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For some SMBs, a journey towards industry 4.0 can seem daunting and inaccessible. With tech advancements feeling too expensive, or out of their league. But it doesn’t have to be that way says OFS.
A recent survey has shown that companies investing in Industry 4.0 technology is low within the food and beverage industry. That needs to change explains Beca’s Rhys Davies.
Heat and Control is an engineering and manufacturing-focused company that has a large global customer base, which entails it having long-standing relationships with a plethora of large-scale consumer and end-product manufacturers.
Australian winery, The Hidden Sea, won gold at the 2021 People’s Choice Drinks Awards in the UK — taking the crown for the most coveted category – “Wine Passion: The Story Behind the Label.”
Following the news that the Coca-Cola Company is trialling its first paper bottle, GlobalData have offered their take on the move.
Up until 20 years ago, not much was happening in the field of nano technology as it related to food and beverages. However, in the past 15 to 20 years there have been a number of academic papers published, as well as references made, with regard to the technology and how it can be applied to this industry.
In the December issue of Food & Beverage Industry News, Dr Julian McClements – distinguished professor at Department of Food Science at the University of Massachusetts, adjunct professor, School of Food Science and Bioengineering at Zhejaing Gongshang Uni, China, and visiting professor, Harvard University, talked about the future of food. And part of that future included nanotechnology.
Over 70% of consumers are looking for sustainable solutions to make a difference in a world where plastics must be avoided as much as possible and with one of the most important values of Belgian company Aoste was environmental sustainability, which leads the company to find increasingly efficient solutions to offer a sustainable alternative to improper use of plastic. Aoste has been producing high-quality meat products since 1976, such as Cooked ham, poultry, vegetarian slices, guaranteed by the best ingredients, expertise and careful preparation. Aoste products are genuine, without unnecessary additives, such as nitrites, dyes and flavours, replaced by vegetable alternatives, such as salt and spices that can ensure conservation, with a focus on an optimal taste experience.
Keytone Dairy Corporation Ltd (“Keytone Dairy”), has completed the fund raising for its proposed listing on the Australian Securities Exchange (“ASX”) via an Initial Public Offering (“IPO”). Demand for shares in KTD significantly exceeded the maximum fund raising of A$12 million (up to A$15 million with oversubscriptions) and as a result scale backs on the number of applications received have been applied.
Keytone Dairy conducted a targeted marketing campaign in Australia, New Zealand and Asia, and has attracted a number of institutional investors to its register. These include institutions already familiar with the powdered dairy market, as well as institutions with no prior investments in the sector that were attracted to the powdered dairy sector dynamics, as well as the growth potential of Keytone Dairy. Peloton Capital acted as lead broker to the IPO.
Upon listing, Keytone Dairy will have a market capitalisation of A$30 million (based on the IPO issue price of $0.20 per share). Funds from the IPO will be used primarily to:
- Expand Keytone Dairy’s manufacturing base from its one existing facility (thus substantially expanding its production capacity),
- Expand Keytone Dairy’s product range,
- Expand Keytone Dairy’s existing distribution network, and
- Develop distribution in additional geographic markets.
Bernard Kavanagh, Keytone Dairy’s Non-Executive Chairman and dairy industry veteran said, “We are extremely pleased with the response we have received to the Keytone Dairy offer from both institutional and retail investors in Australia and offshore. This is a very exciting time for Keytone Dairy and we warmly welcome all our new shareholders to the register.”
James Gong, Managing Director and Chief Executive Officer, said, “We believe that the ASX listing will accelerate Keytone Dairy’s growth. Keytone Dairy has already purchased land for two new manufacturing facilities it plans to build, in addition to its purpose built existing Christchurch facility. Once completed, these facilities will enable Keytone Dairy to both increase its capacity and expand into a number of new products, to meet customer demand. Importantly, the new facilities will enable the Company to meet demand from high-volume customers in China and other Asian countries.”
As part of the IPO, Keytone Dairy will acquire Keytone Enterprises (NZ) Company Limited (“Keytone NZ”) which is a profitable New Zealand-based manufacturer, packer and exporter of dairy and nutrition blended products, with a focus on powdered dairy products. Since 2014, Keytone NZ has been using its proprietary manufacturing facility in Christchurch, New Zealand, and has commercialised whole and skim milk powder as well as other dairy powder blends under its proprietary brands. Keytone NZ also contract-packs a range of powdered dairy products for major supermarkets, retail chains, dairy producers and other customers, in New Zealand and China, under their private label brands.
