Dry Condensed and Evaporated Milk

Dry Condensed and Evaporated Milk Market Outlook

The global dry condensed and evaporated milk market is poised to reach approximately USD 8.6 billion by 2035, expanding at a compound annual growth rate (CAGR) of around 5.2% from 2025 to 2035. This growth can be attributed to the increasing demand for easy-to-use and shelf-stable dairy products, particularly in the bakery and confectionery sectors. Additionally, the rising popularity of ready-to-eat meals globally, along with a growing population, has fueled the demand for dry milk products. Consumer preferences shifting towards convenience foods, along with innovations in product formulations, are also significant contributors to market expansion. Furthermore, the penetration of e-commerce platforms has enhanced the availability of these products, making it easier for consumers to access a variety of dry milk options.

Growth Factor of the Market

The dry condensed and evaporated milk market is experiencing a significant growth phase, driven by several key factors. The increasing trend of mixing dry milk powder in various culinary applications, including baking and cooking, has augmented its market penetration. Additionally, the rising awareness concerning the nutritional benefits of milk powder, particularly in regions with limited access to fresh dairy products, is contributing to its demand. Furthermore, the expansion of the food processing industry, coupled with the burgeoning demand for convenience foods, is propelling the market forward. Innovations such as lactose-free and fortified milk powders are gaining traction, attracting health-conscious consumers. Urbanization, changing lifestyles, and the increase in disposable incomes are also fostering a favorable environment for market growth, as consumers are more inclined to purchase processed food items.

Key Highlights of the Market

• The global market is projected to reach USD 8.6 billion by 2035.
• Increasing demand for long shelf-life dairy products drives market growth.
• Innovations in product formulations attract a wider consumer base.
• The expansion of e-commerce enhances market accessibility.
• Rising awareness regarding nutritional benefits supports demand.

By Product Type

Dry Condensed Milk Powder:

Dry condensed milk powder is gaining popularity primarily due to its versatility and ease of use in various culinary applications. This product type is ideal for recipes requiring a rich, sweet creamy texture without the need for refrigeration, making it perfect for baking, confectionery, and other culinary creations. The increasing demand for sweet and creamy ingredients in desserts and beverages has led to a surge in its use among both professional chefs and home bakers. As consumer preferences shift towards convenience, the dry condensed milk powder's ability to provide long shelf life and ease of storage has made it a favored choice among consumers, driving significant growth in this segment.

Dry Evaporated Milk Powder:

Dry evaporated milk powder is another significant segment within the dry condensed and evaporated milk market, recognized for its creamy texture and remarkable ability to enhance the flavor profile of various dishes. It is often employed in sauces, soups, and dairy-based products, making it a staple in the culinary industry. The demand for evaporated milk powder has also been bolstered by the increasing trend of using powdered ingredients in ready-to-eat meals. Moreover, its nutritional benefits, including high protein content, make it an appealing option for health-conscious consumers looking to incorporate more nutritious elements into their diets.

Dry Sweetened Condensed Milk Powder:

This product type plays a pivotal role in the dessert and confectionery sectors, where sweetness and creaminess are essential. Dry sweetened condensed milk powder combines convenience with the desirable attributes of rich flavor and texture, serving as a key ingredient in various sweet dishes, cakes, and pastries. The rising trend of homemade desserts and the growing popularity of baking as a recreational activity among consumers have significantly increased the demand for this product segment. As consumers become more aware of the versatility of sweetened condensed milk powder, its usage in both traditional and innovative recipes is expected to drive growth further.

Dry Unsweetened Condensed Milk Powder:

The dry unsweetened condensed milk powder segment is gaining traction, especially among health-conscious consumers who prefer lower-sugar alternatives. This product is ideal for both savory and sweet dishes, providing a creamy texture without added sugars. Its ability to blend seamlessly into recipes makes it a preferred choice in various culinary applications, including soups, sauces, and baked goods. As more consumers gravitate toward healthier eating practices, the demand for unsweetened products is anticipated to rise, thus positively impacting the growth of this segment within the market.

