Global liquid dairy products consumption forecasted to surge during current decadeGlobal liquid dairy products consumption forecasted to surge during current decade
January 29, 2014
New research from Tetra Pak, the world's leading food processing and packaging company, forecasts a rise of around 30 percent in global consumption of milk and other liquid dairy products (OLDP) from 2010 to 2020.
This consumption boom will be driven by economic growth, urbanization and the rising purchasing power of Asia's middle class, according to the fourth issue of the Tetra Pak Dairy Index, which tracks worldwide facts, figure and trends in the global dairy industry.
Demand for liquid dairy products (LDP) will rise in every region of the world between 2010 and 2020, with the exception of Western Europe, which has the world's highest per capita consumption of milk. The liquid dairy boom reflects a growing shift in economic power from West to East. An emerging middle class is set fuel demand for healthy, package products in supermarkets and convenience stores from Shanghai to Mumbai.
Global demand for white milk and OLDP--- including flavored milk, drinking yoghurt, sweetened condensed milk, lactic acid drinks and infant milk --- is excepted to grow to around 350 billion litres by 2020, compared with some 270 billion liters in 2010.
Tetra Pak President and CEO Denis Johnson said: "Economic growth in emerging markets has lifted many millions out of poverty. They have more money are better educated and have new aspirations. It's clear that meeting the world's growing thirst for milk will be both a challenge and an opportunity for dairy producers. I'm convinced the industry can realize these growth opportunities in a sustainable and innovative way, providing the healthy, nutritious and convenient products that people want."
This article is distributed by Pakistan Press Intl. via Acquire Media.
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