US Dairy Market Sales increase despite economic concerns.
Press Release Summary:
According to a study conducted by PMMI, Dairy Industry Market Research Study 2009, sales of dairy products in the US experienced an increase of 2% last year. This news comes despite an overall price hike of 95 and consequences of the economic downturn over the last 2 years. Discussing perspectives of 40 dairy processors, associations, and suppliers, the aforementioned study aims to analyze the local dairy market dynamics and determine the outlook for the dairy industry in the future.
Original Press Release:
U.S. Dairy Market Sales Continue to Increase Despite Concerns over Economy
PMMI Dairy Industry Market Research Study Identifies Current Trends and Future Outlook for Dairy Industry
Arlington, Va. (June 16, 2009)--PMMI's latest study, Dairy Industry Market Research Study 2009, reveals that while the U.S. dairy industry has been grappling with consequences of the economic downturn over the last two years, sales of dairy products in U.S. alone saw an increase of 2 percent last year - despite an overall price hike of 9 percent.
According to the International Dairy Foods Association, dairy continues to be the fourth-fastest growing grocery segment in the U.S. In fact, the dairy industry in this part of the world alone is a $50 billion per year business, of which almost 68 percent is dominated by 15 mega dairies (800-plus dairy cows). However, the industry also faces challenges, such as uncertain availability for raw materials and price fluctuations, which are likely to intensify in the coming years.
PMMI's new study, which discusses perspectives of 40 dairy processors, associations, and suppliers, aims to analyze the local dairy market dynamics and determine the outlook for the dairy industry in the future. Some of the key findings discussed in the report include:
PMMI is a trade association with more than 540 member companies that manufacture packaging and packaging-related converting machinery, commercially-available packaging machinery components, containers and materials in the United States and Canada. PMMI's vision is to be the leading global resource for packaging, and its mission is to improve and promote members' abilities to meet the needs of their customers. PMMI organizes the PACK EXPO trade shows: PACK EXPO International, PACK EXPO Las Vegas and EXPO PACK México. Learn more about PMMI at www.pmmi.org.
Contacts:
Kate Achelpohl, PMMI, kachelpohl@pmmi.org; 1.703.243.8555
Angie White, ABI, awhite@abipr.com; 1.212.549.4500 ext 239