October 6, 2014
Global demand for dairy products will outpace global supply from 2018 onward according to “A Global Balancing Act: Dairy Supply and Demand”, the seventh dairy index report issued by Tetrapak. Demand is expected to jump by 36% over the next ten years to 710 million tons of milk per year by 2024 driven by population and prosperity growth, and urbanization in Latin America, Africa, and Asia, bringing with it increased prices. Such growth will lend vast opportunities for dairy companies to develop export markets in growing and developing countries. The report indicates that changing consumer trends have caused a leveling off of demand in the world’s most developed markets and goes on to state that these conditions will make it all the more important for dairy companies to produce added-value products that cater to changing habits in both developing an developed markets.
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