2024 March Board Book

Dairy Performance Report

According to Circana reports, total dairy sales in 2023 showed a positive performance, surpassing the total sales from the previous year. The total dollar sales in 2023 increased by $4.3 billion, representing a 4.9% growth compared to the previous year. This increase in sales was primarily driven by average retail pricing, which contributed to the year-over-year growth in total dollars. Although unit sales remained stable, experiencing a slight decrease of -0.37% compared to the previous year, the average retail cost per unit saw a significant increase of 6% in 2023. Among the different dairy categories, the Weight Control category exhibited the highest dollar sales growth, with an increase of $851 million, representing a 15% growth compared to the previous year. This was followed by Yogurt, which saw an increase of $785 million, and Natural Cheese, which experienced a growth of $683 million. Innovation played a crucial role in driving double-digit percentage growth in categories such as Cottage Cheese and Whipped Toppings. Cottage Cheese sales saw a substantial increase of 17% in 2023 compared to the prior year. Similarly, Whipped Toppings experienced a sales growth of 14% in 2023, attributed to the introduction of new flavor offerings at Sam's Club (Birthday Cake) and Target (Winter Collection: Maple Vanilla, Peppermint & Gingerbread). YTD 2024 (Weeks ending 02-04-24) Natural Cheese-Chunks and Cottage Cheese sales trends are both experiencing impressive growth in total sales. Natural Cheese-Chunks generated $459 million in sales, reflecting a significant increase of $19.4 million (4.4%) compared to the previous year. Similarly, Cottage Cheese generated $151 million, reflecting a substantial increase of $19.2 million (14.5%) year over year.