Keytone NZ’s products are exported globally, including to China, for sale in a variety of channels, including major supermarket chains, premium retail channels and online marketplaces. Keytone NZ’s customers and distribution channels include, New World, PAK’nSAVE, Countdown (Woolworths New Zealand subsidiary), Dairyworks New Zealand, Metro, Guangzhou Dept. & Friendship Store, HalsoKraft, JD.com, Tmall.com and VIP.com.
Morinaga Milk Industry has announced it has attained self-affirmed GRAS (generally recognised as safe) status in the United States for LAC-Shield, a unique immunogenic ingredient. This development opens the door for manufacturers of dietary supplements, functional foods and beverages in the US to include LAC-ShieldTM in products designed to enhance immune function.
Thanks to mounting research demonstrating the positive health benefits of probiotics, the probiotics market has experienced explosive growth over the past decade. In fact, according to Nutrition Business Journal, probiotics posted 17 per cent year-over-year growth from 2015 to 2016 in the US — the highest of any supplement category. BCC Research predicts the global market will grow to US$50b (A$67.3b) in 2020, as people’s awareness of and interest in healthful products continues to increase. However, the market is evolving beyond conventional probiotics to include metabolites of probiotics and non-viable microbes — called “immunogenics” or “immunobiotics.”
LAC-Shield (Lactobacillus paracasei MCC1849), widely recognised in Japan for its ability to enhance immunity, is one such ingredient. Unlike live cultures, LAC-Shield is rendered non-viable by heat treatment. Yet LAC-Shield still induces the production of a cytokine which activates and stimulates immune function.
LAC-Shield’s immune-boosting power was recently demonstrated in a human clinical study Morinaga Milk conducted with Kyushu Women’s University, which found it can lower the risk of contracting the common cold in susceptible subjects (Murata et al., Benef Microbes. 2018, in press). Another human clinical study, reported by Maruyama et al. (Int J Food Sci Nutr. 2016), found LAC-Shield may enhance the immune responses of the flu vaccine in the elderly with immunosenescence.
One of the most noteworthy aspects of LAC-Shield is the diversity of its potential applications. Usually, probiotics are difficult to incorporate into functional foods and beverages because of their intolerance of high temperatures and moisture. However, since LAC-Shield is pasteurised, it is highly tolerant of high heat and humidity, making it easy for manufacturers to incorporate it into a wide variety of products.
“In recent years, people have been demanding additional value and health benefits from the foods they consume. LAC-Shield has excellent potential to respond to those needs in the global market,” said Ko Shiino, general manager of the International Division at Morinaga Milk. “Achieving GRAS status enables LAC-Shield to be included in a wide variety of functional foods and beverages. We will continue our efforts to gain GRAS status for other probiotics in our portfolio so that we can contribute to healthier and brighter futures of people throughout the world.”
Morinaga Milk has a solid track record with GRAS ingredients. It attained GRAS status for its flagship probiotic Bifidobacterium longum BB536 (GRAS Notice No. GRN 000268) in 2007 and for Bifidobacterium breve M-16V (GRAS Notice No. GRN 000453 and GRN 000454) in 2013. BB536 is well-known for its stability, quality and wide-ranging functional effects, as shown by 160 scientific reports, including numerous clinical studies. M-16V is well-known for its strong safety profile and its efficacy in infants, having been used in more than 120 Neonatal Intensive Care Unit (NICU) hospitals in Japan for low-birth-weight infants to support healthy growth. As a result, Morinaga Milk attained not only FDA-notified GRAS status for M-16V, but also GRAS status for infants.
At an AIP NSW meeting in Sydney earlier this month in July, Aleah Back was awarded the prestigious Harry Lovell award for academic excellence.
In 2014, Aleah Back, a qualified packaging technologist who is currently employed as Quality Specialist – Fresh – In-Store Bakery at Woolworths Limited, was awarded the APPMA Annual Scholarship to undertake the Diploma in Packaging Technology.
In 2016 she graduated achieving her Diploma in record time and excelled in her final exam results.
Subsequently, the AIP Education Committee has decided to formally acknowledge her outstanding achievements as a student of the Diploma in Packaging Technology by awarding Aleah the Harry Lovell Award.
The Harry Lovell Award recognises outstanding achievement in the examinations leading to the Diploma in Packaging Technology and has not been awarded since 2013.
