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Dairy Is Dying?

World 20.06.2024
Source: The DairyNews
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Sometimes, at least in developed economies, I hear a narrative that hashtag#dairy is a dying industry.
Dairy Is Dying?
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Yes, from time to time there can be local challenges. But on a global scale, dairy is a growing industry meeting a growing need.

Over a couple of recent conferences, The Dairy Industry Association of Australia Victorian Conference and the hashtag#DairyOlympics in Ankara Türkiye, I've seen a lot of thought-provoking data from reputable sources.

Currently the world population is growing at 1.1% per year. Global dairy consumption is growing at 2.3% pa. Global dairy demand is higher than supply and many countries are net importers.

More than 40% of the world's dairy production is still "informal", i.e. it is consumed locally and doesn't go through a processing plant.

The most efficient and effective way to decrease the greenhouse gas footprint of the dairy industry would be to increase milk yield per cow in developing economies. Achieving this is simple (but not easy). For example, China has increased its average yields by 50% over the last 15 years.

Estimates of how much dairy contributes to global protein vary from 12% to 34%. In India, for example, dairy is an irreplaceable source of dietary protein.

And, here in Australia, dairy is currently the largest supermarket category and for the second year in a row, the fastest growing supermarket category.

Presentation highlights from recently attended conferences included:
Jackie Campbell of Circana talking about the recent retail performance of dairy products in Australia (DIAA VIC)
Torsten Hemme of IFCN talking about global trends in dairy production and demand (DairyOlympics)
Kevin Bellamy talking about Indian dairy production and its market (DairyOlympics)
Me in learning mode (DairyOlympics)

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