Global Dairy Top: Rabobank's 2025 Ranking

The ranking positions Lactalis (France) at the top, followed by Nestlé (Switzerland) and Dairy Farmers of America (USA). Despite inflation and regulatory pressures, the combined revenue of these 20 firms increased by 0.6% in 2024.
A significant highlight is the rise of Asian companies. Both Yili and Mengniu from China have secured top 10 positions, indicative of sustained consumption growth in the region. European cooperatives like Arla Foods and FrieslandCampina maintain their influence, while emerging market players such as Amul (India) and Grupo Lala (Mexico) continue to gain prominence.
Rabobank's analysis forecasts mergers and acquisitions as crucial in reshaping the industry's landscape by 2026. There are expected shifts in rankings, with potential exits of giants like Unilever and DMK, and entries of new players such as Magnum and Emmi. The report concludes that while the global dairy industry is expanding, it must adapt to emerging trends like the rise of plant-based products and technological alternatives.