The Wimmera Mallee’s agriculture sector will soon be transporting produce to market with the Victorian state government’s Local Roads to Market program.
Victorian Minister for Agriculture Jaala Pulford had announced the $5.54 million through round two of the program to widen a dangerously narrow 1.5 kilometre-section of Minyip-Banyena Road in the Yarriambiack Shire to improve access for heavy vehicles to cart grain and other produce.
It’s one of 17 local road and bridge upgrades across eight shire councils in the region that will share in nearly $10 million to improve heavy vehicle access from the farmgate to arterial roads, receival centres and transport hubs.
The grants will be used to widen and seal roads, improve the load bearing capacity of bridges and intersection works, and fund the following key projects in the Wimmera Mallee region:
- $1.3 million to seal and widen roads that service the large grain community in the Yarriambiack Shire.
- $1.2 million for the Yeungroon Road and Birchip-Corack Road projects in the Buloke Shire, improving access for B-Doubles to grain storage facilities and to transportation hubs like the Geelong port.
- $750,000 for the Meridian South Road Widening project to widen and seal a further 6 kilometre section of road, improving the quality of produce transported from the region to the arterial network, as well as bypassing the townships of Mildura, Irymple and Red Cliffs.
- $700,000 for the Antwerp-Woorak Road and Rainbow-Nhill projects, improving access to markets for heavy vehicles in the Hindmarsh Shire and the broader region.
- $548,000 for the Annuello-Wemen Road and O’Connor Lane projects to improve roads for almond and produce farms in Swan Hill Shire.
- $687,000 in the Northern Grampians Shire for three projects to upgrade bridges and an intersection as well as bridges in the Logan area to support local piggeries and farms.
- $128,500 to complete the final stage of the Wonwondah-Dadswells Bridge Road upgrade in Horsham Shire and $90,000 to support Gannawarra Shire to improve access to the Quambatook grain receival centre.
- The Wimmera Mallee upgrades are part of 39 projects worth $24 million under Round Two of the program. Round One funded 29 projects worth $22.2 million across regional and rural Victoria in 2017.
Minister for Agriculture Jaala Pulford said, “The Local Roads to Market program is supporting farming communities throughout the Wimmera Mallee, ensuring their top-quality grain, livestock and vegetable produce makes it to market as quickly and safely as possible. These important road and bridge upgrades will improve the competitiveness of agribusinesses across the Wimmera Mallee and improve the safety of country roads for all users.”
National product and brand manager for ifm, Glenn Thornton, explains what differentiates ifm from other high-tech electronics businesses. Besides offering quality well-priced products and quick turnaround of service, Glenn says what really drives the company and his colleagues are the relationships they develop with customers. Originally an electrician by trade, Glenn appreciates that while getting the job done right is of utmost importance, what he really enjoys at ifm is the ongoing relationship with customers and seeing the outcomes that they achieve.
Researchers from the Future Industries Institute (FII) at the University of South Australia are collaborating with a group of scientists at ANSTO to investigate a new class of micro and nano-scale zinc fertilisers for broadacre crops, such as wheat.
Zinc is an essential micronutrient required for the growth of wheat with crucial roles throughout the plant. Australian agricultural soils are known to be deficient in zinc and other micronutrients.
Dr Casey Doolette and PhD candidate Thea Lund Read from Prof Enzo Lombi’s lab are assessing if nano and micro zinc particles applied to leaves (known as foliar fertilisers) provide a more sustained supply of zinc to crops than dissolved forms of the metal.
They are also evaluating two commonly used agricultural formulations, soluble zinc and chelated zinc (Zn-EDTA).
In order to make this evaluation, they needed to use a combination of tools to understand zinc transport and bioaccumulation.
One technique, based on the use of radiotracers to track the distribution of elements, was of particular interest and available at ANSTO.
ANSTO Environmental Research scientist Dr Tom Cresswell has expertise in the use of radioactive isotopes as tracers in marine organisms to study the bioaccumulation of specific elements.
“It is slightly different working with plants but the concept is essentially the same. By using zinc-65 as a radiotracer, it is possible to detect exactly where the zinc goes after it has been absorbed by the plant,” said Cresswell.
ANSTO Biologist Nicholas Howell has captured a series of autoradiographic images of the plants that show the change in distribution of radioactive zinc, in live leaves, over time.
“Conventional analysis and imaging of zinc is limited because the naturally-occurring zinc in the leaves makes it difficult to identify newly-accumulated zinc,” Said Doolette.
