$146.5bn
$X.Xbn
142k
779
$XX.Xbn
The dairy industry in the US has been a staple of the agricultural sector, consistently contributing to the nation's economy. Over recent years, it has faced a blend of challenges and opportunities. Despite the volatility in milk prices and shifting consumer preferences, the sector has shown resilience. Traditional dairy products like milk, cheese and yogurt remain household staples, but there's been a noticeable shift towards organic and specialty products. Innovations in production methods and a focus on sustainability have also started to shape the industry's landscape, reflecting broader consumer trends toward healthier and more environmentally friendly options. The industry has been growing at an average annualized 1.1% over the past five years and is expected to total $146.5 billion in 2024 when revenue will dip by an estimated 2.2%.
Industry revenue has grown at a CAGR of 1.1 % over the past five years, to reach an estimated $146.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Land O'lakes, Inc. | 28,051.7 | 399.3 | 1.4 | |
Dairy Farmers Of America, Inc. | 8,125.9 | 251.9 | 3.1 | |
Nestle Sa | 3,568.9 | 623.5 | 17.5 |
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Industry revenue is measured across several distinct product and services lines, including Cheese, Fluid milk and milk-based products and Dry, condensed and evaporated milk products. Cheese is the largest segment of the Dairy Product Production in the US.
Cheese has a full command of the industry
Businesses in this industry manufacture dairy products such as pasteurized milk, cream, butter, yogurt, cheese and dry, condensed and evaporated milk. Companies supply these goods to various market segments such as retailers, wholesale and food services. Producers of dairy products such as ice cream and frozen yogurt are excluded from this industry (IBISWorld report 31152).
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NAICS 31151 - Dairy Product Production in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Higher raw milk prices can impact dairy producers. If costs are passed onto consumers, they may opt for cheaper dairy products or explore different brands, potentially affect...
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The ordinary US person has become more interested in various types of cheese in recent years. This has led to a boost in consumption.
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Dairy products are perishable, contributing to high transportation costs. That's why dairy product producers are typically situated close to dairy and cow farms.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
There are only slight distinctions between branded and private-label products. That's why many dairy products within the business, like milk, offer a sense of competitiveness...
Learn about the performance of the top companies in the industry.
Dairy Farmers of America has garnered a hefty portion of the market. This has been achieved by offering a wide variety of brands and trading names they have within the indust...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Dairy products have various forms of trade assistance. Dairy products are subject to tariff rate quotas, including butter, dried whole milk, dried skimmed milk, dried butterm...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Good equipment comes at a costly price. Dairy product producers won't be able to work in the industry if they can't afford a location or the necessary tools for dairy product...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Dairy Product Production in the US industry in United States is $146.5bn in 2024.
There are 779 businesses in the Dairy Product Production in the US industry in United States, which has declined at a CAGR of 0.5 % between 2019 and 2024.
The market size of the Dairy Product Production in the US industry in United States has been growing at a CAGR of 1.1 % between 2019 and 2024.
Over the next five years, the Dairy Product Production in the US industry in United States is expected to grow.
The biggest companies operating in the Dairy Product Production market in United States are Land O'lakes, Inc., Dairy Farmers Of America, Inc. and Nestle Sa
Producing fluid milk products and Producing cheese are part of the Dairy Product Production in the US industry.
The company holding the most market share in United States is Land O'lakes, Inc..
The level of competition is moderate and steady in the Dairy Product Production in the US industry in United States.