Page 16 - PARMALAT 2017 ANNUAL REPORT

Report on Operations

The Global Dairy Market

The dairy market, which at the global level, was valued at about 427 billion euros in 2017, corresponding to 241
million tons of dairy products, showed a positive trend during the 2012-2017 reference period, both on a volume basis
(+1.2%) and on a value basis (+1.6%).

1
More specifically consumption increased in 2017 compared with the previous year, growing by 1.1% .

Milk (white plus flavored) is the biggest category overall on a value basis (28%), followed by Cheese (27%) and Yogurt
and Fermented Milk (19%).

As shown in the chart below, Milk is the biggest category in volume terms as well (54%), followed by Yogurt and
Fermented Milk (16%) and Cheese (7%).
The fastest growing categories included Yogurt (+4.4%) and Cheese (+1.5%), which showed a significant growth rate
during the five year reference period, while Flavored Milk reversed the growth trend recorded in recent years (-0.8%).

2012-2017 CAGR %
100%

15% 1.1%
90% 0.0%
1%
1% 1.4%
80% 6%
-0.8%
7% 1.5%
70%
16%
60% 4.0%
Volume % 50%

40%

30% 54% 0.8%

20%

10%

0%
Liquid white milk Yogurt and Fermented Milk
Cheese Flavored Milk
Butter Powdered Milk (excluding
infant products)
Other products

Data source: Euromonitor-year 2017
Market Size - Total Volume %

1
Source: Euromonitor – 2012-2017 CAGR

14 Report on Operations – The Global Dairy Market