Welcome to the Dairy Top 100, Dairy Foods’ industry-leading list of the Top 100 dairy companies/dairy processors in the United States. This is the 31st annual Dairy Top 100 list, and we want to thank and honor all of the companies on this list for producing some widely purchased dairy products with intriguing, oftentimes, sustainable packaging that consumers are consistently purchasing.

As reported in many market trend stories, ingredient technology features, and outlook reports,  revenue is up, albeit sometimes as little as 2% or as much as 10%, for several dairy companies and brands. Cheesemakers and processors who make cultured dairy products like Greek yogurt, flavored yogurt, and probiotic- and protein-rich functional dairy products are seeing increased basket rings. However, while milk production is up, dairy milk consumption is down 4%, while the consumption of non-dairy milks rose by 5%.

Inflation also is impacting dairy sales, with some dairy companies seeing declining revenue of   2-4%. While not reflected in this report, even when dairy sales are increasing, unit sales are declining, which also is contributing to some shifts in the ranking.

Beyond the Dairy Top 100 list, Dairy Foods will continue to track dairy trends, the competition between “real” dairy and plant- and much more. In short, there’s always something to learn in the multifaceted, $4.5 trillion food and beverage industry.

Also extremely exciting, this November, we’re happy to report that Dairy Foods will be celebrating its 125th milestone anniversary. Stay tuned!

And now, back to the findings of the Dairy Top 100 list. First off, see the sidebar to find out how editors went about updating 2023 revenue numbers, and check out the companies in our Top 10 listing who continue to make waves through innovation, acquisitions, and new product releases. 

Kudos to the Top 4 companies — Dairy Farmers of America Inc., Land O’Lakes Inc., Saputo Inc., and Nestlé North America — for landing in the exact same spots for two consecutive years. However, there was some shifts within the Top 10 listing. These include Savencia Fromage & Dairy, U.S. Operations, which had an estimated $6.08 billion in sales (No. 8 on the list last year) to $7.22 billion, No. 6 this year; and Schreiber Foods Inc., which had an estimated $5.1 billion last year, jumping four spots from No. 10 to No. 6, with a reported $7 billion in 2023 revenue. Rich’s Food Products, with $5.8 billion in dairy sales, clocked in at No. 10 and made the list for the first time.

Among the Top 50 dairy companies, the Massachusetts-based HP Hood jumped three spots with revenues of $3.4 billion, while New York-based Chobani skyrocketed 16 spots to No. 25, with revenues surpassing an estimated $2 billion. Fitchburg, Wis.-based Emmi Group leapt two spots from No. 29 to No. 27, following revenues reaching nearly $1.9 billion in 2023.

Among the Dairy Top 100 list, the largest year-over-year advancement belongs to California Dairies Inc., which skyrocketed 60 slots from No. 76 to No. 16 following a banner year when the Visalia, Calif.-based cooperative reported $4.3 billion in revenue for the fiscal year ending Dec. 31, 2023.

Within the 50-100 Dairy Top 100 listing, several companies saw minor growth trajectory or decline. For example, Continental Dairy Facilities, No. 70 last year with $353 million in sales, reported $451 million, good enough to move the Coopersville, Mich.-based dairy up seven spaces to No. 63 on the list.

Yet, its sister company, No. 64’s Continental Dairy Facilities Southwest LLC, Littlefield, Texas, which also is under parent company Dallas, Texas-based Select Milk Producers, reported $396 million in revenue in 2022, and suffered a slight decline in sales, at $379 million in 2023.

While Sovos Brands Inc., whose products in the Noosa brand portfolio including yogurt, frozen yogurt gelato and cheesecake bites, notched a 2023 net revenue of nearly $253 million, this will be its last year on the list as the company was acquired by Campbell Soup Co. for $2.7 billion on March 12, 2024.

View the 2024 Dairy 100