A survey of representatives of the dairy products industry in the United States found that in 2022 the sector spent 3.36 million U.S. dollars on advertising. In the previous year the ad expenditures in the industry amounted to 3.29 million dollars.
The dairy products industry in the United States
The dairy products industry in the United States has witnessed remarkable growth in the past two decades, as the consumption of various dairy products has increased steadily. According to the data from the United States Department of Agriculture (USDA), the per capita consumption of dairy products in the U.S. reached 661 pounds in 2021. During that year, census data indicated that fresh milk and cream accounted for close to one-third of household expenditures on dairy products in the country. Therefore, with a growing consumption and demonstrable consumer demand for milk, the industry has clear indicators of where to invest their advertising dollars.
Highest-valued dairy company in the world
Brand value is a term that marketers use to describe the worth of a brand. In 2022, the highest-valued dairy processor worldwide was Yili Group with a brand value of nearly 10.6 billion U.S. dollars. Paris-based Danone ranked second.
Advertising spending in the dairy products industry in the United States from 2021 to 2022
(in million U.S. dollars)
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Advertising spending in million U.S. dollars
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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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Schonfeld & Associates. (June 30, 2023). Advertising spending in the dairy products industry in the United States from 2021 to 2022 (in million U.S. dollars) [Graph]. In Statista. Retrieved July 04, 2024, from https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/
Schonfeld & Associates. "Advertising spending in the dairy products industry in the United States from 2021 to 2022 (in million U.S. dollars)." Chart. June 30, 2023. Statista. Accessed July 04, 2024. https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/
Schonfeld & Associates. (2023). Advertising spending in the dairy products industry in the United States from 2021 to 2022 (in million U.S. dollars). Statista. Statista Inc.. Accessed: July 04, 2024. https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/
Schonfeld & Associates. "Advertising Spending in The Dairy Products Industry in The United States from 2021 to 2022 (in Million U.S. Dollars)." Statista, Statista Inc., 30 Jun 2023, https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/
Schonfeld & Associates, Advertising spending in the dairy products industry in the United States from 2021 to 2022 (in million U.S. dollars) Statista, https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/ (last visited July 04, 2024)
Advertising spending in the dairy products industry in the United States from 2021 to 2022 (in million U.S. dollars) [Graph], Schonfeld & Associates, June 30, 2023. [Online]. Available: https://www.statista.com/statistics/470429/dairy-products-industry-ad-spend-usa/