Often considered conservative and slow-moving, the food industry experiences global transformation with respect to consumer engagement, stakeholder collaboration and technology adoption. The paper gives insights into dairy industry global trends as a result of this transformation.
It highlights how the volatile economic environment and tough employment scenarios are impacting consumers’ buying behavior. Dairy sales trends across multiple categories have been showing the fact that consumers continue to seek value in the purchase of dairy products.
The white paper also studies Dairy Industry value chain and lists out its various stakeholders, beginning with the farmers who produce milk, to the milk processors and manufacturers and finally the exporters and retailers and identifies their key areas.
Some of the emerging trends shaping the future of dairy industry are:
- Consolidation of the industry
- Adoption of digital technologies for consumer engagement and product innovation
- Changing global economics
- Elimination of production quotas by the EU
- Increased use of advanced manufacturing processes and technologies
- Consumer and community demands for health conscious products
The future of the industry depends on the abilities and strength of various industry players to build bridges across various markets and find new sales channels for milk and related products, thus inculcating a sustained global focus. The key to managing these challenges, and ultimately driving a differentiated growth, lies in designing and implementing business processes capable of addressing the modern day business challenges and supporting these processes through a flexible and integrated technology infrastructure.