OBPAI Geek Team•2026/8/12•0 阅读
Global Dairy Companies of 2026
Rabobank 2025 Top 20: Lactalis $31.9B, Nestlé $23.9B, DFA $23.0B; Yili #5, Mengniu #10.
dairyLactalisNestléYili2026
Main table: Rabobank Global Dairy Top 20 (2025)
Compiled 2026-08-12. Ranked by estimated 2024 dairy turnover from RaboResearch Global Dairy Top 20 (2025 edition), USD billions; M&A counted through 30 Jun 2025. Beverage conglomerates: global drinks.
| # | Company | HQ | 2024 dairy turnover ($bn) | Prior rank |
|---|---|---|---|---|
| 1 | Lactalis | France | 31.9 | 1 |
| 2 | Nestlé | Switzerland | 23.9 | 2 |
| 3 | Dairy Farmers of America | USA | 23.0 | 3 |
| 4 | Danone | France | 20.7 | 4 |
| 5 | Yili | China | 15.8 | 5 |
| 6 | Arla Foods | Denmark | 15.0 | 7 |
| 7 | Fonterra | New Zealand | 14.7 | 6 |
| 8 | FrieslandCampina | Netherlands | 14.0 | 8 |
| 9 | Saputo | Canada | 13.9 | 10 |
| 10 | Mengniu | China | 12.3 | 9 |
| 11 | Unilever | UK | 9.0 | 11 |
| 12 | Savencia | France | 7.7 | 13 |
| 13 | Schreiber Foods | USA | 7.5 | 12 |
| 14 | GCMMF (Amul) | India | 7.3 | 14 |
| 15 | Müller | Luxembourg | 6.9 | 15 |
| 16 | Sodiaal | France | 6.6 | 16 |
| 17 | Agropur | Canada | 6.4 | 17 |
| 18 | Froneri | UK | 6.0 | 19 |
| 19 | DMK | Germany | 5.5 | 18 |
| 20 | Grupo Lala | Mexico | 5.5 | 20 |
Lactalis leads for a fourth year at an estimated $31.9B. Top 20 combined turnover rose about 0.6% in 2024; RaboResearch expects roughly +0.5% in 2025 on the current list.
Movers and 2026 M&A
| Company / deal | Note |
|---|---|
| Saputo | ~+8.4% YoY dairy turnover — fastest in Top 20; to #9 |
| Arla ↔ Fonterra | Swapped #6/#7; Fonterra consumer sale to Lactalis may push it lower |
| FrieslandCampina–Milcobel | Merger could lift FrieslandCampina toward top six |
| Unilever ice cream / DMK | Possible exits; Emmi (~$5.4B) named as a Top 20 candidate |
How we ranked
Primary sort is Rabobank 2025 Global Dairy Top 20 (2024 dairy turnover). China group ARs and M&A notes are secondary rulers. Board defaults to S–D.
| Source | When | Used for |
|---|---|---|
| RaboResearch Global Dairy Top 20 | 2025 (FY2024 dairy) | Top 20 ranking |
| DairyReporter | 2025-09 | Full rank table |
| Rabobank NZ release | 2025-08 | Lactalis $31.9B; Saputo +8.4% |
| Yili 2025 AR (CN) | 2026-04 | Group CNY revenue slice |
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