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So, how did the dairy industry perform in Q4 2024?
🟢 Revenue growth: Revenue growth remained positive, with an emphasis on branded products, premiumization, and functional nutrition. Companies focusing on functional and specialized nutrition (e.g., high-protein dairy, medical nutrition, and plant-based alternatives) outperformed traditional dairy segments.
🟢 Profitability: Despite the whey protein price inflation and energy costs pressures, profitability improved for most companies. The positive profit performance was partially caused by the focus on the cost cutting strategies. For example, FrieslandCampina reported cost reduction of €315M and Arla reduced their costs by €151M.
🟡 Market dynamics: Demand for health-oriented products and premium dairy remained strong, but European private label competition and economic slowdowns in emerging markets created challenges for some brands. Currency devaluations in Nigeria and Argentina impacted revenue performance for FrieslandCampina and Saputo.
🟢 Growth outlook: The 2025 revenue outlook remains positive, driven by higher dairy prices, growing demand for functional and high-protein nutrition, and strategic acquisitions. Companies like Arla Foods and DSM Firmenich expect solid top-line growth from premium product categories and M&A activity.
🟡 Profitability outlook: While some companies anticipate margin expansion through efficiency initiatives (e.g., Kerry’s Accelerate 2.0program and FrieslandCampina’s Performance+ cost reduction plan), others may struggle with fluctuating dairy prices and foreign exchange volatility.
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