Dry Evaporated Skimmed Milk Powder:

Dry evaporated skimmed milk powder represents a growing niche within the dry milk market, appealing to those who are seeking lower-fat alternatives. This product retains the nutritional benefits of milk while minimizing the fat content, making it an attractive choice for fitness enthusiasts and those on dietary restrictions. Its application ranges from baking to incorporation in low-fat dairy products, which has led to increased adoption in the food processing sector. As consumers become more health-conscious and demand for low-fat products rises, the dry evaporated skimmed milk powder segment is poised for substantial growth.

By Application

Bakery:

In the bakery sector, dry condensed and evaporated milk products are widely utilized for their ability to enhance the flavor and texture of baked goods. They provide moisture, creaminess, and a rich taste to cakes, pastries, and breads. The growing trend of artisanal baking and the increasing number of home bakers have heightened the demand for these ingredients as consumers seek convenience without compromising on quality. Furthermore, the flexibility of dry milk products allows for easy incorporation into various recipes, making them a staple in both commercial bakeries and home kitchens.

Confectionery:

In the confectionery industry, dry condensed and evaporated milk products are essential for creating a creamy texture and rich flavor in candies, chocolates, and desserts. The ability of these ingredients to blend well with various flavors and other components makes them indispensable in sweet treat formulations. As the demand for innovative confectionery products grows, manufacturers are increasingly turning to dry milk powders to enhance their offerings, leading to a greater emphasis on product development and customization to meet consumer preferences.

Dairy Products:

Dry milk products are foundational ingredients in the production of various dairy products, including cheese, yogurt, and creamers. They provide necessary nutrients and contribute to the overall consistency and flavor profile of these items. With the increasing consumer focus on dairy-based products rich in protein and other nutrients, the demand for dry condensed and evaporated milk is expected to rise significantly. Additionally, the expanding application of dry milk in lactose-free and specialty dairy products caters to the diverse dietary needs of consumers, further driving market growth.

Ready-to-eat Meals:

The surge in demand for ready-to-eat meals is significantly impacting the dry condensed and evaporated milk market, as these products add nutritional value and enhance flavor. Dry milk powders are often incorporated into meal kits and convenience foods, contributing to the overall appeal of the products. As consumers increasingly seek quick and nutritious meal options, manufacturers are focused on integrating dry milk ingredients to enhance the taste and nutritional profile of their offerings, which is expected to boost market growth in this application segment.

Beverages:

Dry condensed and evaporated milk products are gaining traction in the beverages sector, particularly in coffee, tea, and other ready-to-drink options. Their ability to provide creaminess and flavor without the need for refrigeration makes them an attractive ingredient for beverage manufacturers. Additionally, the rising trend of specialty coffee and tea drinks has led to increased usage of dry milk products as consumers look for convenient solutions for enhancing their beverage experience at home or on-the-go. As the market for functional and indulgent beverages continues to expand, the demand for dry milk powders is expected to grow correspondingly.

By Distribution Channel

Online Stores:

Online stores have emerged as a vital distribution channel for dry condensed and evaporated milk products, largely due to the convenience and accessibility they offer to consumers. The trend of online shopping has accelerated, especially following the pandemic, with consumers increasingly turning to e-commerce platforms for their grocery needs. This shift allows for easy browsing of a wide variety of products, including different brands and types of dry milk powders, catering to diverse consumer preferences. As more consumers embrace online shopping, the demand for dry milk products through this channel is expected to witness significant growth in the coming years.

Supermarkets/Hypermarkets:

Supermarkets and hypermarkets continue to be dominant distribution channels for dry condensed and evaporated milk products, as they provide a wide selection of products under one roof. These retail formats often feature dedicated sections for dairy products, making it easy for consumers to locate and choose their preferred dry milk options. The availability of promotional offers and bulk purchasing options further encourages consumers to buy these products in larger quantities. With the growing trend of health-conscious shopping, supermarkets and hypermarkets are also increasingly stocking a range of specialty and organic dry milk products, catering to evolving consumer demands.