The purpose of the study is to determine what form of zinc is the most efficient for supplying the nutrient to broadacre crops following its application to the leaves.
Doolette explained that although zinc can also be delivered directly to the soil, there are some limitations due to soil conditions that affect its ability to address zinc deficiency in plants. “When you deliver zinc to Australian agricultural soils, the zinc tends to get locked up, particularly in alkaline soils, and is not readily available to the plants,” said Doolette.
This occurs because zinc is largely immobile in soil and only moves short distances from the point of placement.
Leaf applications of zinc are used by crop farmers to supplement soil applications.
Doolette explained that applying zinc in a soluble formulation has a tendency to damage the leaves.
“However, if the zinc can be released slowly into the leaf, such as the case when it is applied in nano form, there is likely to be less leaf scorch” said Doolette.
The investigators are not focused on how the zinc, in the form of soluble zinc, is taken up but rather how much zinc is bioaccumulated.
They are measuring zinc concentrations, as well as identifying where the zinc is transported in the plant, whether it be the new shoots, stems or grains.
“Ideally we would hope to have the applied zinc accumulate in the grains of the plant, where it has the most nutritional benefit as food, which is known as biofortification,” said Doolette.
“We hope to find out if using zinc nanoparticles is a viable way of administering it as a nutrient.”
Doolette and Read transported 140 wheat plants by air to ANSTO, where they were housed in a greenhouse on-site fully licenced for conducting radiotracing studies.
Plants were harvested, or imaged, after one day, 14 days and at maturity (i.e. the production of grains) to evaluate the translocation and biodistribution of zinc.
The imaging technique developed by the team has allowed for single plants to be measured at multiple time points without the need to harvest, producing a true, and unique, longitudinal data set.
The concentration of zinc is quantified using gamma spectroscopy.
The zinc particles for the experiments were made industry partner Sonic Essentials and were made radioactive using the OPAL research reactor.
“By determining the most efficient form of zinc for direct foliar application, crop management strategies can be optimised to increase crop yield and quality,” said Doolette.
Zinc is used by the plant for protein metabolism, synthesis of hormones and in the production of essential enzymes.
“We would also be interested in knowing how much zinc is not taken up by the plant, as this zinc would be released into the environment with rainfall,” said Cresswell.
“From the perspective of an ecotoxicologist, it is important to know if the zinc is affecting freshwater runoff.”
The Ridley Corporation has appointed Investec to explore options to accelerate the growth of Novacq, an ingredient which they have reported to have shown significant uplift in prawn biomass when added to prawn feed at an inclusion rate of five per cent. The increase in biomass is derived from a combo of higher survival rates, accelerated prawn growth and improved conversion of feed consumed into flesh, and general well-being of the prawn.
Significant progress has been made on the Novacq applied R&D project at ridley’s current production sites, namely Yamba in NSW and Chanthaburi, Thailand. According to Ridley, a number of their customers have used the product in their prawn’s diets on a profit share arrangement for the recently concluded Australian growing season.
In Thailand, Ridley expects to include the locally produced NOvacq in the Chanthaburi feedmill diets for commercial-scale farm use in the second half of 2018. The company is committed to scaling up production vlumes in its Thailand facility both in the feedmill joint venture and in the production of Novacq at the 14 ponds it has under long term lease and in which it is currently growing the product for inclusion in local feed production.
Deputy Premier and Minister for Regional NSW and Small Business John Barilaro, and Minister for Transport and Infrastructure and Member for Bega Andrew Constance today announced an equity investment of $3.3 million in Australia’s Oyster Coast (AOC) – a group of Australia’s leading oyster growers based on the NSW South Coast.
The NSW Government’s $3.3 million investment will combine with a $6.7 million co-investment from First State Super, as part of the government’s new GO NSW Equity Fund, established with partners First State Super and ROC Partners last year.
Barilaro said the deal – which will see the government take an ownership stake in AOC – is the second investment under the fund.
“NSW has the biggest and best oyster industry in Australia, and we’re backing AOC to build its brand and business operations at home and overseas,” Barilaro said.
“Importantly this investment will allow AOC to more than double its workforce to 75, creating 40 new full time equivalent jobs.
“What’s so pleasing for me, as the Minister for Regional NSW, is that our first two investments through this new fund have been in agricultural businesses, based in regional NSW.
