Milk and Cream Processing in New Zealand - Industry Market Research Report

Cream of the crop: Increasing exports to China whip up processors' revenue growth

Milk and cream processors are benefiting from significant export demand growth. Rising incomes in Asia are boosting demand for non-powdered milk and cream, with notable price premiums in export markets often benefiting milk and cream processors' goods. Increasing sales of high-value food service and consumer goods in the domestic market are also benefiting milk and cream processors. Revenue has increased at an annualised 5.0% over the five years to 2022-23, reaching an estimated $1.6 billion. This trend includes an expected rise of 4.6% in 2022-23. Climbing export prices are offsetting diminishing export volumes as raw milk production dips. Operators in the industry process raw milk. Processes include pasteurising milk and separating it to produce milk and cream with varying fat content. 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.