Convenience Stores:

Convenience stores are becoming an increasingly important distribution channel for dry milk products due to their focus on providing quick and easy access to essentials. As consumers lead busier lifestyles, the need for readily available food items has driven up the demand for dry milk products in these retail outlets. Convenience stores often carry popular brands and smaller packaging sizes, allowing consumers to purchase products on-the-go. As this trend continues, the prominence of convenience stores as a distribution channel for dry condensed and evaporated milk is expected to grow, aligning with consumer demand for convenience and ease of access.

Specialty Stores:

Specialty stores, including health food shops and gourmet markets, play a crucial role in the distribution of niche dry milk products. These stores often cater to specific dietary needs, offering options such as organic, non-GMO, or lactose-free dry milk powders, which appeal to health-conscious consumers. The unique offerings available at specialty stores create a favorable environment for the growth of premium and specialty dry milk products, as they provide consumers with the ability to seek high-quality options tailored to their preferences. As awareness regarding nutrition and food quality increases, the demand for specialty dry milk products is expected to rise.

Others:

This category encompasses various alternative distribution channels, including food service providers, wholesalers, and institutional sales. These channels play a pivotal role in the supply chain for dry condensed and evaporated milk products, serving restaurants, cafes, and catering businesses. The demand for dry milk products in the food service industry is driven by the need for consistent quality and convenience, enabling chefs and food professionals to deliver high-quality dishes efficiently. As the food service sector continues to evolve, the reliance on dry milk products is expected to grow, further contributing to market expansion.

By Ingredient Type

Whole Milk:

Whole milk serves as a primary ingredient in the production of dry condensed and evaporated milk powders, offering a rich flavor and creaminess that is highly sought after in various culinary applications. Products made from whole milk are favored in the bakery and confectionery industries due to their ability to enhance the texture and taste of baked goods and desserts. As consumer preferences continue to trend towards full-fat and nutrient-dense products, the demand for whole milk-derived dry products is anticipated to grow, driving substantial growth in this ingredient segment.

Skimmed Milk:

Skimmed milk is increasingly favored by health-conscious consumers and is often used in production to create dry milk powders with reduced fat content. These products allow consumers to enjoy the benefits of dry milk while adhering to dietary preferences or restrictions. The growing trend of low-fat and healthier eating habits is expected to boost the demand for skimmed milk-based dry condensed and evaporated milk products across various applications, from beverages to ready-to-eat meals.

Sweeteners:

Sweeteners are often included in the formulation of dry sweetened condensed milk powder, catering to the consumer demand for sweetening agents in desserts and baked goods. The use of natural sweeteners, such as stevia or honey, is gaining traction among health-conscious consumers seeking alternatives to refined sugar. As the market for sugar substitutes expands, the incorporation of sweeteners in dry milk products is projected to grow, allowing manufacturers to cater to evolving consumer preferences while meeting the demand for reduced sugar content in food products.

Stabilizers:

Stabilizers play an essential role in enhancing the texture and shelf life of dry condensed and evaporated milk products. These ingredients help maintain product quality during storage and ensure consistency in formulation. The increasing need for convenience and long shelf-life products drives the demand for dry milk powders that contain stabilizers. As consumers seek reliable options without compromising on quality, the inclusion of stabilizers is expected to become a more common practice among manufacturers, further propelling the growth of this ingredient segment.

Vitamins & Minerals:

The incorporation of vitamins and minerals in dry condensed and evaporated milk products is becoming increasingly popular as consumers prioritize health and nutrition. Fortified dry milk powders provide additional nutritional benefits, appealing to families and health-conscious individuals. The growing awareness regarding the importance of micronutrients in diets, particularly in regions with limited access to fresh dairy products, is expected to bolster the market for fortified dry milk products. As consumer preferences shift towards health-oriented choices, the demand for dry milk products enriched with vitamins and minerals is likely to rise significantly.

