Dairy Product Production in the US
The Dairy Product Production industry performance has been volatile but has generally moved toward a strong decline. The decline in raw unprocessed milk prices and, subsequently, finished milk product prices, can largely be attributed to declines in the price of feed which is a strong determinant of the input's demand. Furthermore, increased industry supply during the five-year period may have created market inefficiencies further pushing down milk prices, despite relatively stable demand for industry products. Over the five years to 2024, industry revenue is expected to slightly grow. Stabilizing milk and feed prices coupled with stronger demand from downstream markets bode well for the industry moving forward.
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 (IBISWorld report 31152).
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.
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