Innovative cheese, butter, and yogurt products fuel dairy market growth in the US

Published 2024년 7월 18일

Tridge summary

Despite the decline in milk consumption, the overall dairy sales in the US are on a multi-year growth streak, led by cheese, butter, and yogurt. The refrigerated dairy aisle has been the largest category in retail grocery, with sales reaching $76 billion in the last year. The outlook for retail dairy sales remains strong, with cheese and butter showing potential for further growth. Dairy products are benefiting from the trend towards healthy, protein-rich snacks. Per capita cheese and butter consumption in the US has doubled and tripled respectively over the last 20 years. Private label sales are also outpacing premium brands in many dairy categories, as consumers prefer clean labels and fewer ingredients.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

US consumers are drinking less milk with each passing year, but overall dairy sales are on a multiyear winning streak, according to a recent market report from CoBank. Cheese, butter and yogurt are fueling category growth, along with new dairy-based products designed to capitalize on convenience, health and snacking trends. Data from market research firm Circana shows the refrigerated dairy aisle has been the largest category in retail grocery over the last year with $76 billion in sales. Over the last three years, dairy retail sales have notched a growth rate of 15.4% or $10.1 billion. According to a new report from CoBank’s Knowledge Exchange, the outlook for retail dairy sales remains strong with additional room for growth as consumer preferences and purchasing behaviors evolve. Cheese and butter have even more upside potential, and dairy products tailored to meet consumers’ growing desires for healthy, protein-rich snack products have emerged as a new growth opportunity. ...

Source: The Cattle Site