By Region

The North American region is a leading market for dry condensed and evaporated milk, driven by robust demand from the food processing and culinary sectors. The presence of established food manufacturers and a well-developed retail infrastructure facilitates market growth. The U.S. is the largest contributor, accounting for a significant portion of the regional market share due to the increasing trend of convenience food consumption and the popularity of baking at home. The North American market is expected to witness a CAGR of 5.5% during the forecast period as consumer interest in dairy-based products continues to grow, supported by innovations in product development.

In Europe, the dry condensed and evaporated milk market is also experiencing steady growth, primarily due to the increasing popularity of dairy products and the rise of health-conscious consumer behavior. Countries such as Germany, France, and the UK are witnessing significant demand for dry milk products, spurred by the baking and confectionery industries. The European market is projected to demonstrate a CAGR of around 4.8% from 2025 to 2035 as manufacturers focus on product differentiation and the introduction of health-oriented dry milk options to cater to consumer preferences. This region's diverse culinary landscape further supports the demand for various dry milk applications.

Opportunities

The dry condensed and evaporated milk market presents numerous opportunities for growth, especially in emerging markets where the demand for dairy products is on the rise. As urbanization continues to expand in regions such as Asia Pacific and Latin America, consumers increasingly seek convenient and shelf-stable food options. Manufacturers can capitalize on this trend by introducing innovative products tailored to local tastes and preferences, such as flavored or fortified dry milk powders. Furthermore, strategic partnerships with local distributors and retailers can enhance market penetration, allowing brands to reach a broader audience across these developing regions and ultimately driving sales growth.

Another significant opportunity lies within the health and wellness sector, where consumers are becoming increasingly conscious of their dietary choices. The demand for low-fat, organic, and fortified dry milk products is on the rise, prompting manufacturers to invest in research and development to cater to these preferences. By leveraging these trends, companies can create products that align with the growing consumer focus on nutrition and health, thus positioning themselves competitively in the market. Additionally, the expansion of e-commerce platforms provides an avenue for manufacturers to directly connect with consumers, fostering brand loyalty and increasing overall sales.

Threats

Despite the growth potential, the dry condensed and evaporated milk market faces several threats, primarily from fluctuating raw material prices and supply chain disruptions. The dairy industry is subject to price volatility due to factors such as changing weather patterns affecting milk production, global demand fluctuations, and trade policies. These uncertainties can impact production costs and ultimately lead to higher prices for consumers, which may deter purchases. Additionally, the increasing prevalence of plant-based alternatives poses a competitive threat, as more consumers are opting for non-dairy options due to concerns about health, sustainability, and lactose intolerance. This shift may impact the demand for traditional dairy products, including dry milk powders, requiring manufacturers to adapt and innovate continually.

Another critical restraining factor is the stringent regulations surrounding food safety and quality standards. Compliance with these regulations often entails significant investment in quality control processes and product testing, which can strain resources for smaller manufacturers. Moreover, the emphasis on transparency and clean labeling is pushing brands to reformulate products and disclose ingredient sourcing, which can present challenges. Manufacturers must navigate these regulatory landscapes while meeting consumer expectations, making it crucial to strike a balance between compliance and product innovation to remain competitive in an evolving market.

Competitor Outlook

• Nestlé S.A.
• Danone S.A.
• Fonterra Co-operative Group Limited
• Groupe Lactalis
• FrieslandCampina
• Dean Foods Company
• Saputo Inc.
• Hilltop Foods
• Meiji Holdings Co., Ltd.
• UHT Milk Products Co., Ltd.
• Amul (Gujarat Cooperative Milk Marketing Federation Ltd.)
• Glanbia plc
• Arla Foods amba
• Bel Group
• China Mengniu Dairy Company Limited

The competitive landscape of the dry condensed and evaporated milk market is characterized by the presence of several well-established players and a growing number of niche companies. Major companies are focusing on expanding their product portfolios and enhancing distribution networks to cater to the rising demand for dry milk products. Strategic collaborations, mergers, and acquisitions are common strategies employed by these firms to strengthen their market positions and increase operational efficiencies. Additionally, companies are investing significantly in research and development to create innovative products that align with consumer preferences and dietary trends, such as lactose-free and organic options.

