Dairy Product Production in the US - Market Research Report

Farm to table: Industry revenue will surge, albeit at a decelerated rate

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The industry is home to operators that primarily produce fluid milk and cheese, as well as creamery butter and dry and condensed milk products for majority sale to downstream wholesale, retail and food service industries. As with many commoditized industries, revenue performance most greatly depends on trends within per capita dairy consumption and national dairy prices. But since per capita dairy consumption has stagnated going into 2023, revenue trends have primarily been derivative to price movements. The price of milk's stability is expected to uplift revenue at a CAGR of 4.5% to 2023 to reach $163.5 billion. But by the same token, costs have also risen and pressured industry profitability during the period. Operators in this industry manufacture dairy products such as pasteurized milk, cream, butter, yogurt, cheese and dry, condensed and evaporated milk. Operators supply these goods to a variety of 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.