“This isn’t a helping hand for these oyster growers, it’s a smart business decision – an investment that’s backed by industry experts.
“Any returns we reap for our investment will be re-invested by the fund in other high-potential companies across NSW.
“It shows that if you are in NSW, have a great product and receive a bit of smart backing from the NSW Government then the world really is your oyster,” he said.
First State Super Chief Investment Officer Damian Graham said the deal was another great outcome from the partnership with the NSW Government.
“The investment in Australia’s Oyster Coast reflects our approach to investing in the communities where our members live, work and retire. It will not only deliver returns to our members but will provide capital to help expand an important regional industry on the south coast,” Mr Graham said.
“AOC will use the capital to acquire new leases, invest in new technologies like floating mesh bags to improve productivity and the growth rate of oysters, improve infrastructure, secure a North Coast processing facility and invest in new marketing campaigns,” he said.
Managing Director of ROC Partners Michael Lukin said the firm, as part of its role to identify the best investment opportunities for the fund, was finding many attractive options in regional NSW.
“We are excited by the opportunities in regional NSW we are uncovering as part of our role in the GO NSW Equity Fund,” Lukin said.
Mark Allsopp, AOC CEO said Australia’s Oyster Coast is unique as it produces three varieties of premium oysters, including the Sydney Rock Oyster, the rare Angasi ‘flat oyster’ and the popular Pacific Oyster.
“These oysters are grown under rigorous environmental management systems in some of the world’s cleanest waters by passionate growers with generations of experience – we’re delighted that this investment will support more growth,” he said.
Member for Bega Andrew Constance said he was pleased the investment will deliver more jobs to Australia’s Oyster Coast.
“AOC has done a fantastic job for the region since it was formed in 2013 by eight local growers. They’ve built a recognised brand for their product and I look forward to seeing the results of this significant backing,” Constance said.
Australian fruit and vegetable exporters wanting to go global can now access advice on every step of the export journey in a single online guide.
Minister for Trade, Tourism and Investment, Steven Ciobo, and the Minister for Agriculture and Water Resources, David Littleproud,today launched, ‘Fresh fruit and vegetable export requirements: A guide for Australian business’ a Turnbull Coalition Government initiative ensuring Australia’s horticulture producers have the necessary information to capitalise on the sizeable business opportunities on our doorstep.
Ciobo said Australia’s premium-quality produce was highly prized by overseas buyers.
“The Turnbull Coalition Government is pursuing the most ambitious trade agenda in our country’s history, opening new doors for more Australian exporters to sell their top quality, clean, green and safe produce to more markets worldwide,” the Minister said.
“Australia’s agricultural products are a sought-after commodity, and this guide will help producers benefit from Australia’s strong reputation, providing current information on market regulations and expectations and links to the correct export documents and templates,” he added.
Ciobo said Australia’s proximity to Asia gave local producers the advantage of shorter transport times, allowing them to deliver fresher, more attractive fruit, often in counter-seasonal months or times of short overseas supply.
“We’re working on the principle that forewarned is forearmed. We want to ensure businesses – particularly new exporters – are aware of and comply with, key requirements and regulations, so they have a safe and smooth experience and continue to generate export dollars for Australia.”
The farm gate-to-overseas market guide is the first time both Government and industry advice about the export journey for producers has been collated in a single place, making it easier for potential exporters to expand their businesses, creating jobs and boost Australia’s economy.
Minister for Agriculture and Water Resources, David Littleproud said Australia’s premium produce was in demand the world over.
“We’ve produced a simple guide to help exporters send Aussie farm produce around the globe,” Littleproud said.
“We’re making exporting Aussie produce as easy as possible,” he said.
“We’re doing this so more of our exporters will send more Aussie food all over the world, giving our farmers more selling options and our rural towns more jobs.”
The value of Australian fresh horticulture exports has nearly tripled over the past five years, growing from $846.5 million in 2012 to $2.11 billion in 2017, according to the IHS Global Trade Atlas (2018). Fresh fruit exports are generating more than half this value, with citrus ($423.1 million) and table grapes ($373.3 million) the standouts.
China has emerged as Australia’s most significant horticultural export market, accounting for nearly one in five dollars of value generated from horticulture exports (19 per cent), and has maintained an average annual growth rate of over 200 per cent over the last 5 years.