Among the leading companies in this market is Nestlé S.A., known for its diverse portfolio of dairy products, including various dry milk options. The company's commitment to quality and innovation has solidified its reputation as a market leader. Nestlé has also been actively pursuing sustainability initiatives, which resonate well with the growing environmentally-conscious consumer base. Fonterra Co-operative Group Limited is another key player, recognized for its high-quality dairy ingredients and strong presence in international markets. The company continues to expand its offerings to meet the evolving needs of customers while emphasizing sustainability and ethical sourcing practices.

Another prominent player, Danone S.A., is dedicated to promoting health and wellness through its range of dairy products, including dry condensed and evaporated milk. The company has been proactive in adapting to changing consumer demands, focusing on organic and fortified options that cater to health-conscious individuals. Additionally, FrieslandCampina is a significant player in the dairy sector, leveraging its extensive distribution network to reach consumers globally. The company's emphasis on quality and innovation in product development has enabled it to maintain a competitive edge in the market while addressing the diverse needs of its customer base.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 Bel Group
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Danone S.A.
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Glanbia plc
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Saputo Inc.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 Hilltop Foods
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 Arla Foods amba
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Groupe Lactalis
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 FrieslandCampina
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Dean Foods Company
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Nestlé S.A.
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 Meiji Holdings Co., Ltd.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 UHT Milk Products Co., Ltd.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 China Mengniu Dairy Company Limited
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Fonterra Co-operative Group Limited
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Amul (Gujarat Cooperative Milk Marketing Federation Ltd.)
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Dry Condensed and Evaporated Milk Market, By Application
    • 6.1.1 Bakery
    • 6.1.2 Confectionery
    • 6.1.3 Dairy Products
    • 6.1.4 Ready-to-eat Meals
    • 6.1.5 Beverages
  • 6.2 Dry Condensed and Evaporated Milk Market, By Product Type
    • 6.2.1 Dry Condensed Milk Powder
    • 6.2.2 Dry Evaporated Milk Powder
    • 6.2.3 Dry Sweetened Condensed Milk Powder
    • 6.2.4 Dry Unsweetened Condensed Milk Powder
    • 6.2.5 Dry Evaporated Skimmed Milk Powder
  • 6.3 Dry Condensed and Evaporated Milk Market, By Ingredient Type
    • 6.3.1 Whole Milk
    • 6.3.2 Skimmed Milk
    • 6.3.3 Sweeteners
    • 6.3.4 Stabilizers
    • 6.3.5 Vitamins & Minerals
  • 6.4 Dry Condensed and Evaporated Milk Market, By Distribution Channel
    • 6.4.1 Online Stores
    • 6.4.2 Supermarkets/Hypermarkets
    • 6.4.3 Convenience Stores
    • 6.4.4 Specialty Stores
    • 6.4.5 Others

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Middle East & Africa - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 Middle East
      • 10.5.1.2 Africa
  • 10.6 Dry Condensed and Evaporated Milk Market by Region

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Dry Condensed and Evaporated Milk market is categorized based on

By Product Type

• Dry Condensed Milk Powder
• Dry Evaporated Milk Powder
• Dry Sweetened Condensed Milk Powder
• Dry Unsweetened Condensed Milk Powder
• Dry Evaporated Skimmed Milk Powder

By Application

• Bakery
• Confectionery
• Dairy Products
• Ready-to-eat Meals
• Beverages

By Distribution Channel

• Online Stores
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Others

By Ingredient Type

• Whole Milk
• Skimmed Milk
• Sweeteners
• Stabilizers
• Vitamins & Minerals

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Nestlé S.A.
• Danone S.A.
• Fonterra Co-operative Group Limited
• Groupe Lactalis
• FrieslandCampina
• Dean Foods Company
• Saputo Inc.
• Hilltop Foods
• Meiji Holdings Co., Ltd.
• UHT Milk Products Co., Ltd.
• Amul (Gujarat Cooperative Milk Marketing Federation Ltd.)
• Glanbia plc
• Arla Foods amba
• Bel Group
• China Mengniu Dairy Company Limited