Rabobank ranking of Global Dairy Top 20 companies

Rabobank’s newest annual ranking of the Global Dairy Top 20 companies shows that the combined turnover of the top 20 companies increased 7.4 percent in US dollars and 21 percent in euro’s. The increase was caused by a stronger US dollar, inflation and tight market conditions. This made that many companies realized record high revenues in their local currency. Only five companies held their position as last year. Arla Foods surpassed FrieslandCampina in the ranking. However, both companies are in a higher position than last year. Arla climbed three places, also due to increased sales in the retail channels. FrieslandCampina climbed one place. This despite the sale of part of the German activities. New Zealand’s Fonterra dropped three places. Exchange rates in 2022 were particularly unfavorable for dairies reporting in New Zealand dollars, Chinese renminbi and Japanese yen. The Chinese dairy giants Yili and Mengniu even saw their turnover in US dollars fall and the Japanese Meiji even disappeared from the top 20. Conversely, Glanbia managed to take advantage of the situation and make its entry into the ranking. The turnover of the Irish company is mainly due to sales in the US.Dairy alternative have become part of the product portfolio of most of the Dairy Top 20 companies but still account for a small share of their revenues. In recent years the focus has been on launching plant based products as alternatives to liquid milk and fresh products like yogurt but attention has shifted to using precision fermentation to develop alternatives for dairy products.

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