In Rabobank's newest report ranking the 20 largest companies in the global dairy industry, two Chinese players (Yili and Mengniu) moved up on the list, while Kraft Foods and other U.S.-based firms slipped down.

In the report, published by Rabobank’s Food & Agribusiness Research and Advisory team, the bank says that while the top five dairy players continue to drive consolidation and maintain a firm hold on their positions, elsewhere in the sector there is much movement.