Top 10 companies shaping dairy sector

GLOBAL – The global dairy market has surpassed the US$1 trillion mark and is expected to reach US$1.5 trillion by 2034, with a CAGR of 4.38% from now until 2034.

Growth is partly driven by rising demand for dairy in developing nations. The popularity of protein-rich products is boosting demand for dairy proteins.

The Asia Pacific region leads the way in dairy consumption, with India the number one consumer and China consuming more cheese and yoghurt. Ample milk supplies continue to put pressure on dairy commodity prices

1. Lactalis

Headquartered in Laval, France, its latest annual revenue was US$35 billion (FY2024), with an estimated global dairy market share of 3.5%. Key brands: Président, Galbani, Parmalat, Leerdammer.

Lactalis’ seemingly insatiable appetite for growth continues at a pace. Despite being the world’s number one dairy company and ninth biggest food company, it still seeks acquisition opportunities.  

Closer to its French home, Lactalis’s Swedish subsidiary, Skånemejerier, acquired the ProViva functional beverage brand, along with the Österlenmejeriet production facility in Skåne.

2. Nestle

Headquartered in Vevey, Switzerland, its latest annual revenue was US$24 billion (Est/FY2025), with an estimated global dairy market share: 2.39%. Key brands: Carnation, Coffee Mate, Illuma, NAN.

The company is currently in negotiations to sell its remaining ice cream brands to UK-based Froneri.

Froneri, the Häagen-Dazs owner, is a joint venture established by Nestlé and European private equity firm PAI Partners. Nestlé currently holds a 50% stake in the business. 

It appointed Philipp Navratil as CEO of Nestlé, S.A., following the dismissal of Laurent Freixe. Philipp Navratil began his career with Nestlé in 2001 as an internal auditor. After holding various commercial roles in Central America, he was appointed Country Manager for Nestlé Honduras in 2009.

3. Dairy Farmers of America

Headquartered in Kansas City, USA, it reported latest annual revenue of US$23 billion (FY2024), with an estimated global dairy market share of 2.3%. Key brands: Borden, Keller’s Creamery, Reiter Dairy.

DFA’s raison d’etre is to feed the world “the best dairy”. It does this as a farmer-owned cooperative with its 9,500 dairy farmers providing the high-quality milk and the co-op “doing the rest”.

Innovation is key to the co-op’s success, and last year, Dairy Pure launched Milk50, which contains 75% less sugar than original skimmed milk and 9g of protein.

Last month, the DFA was awarded up to US$46 million from the US Department of Agriculture’s Advancing Markets for Producers programme. The money is to help smaller dairies implement new conservation practices or bolster the ones they already have in use.

4. Danone

Headquartered in Paris, France, it reported its latest annual revenue of US$17.42 billion (FY 2025) – EDP (essential dairy and plant-based division), with an estimated global dairy market share of 1.51%. Key brands are Activia, Aptamil, Danone, and Oikos.

In 1972, Danone’s former CEO Antoine Riboud introduced the company’s Dual Project, the belief that businesses could be both profitable and a force for positive change.

Recently, the company acquired MADE Group, a fast-growing Australia-based company with a health-focused portfolio and the remaining 49% stake in its existing fresh dairy joint venture with Saputo Dairy Australia.

5. Arla Foods

Headquartered in Viby J, Denmark, it reported latest annual revenue of US$17.20 billion (FY2025), with an estimated global dairy market share of 1.5%. The biggest brands are Arla, Lurpak, Castello, and Puck.

Arla Foods’ main aim is to ensure that “nutritious, sustainable dairy” is available to the world, and it says it is building the capacity to get there.

 In FY25, the cooperative committed to a high level of investment of US$832.6 million (EUR 731 million), directing capital towards expanding capacity in high-growth categories.

Recently, the company deepened its investment in Australia by acquiring the family-owned cottage cheese producer Brancourts.

6. Yili

Headquartered in Hohhot, Inner Mongolia, the latest annual revenue was US$15.98 billion (2024), with an estimated global dairy market share of 1.6%. Key brands: Ambpoeial, Cremo, Joyday, Satine.

With its mantra “Yili means the best quality”, the company’s vision is to become a world leader in dairy by expanding its presence overseas. It is also keen to enhance global wellbeing.

Recently, the company teamed up with Alibaba Cloud to bolster digital transformation across the dairy industry through the deployment of artificial intelligence technology.

7. FrieslandCampina

Headquartered in Amersfoort, the Netherlands, the company’s latest annual revenue was US$15.35 billion (FY2025), with an estimated global dairy market share of 1.55%. Key brands: Alaska Milk, Campina, Chocomel.

The company’s ambition is to make top-quality dairy products so that it can generate maximum value for its farmers.

In December 2025, Milcobel farmers joined FrieslandCampina, while in January 2026, the acquisition of US-based Wisconsin Whey Protein was completed.

8. Fonterra

Headquartered in Auckland, New Zealand, the company reported its latest annual revenue of US$15.05 billion (FY2025), with an estimated global dairy market share of 1.52%. Key brands: Anchor, Anmum, and Anlene.

Fonterra’s strategy is to empower its people to create goodness for generations. The company sold its Consumer and associated businesses to Lactalis for NZD 3.845 billion (US$2.245 billion).

The sale comprises Fonterra’s global Consumer business (excluding Greater China) and Consumer brands; the integrated Foodservice and Ingredients businesses in Oceania and Sri Lanka; and the Middle East and Africa Foodservice business.

9. Saputo

Headquartered in Montreal, Canada, it reported annual revenue of US$12.6 billion (FY26) and has an estimated global dairy market share of 1.39%. Key brands: Cathedral City, Frigo, Neilson, Saputo.

The Saputo Promise guides the company in ensuring it lives up to the values on which it was founded in 1954.

The Promise comprises seven pillars: food quality and safety; people; business ethics; responsible sourcing; environment; nutrition; and community.

Saputo is reportedly refining its global operations to drive long-term growth and enhance financial flexibility, enabling reinvestment in growth opportunities.

10. Mengniu

Headquartered in Hohhot, Inner Mongolia, it reported its latest annual revenue of US$11.92 billion for full-year 2025, with an estimated global dairy market share of 1.27%. Key brands: Milk Deluxe, Just Yoghurt, Champion.

In 2025, Mengniu adopted a more customer-centric approach to business, which it hopes will enable rapid product and technological innovation to meet consumers’ diverse needs.

It noted that, with a brand that stands for safety, quality and nutritional value, Mengniu will appeal to mass-market consumers who recognise its value proposition, particularly among the younger generation, and become a well-loved consumer brand.

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