2020.
The study indicates that the demand for liquid dairy products will grow in each region between 2010 and 2020, with the exception of Western Europe, where it is likely that demand will remain stable. It also predicts that the dairy boom will be higher in Asia, led by India and China, where growing prosperity and of the rapid growth of the middle class will significantly boost consumption among millions of consumers.
Global consumption of milk shakes will more than double in the next three years, as consumers prefer nutritious shakes in convenient packaging as an alternative to other beverages.
From a press release issued by the company Tetra Pak:
The sixth Tetra Pak Dairy Index highlights the increasing demand for ready to drink shakes, driven by health conscious consumers and its flavor.
The next big market opportunity for the dairy industry will be in the low-income sector.
According to the 5th. version of the comprehensive Dairy Index study, developed by Tetra Pak, economic growth and new consumer preferences for healthier products, are the trends that mark this growth.
Domestic milk consumption is growing at 3.9% annually, while exports in 2010 reached $74 million, compared to $49 million sold abroad in 2008.
The country ranks third in Latin America in per capita consumption with 199 liters per year, according to the Chamber of National Milk Producers (NCPC in Spanish).
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