Groundbreaking research, conducted by McKinsey & Company in collaboration with IDFA, provides a new perspective on the steps dairy leaders can take to capture future growth in domestic and international markets. The research provides an in-depth look at the dairy industry’s evolution around the world, the differences among markets, and evolving consumer tastes.
Appearing in a Dairy Forum capstone session in January, the consultants outlined the insights gleaned from in-depth interviews with more than 50 CEOs of international dairy companies and a survey of more than 1,000 American households. IDFA is now providing dairy companies with the opportunity to hear from McKinsey & Company through a webinar that will detail the study's findings and includes several data-driven recommendations for the dairy industry to consider. The association will host the webinar on Monday, April 8 from 1:00 p.m. – 2:00 p.m. ET.
The webinar is being offered free of charge to IDFA members. Register online.
Sneak Peak
A rapidly changing consumer and global environment requires a bold new outlook, and a growth model that can deliver on this challenge.
The McKinsey & Company analysis suggests that a combination of four strategies offer a path to growth:
- Domestic growth driven by innovation and supported by a deep consumer preference analytics capability.
- Serve new demand niches by revamping your supply chain and make it more agile and flexible.
- Serve demand growth in areas with projected deficits.
- When exporting is not a possibility or if the goal is to maximize long-term value capture or market exposure, investing directly in deficit markets to serve those markets locally is the route to go.
For more information about the study, please contact Heather Soubra, IDFA chief of staff, at hsoubra@idfa.org.