Dean Foods announcing it has filed for Chapter 11 bankruptcy
protection. Dairy Farmers of America is in discussions to purchase the assets.
The U.S. dairy community remains a strong and diverse
sector, achieving consistent growth in per capita consumption for 25 years in
retail category worth over $100 billion. In fact, domestic dairy sales are up
2.5 percent as of August 2019. Cheese and butter are at all-time consumption
highs.
Fluid milk remains a staple in 94 percent of U.S. households
and we're seeing segments of strong growth in what is a $13.4 billion retail
category. In whole milk categories alone, there has been almost a billion dollars
in growth over the last three years. We've seen pockets of growth in lactose
free as we've addressed the digestive concerns from consumers. And in flavored
milk, we've seen growth with innovation and the proof that chocolate milk is
the perfect post-exercise recovery beverage on the science side.
In a decade shaped by a constantly changing marketplace,
U.S. dairy has and will continue to successfully navigate the current economic
environment. Dairy is well positioned to expand its growth through innovation
designed to meet the changing tastes and needs of today's consumers.
The industry is rapidly evolving and now includes a much
more diverse portfolio of products and innovation that drive consumption
including yogurt, cottage cheese and on-the-go beverages such as flavored
coffees, smoothies and more.