Tridge summary
Dairy product sales, particularly natural cheese, butter, and yogurt, are expected to grow in 2024, although at a slower pace than in 2023 due to economic pressures on U.S. consumers. Per-capita consumption of dairy products in the U.S. reached 653 pounds in 2022, with cheese consumption surpassing 40 pounds per person for the first time. U.S. dairy exports had fallen in 2023, but the country is poised to fill global orders if international demand for high-quality proteins increases.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Dairy product sales should grow in 2024, led by natural cheese, butter and yogurt, says Corey Geiger, lead dairy economist for CoBank. However, that growth will be at a slightly slower pace than in 2023. “U.S. consumers will be pressured by reduced household savings, growing credit card debt, the return to making monthly student loan payments and higher interest rates,” Geiger says. While growth in dairy sales could be lukewarm, the dairy aisle remains the largest sales category in U.S. grocery stores at over $78 billion in annual sales, based on Circana sales data. Per-capita consumption of all dairy products in the U.S. reached 653 pounds per person in 2022. “That’s 114 pounds, or 21%, above the historical average dating back to 1975,” Geiger notes. According to USDA data, overall dairy consumption in 2022 was the second-highest total on record. In 2022, U.S. per-capita cheese consumption pushed past 40 pounds per person for the first time. Mozzarella, the pizza cheese, ranks ...
Source: Farm Progress
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.