Top 7 Companies Dominating the Asia Pacific Dairy Market Landscape

The Asia Pacific dairy market reached a value of nearly USD 335.16 billion in 2023. The market is projected to grow at a CAGR of 2.6% between 2024 and 2032, reaching a value of around USD 423.08 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising application of dairy products in the food and beverages sector.

The rising health awareness among consumers and growing shift towards dairy products are pushing the growth of the dairy market forward. The market is mainly driven by the increased consumption of cheese, butter and yoghurt in restaurants and food service industry. In 2022, the dairy sector of Australia accounted for 7.8% of the GDP.

The market is also being fuelled by the growing demand for probiotic cheese as it helps to improve immune system performance. In 2023, China produced around 42 million metric tonnes of milk, a 4% increase over 2022. The increased downstream demand of milk further expands the dairy market growth in the Asia Pacific region.

In FY 2021-22, India ranked 1st position in the world, contributing 24.64% of global milk production. In 2022, New Zealand accounted for 21.4% of total milk exports globally and earned USD 7.8 billion. Increased dairy production and consumption dairy products in countries like Australia and New Zealand expand the market growth.

In December 2023, Fonterra Co-operative Group Limited Partnered with Nestle S.A. to support farmers with their sustainability actions and foster low-carbon milk production. Such developments are expected to positively impact the market growth of dairy products.

Top 7 Dairy Companies in the Asia Pacific:

Nestle S.A

Nestle is a nutrition, health, and wellness company, which engages in the manufacturing, supply and production of food and beverages. The company has operation over 80 countries worldwide. The company’s product portfolio includes milk products such as Nido and Bear Brand, cocoa and malt beverages such as Milo, Nesquik and Nescafe, and dairy culinary solutions like Carnation.

Dairy Farmers of America

Dairy Farmers of America (DFA) is a cooperative that markets milk and the processes dairy products, with nearly 11,000 dairy farmers across the USA. The company’s product portfolio includes brands such as Alta Dena Dairy, Borden Cheese, Breakstone’s® Butter, Cache Valley, and Class Clay that offer dairy products such as milk, butter, cheese, creamery, and others.

Danone S.A.

Danone is a global leader in the food industry that offers products based on four business lines, including essential dairy and plant-based products, waters, early-life nutrition, and advanced medical nutrition. The company’s 74.2% of products are B Corp. certified. The company has a presence in 120 countries worldwide. Brands such as Alpro, Activia, and Danone offer dairy products under this company.

Land O'Lakes, Inc.

Land O'Lakes, Inc. is a member-owned cooperative and one of the top food and agricultural firms in America. The company has presence in 50 states and 60+ countries. The company produces roughly 13 billion pounds of milk each year. About half of that is used to make butter, cheese, milk powder, and other products in production facilities in Tulare.

The Kraft Heinz Company

The Kraft Heinz Company is a multinational food and beverage company formed by the merger of Kraft Foods Group and H.J. Heinz Company. Through well-known brands, including Oscar Mayer, Kraft, and Heinz, the company offers a wide range of products, including sauces, condiments, cheese, and snacks. Brands such as Kraft Mac and Cheese, Philadelphia and Oscar Mayer provide dairy products under this company.

Amul (GCMMF)

Amul is the most famous company that is engaged in the manufacturing and marketing of milk and dairy products. Amul created the first "Amul model" of cooperative dairy, guaranteeing farmers fair pricing and providing customers with high-quality products at reasonable prices. Its product portfolio includes milk, paneer, ice cream, cheese, fresh cream, cheese sauce, and other dairy products.

Yili Group

Yili is the top player in the domestic dairy market of China, providing a wide range of dairy products such as milk, cheese, and other dairy products. The company has more than 2,000 partners spread throughout 39 nations on six continents. The corporation has 81 production locations and 15 research and innovation centres. More than 60 nations and regions sell its ice cream, yoghurt, cheese, milk powder, and liquid milk.