Riding the success of their rapid growth for the year, Stibo Systems Australia was proud to host its first MDM Conference in the Australian region last week. The conference was held on May 16th, at the historic Customs House in the centre of Sydney. The conference included industry business leaders, consultant specialists and data experts in attendance. Kicking off with keynote speaker Adam Ferrier, founder of Thinkerbell and a respected thought leader in the Science of Behavioural Economics and Creativity.
The event boasted a line-up of notable speakers including Anita Dorwald – COO of City Beach, Melissa Hayes – GM of marketing of Blackwoods/Wesfarmers Industrial and Safety, industry representatives from GS1 Australia among others.
The MDM Conference provided a forum for data management experts across all industries to be at the nexus of ideas and policies that will fundamentally change data management around the world. Attendees explored critical topics such as industry data challenges, change enablement and readiness, customer centric design and protecting customer privacy.
“The conference brought together some of the industry’s top thought leaders to evolve and challenge the current thinking on master data management”, said the managing director of Stibo Systems Australia. “We are thrilled with the participation and engagement from this year’s event and look forward to pushing the boundaries with the Australian market in the next 12 months”
Capping the event was the Stibo Systems head of professional services to discuss the latest trends in protecting customer privacy. This is pertinent in light of the new wave of legislation including the 2018 amendment to the Australian Privacy Act (Notifiable Data Breaches), as well as the looming introduction of GDPR (General Data Protection Regulation) which becomes enforceable from today. The enduring question posed to the audience resonated well beyond the wrap of the conference; “Are you Ready?”
A family owned and operated orchard in the Goulburn Valley will get funding from the Victorian state government.
Minister for Agriculture Jaala Pulford announced that Vigliaturo Orchards will receive a grant from the government that will see the company expand, upgrade and employ more people.
Pulford said, “We’ve worked closely with this business to facilitate investment, which will create new jobs right in the Goulburn Valley.”
Vigliaturo Orchards is a family-owned business in Ardmona that grows, packs and markets apples, pears and stone fruits and has received support from the Labor Government under the Regional Jobs Fund.
The $1.8 million expansion of its fruit packing and export facility has created 12 new full time equivalent jobs.
The project has doubled the size of the packing facility, developed additional cold storage and controlled atmosphere capacity, and enabled the purchase and installation of digital grading and packing technology.
The expansion and new technology will increase the company’s daily fruit handling and packing capability from 100 bins to 180 bins.
The Labor Government is supporting projects through its investment funds dedicated to regional Victoria, which focusses on building critical infrastructure, creating jobs, investing in communities and supporting new and emerging industries.
Rabobank has said in a press release that dairy alternatives are on a rise as consumers are increasingly going dairy-free, particularly when it comes to fluid “milk” used on things like cereal or in coffees. More recently, biotechnology has entered the arena, brewing milk proteins through biofermentation.
The time is right for the dairy sector to reflect on the success of alternative dairy products and to consider applying those lessons to dairy, according to the latest Rabo Research global dairy report: Dare Not to Dairy – What the Rise of Dairy- Free Means for Dairy… and How the Industry Can Respond.
Rabobank said that their report pointed out that dairy alternatives have competed in the dairy space for decades, but competition has intensified as dairy alternatives broaden in types, styles, and categories of product. It also said global retail sales growth for dairy alternatives has soared at a rate of 8 per cent annually over the last ten years. With retail sales valued at $15.6b, dairy-free “milk” represented 12 per cent of total fluid milk and alternative sales globally in 2017, according to Euromonitor.
Nutrition, price, and flavour tend to favour dairy, but changing consumer perceptions around health, lifestyle choices, curiosity, and perceived sustainability are increasingly drawing more people to select dairy-free products.
“Global demand for dairy is expected to grow by 2.5 percent for years to come, with demand for non-fluid categories offsetting weak fluid milk sales,” says Tom Bailey, RaboResearch senior analyst – Dairy. “While it’s not essential to diversify into dairy alternatives, it would be wise for the dairy industry to at least learn one thing from the success of dairy alternatives, which may be putting the consumer first and trading in the old grass-to-glass model for glass- to-grass.”
The challenge for dairy lies mostly in fluid milk, where retail sales in western Europe (US$ 18.6bn) and the US (US$12.5bn) declined at an annual rate of 5 and 3 percent, respectively, in the five years to 2017, according to Euromonitor.
The results over the last five years have favoured dairy players who have invested in milk alternatives across the supply chain – from planting almond trees to buying brands. The investments in dairy alternatives have shown returns above standalone dairy.