U.S. dairy products industry ad spend 2023

In 2023, the dairy products industry in the United States spent 3.73 million U.S. dollars on advertising, up from 3.35 million dollars a year earlier. That represents an annual increase of over 11 percent.

Conditions of fluid milk products in the U.S.

In 2023, the estimated total fluid milk product sales volume in the U.S. amounted to approximately 40 million pounds. Whole milk sales accounted for over a third of that volume, at around 15 million pounds. However, according to the latest projections, per capita consumption of fluid milk in the U.S. will continue to decrease steadily and fall to some 118.9 pounds per capita in 2033, from 143.1 pounds per person in 2024.

The most valuable dairy company in the world

Marketing professionals use the term brand value to describe a brand's worth. In 2023, the highest-valued dairy processor worldwide was a partly state-owned Chinese company headquartered in Hohhot, the Yili Group, with a brand value of over 12.4 billion dollars. Paris-based Danone ranked second with a brand value of nearly nine billion dollars.

Advertising spending in the dairy products industry in the United States in 2022 and 2023 (in million U.S. dollars)

Characteristic	Advertising spending in million U.S. dollars
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Release date

July 2024

More information

Region

United States

Survey time period

2022 and 2023

Special properties

Industry SIC code: 2020

Supplementary notes

The source calculated the figures based on data from government filings and published financial records. Single industry values are based on data from participating companies. Each year the number of participating companies varies.
The historical data values for all companies within each specific industry are pooled in a cross-sectional time series analysis and a non-linear multivariate model is derived for the entire industry.
In calculating advertising-to-sales ratios, sales is defined as "top-line" of the company's income statement. In industry data, the ad-to-sales ratio is a weighted average ratio for the industry, based on the sales of each company.
A "0" value means that the expenditures reported amounted to less than 1,000 U.S. dollars per year. Missing values were not provided by the source due to lack of reporting from participating companies in the given industry.

Figures have been rounded.

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