It placed third in the 2021 Dairy 100. It placed second in the 2022 Dairy 100. This year it is No. 1. Other companies saw major growth. Moving 33 spaces,  Valley Queen Cheese Factory Inc., Milbank., S.D., No. 87 in 2021 net revenue, moved to No. 54 with a 2022 net revenue of $600 million.

To manage their food spending, U.S. consumers are finding ways to manage higher food costs by shopping at value retailers, spending less on non-food purchases, switching to store brands, and canceling committed expenses, like subscriptions, reports Circana.

Refrigerated ready-to-drink (RTD) coffee and tea were red hot, with percolating sales of nearly $949 million and $1.44 billion, respectively, in multi-outlets for the 52 weeks ending July 10, IRI data states. Percentage-wise, coffee saw a 27% sales increase, while tea added year-over-year sales of 11%.

If recession is looming/already here, how will headwinds impact the dairy industry? 

Unlike previous years, this year’s Dairy 100 rankings reflects changes in the market — with some new companies joining the list and others experiencing major growth or declines. 

Sales within the retail ice cream and frozen novelties segments have been traveling in two different directions of late.

If sales data are any indication, more consumers are saying goodbye to coffee filters, tea bags and the long wait to brew. According to data from Chicago-based market research firm IRI, dollar sales within the shelf-stable ready-to-drink (RTD) tea and coffee category shot up 9.5% during the 52 weeks ending Aug. 8, 2021, to $7,647.5 million. Unit sales increased 3.0% to 3,044.1 million.  

Over the past six months, most discussions around global dairy trade have centered on incredibly strong Chinese imports and freight costs and delays.