KARACHI: New research from Tetra Pak, the world’s leading food processing and packaging company, has identified 2.7 billion low-income consumers in developing countries as the global dairy industry’s next big growth opportunity due to an expected rise in prosperity, purchasing power and desire for packaged liquid dairy products (LDP).
Consumption by low-income consumers in developing markets is forecast to increase from about 70 billion litres in 2011 to almost 80 billion litres in 2014, according to the Dairy Index, which tracks worldwide facts, figures and trends in the global dairy industry. Many of these consumers are expected to switch in coming years from drinking loose milk to packaged milk.
“Low-income consumers represent one of the biggest growth opportunities for the dairy industry. The key to tomorrow’s success is reaching these consumers today,” said Tetra Pak President and CEO Dennis Jönsson. “They make up almost 40 percent of the world’s population and live in economies driving our industry’s growth and they are growing more affluent.” These low-income consumers live on Rs 180 – 750 a day and are virtually untapped by today’s dairy processors. Called Deeper in the Pyramid (DiP) consumers by Tetra Pak, they make up about 50 percent of developing countries’ population and consume 38 percent of LDP in developing countries. – Dailytimes