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Argentina Milk and Dairy Products Market Outlook to 2015

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Argentina Milk and Dairy Products Market Outlook to 2015 TABLE OF CONTENTS 1. Argentina 1.1. Argentina Milk Market Introduction 1.1.1. Argentina Cow Milk Market Production and Fluid Milk Consumption by Volume, 2007-2015 1.1.2. Argentina Milk Cow Numbers and Milk Production per Cow, 2007-2015 1.2. Argentina Dairy Products Market Introduction 1.2.1. Argentina Dairy Products Market Production by Volume, 2007-2015 1.2.2. Argentina Dairy Product Market Production by Volume, 2007-2015 1.2.2.1. Butter 1.2.2.2. Cheese 1.2.2.3. Skim Milk Powder 1.2.2.4. Whole Milk Powder 1.2.2.5. Milk Drinks & Fermented Products 1.2.2.6. Cream 1.2.2.7. Whey Powder 1.2.3. Argentina Dairy Product Market Consumption by Volume, 2007-2015 1.2.3.1. Butter 1.2.3.2. Cheese 1.2.3.3. Skim Milk Powder 1.2.3.4. Whole Milk Powder 1.2.4. Argentina Dairy Product Market Net Trade by Volume, 2007-2015 1.2.4.1. Butter 1.2.4.2. Cheese 1.2.4.3. Skim Milk Powder 1.2.4.4. Whole Milk Powder 1.3. Trends and Developments in Argentina Milk and Dairy Products Market 1.4. Competitive Landscape 1.5. Argentina Milk and Dairy Products Market Future Outlook 2 1.6. Argentina Macro Economic Indicators: Current and Projections 1.6.1. Population, 2007-2015 1.6.2. GDP, 2007-2015 1.6.3. Inflation, 2007-2015 1.6.4. Unemployment Rate as a % of Labour Force, 2007-2015 1.6.5. Demographic Distribution of Population on the basis of Age, 2009-2010 1.6.6. Personal Disposable Income and Number of Households in Argentina, 2009- 2010 1.6.7. Distribution of Income among Households, 2009-2010 2. Appendix 2.1. Market Definition 2.2. Abbreviations 2.3. Research Methodology Data Collection Methods Approach 2.4. Disclaimer 3 LIST OF FIGURES Figure 1: Argentina Cow Milk Production and Fluid Milk Consumption along with Manufacturing Use and Exports by Volume in Thousand Tonnes, 2007-2015 Figure 2: Argentina Milk Cow Numbers in Thousand Head and Milk Production per Cow in Kilograms, 2007-2015 Figure 3: Argentina Total Dairy Products Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 4: Argentina Butter Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 5: Argentina Cheese Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 6: Argentina Skim Milk Powder Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 7: Argentina Whole Milk Powder Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 8: Argentina Milk Drinks & Fermented Products Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 9: Argentina Cream Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 10: Argentina Whey Powder Market Production by Volume in Thousand Tonnes, 2007-2015 Figure 11: Argentina Butter Market Consumption by Volume in Thousand Tonnes, 2007- 2015 Figure 12: Argentina Cheese Market Consumption by Volume in Thousand Tonnes, 2007- 2015 Figure 13: Argentina Skim Milk Powder Market Consumption by Volume in Thousand Tonnes, 2007-2015 Figure 14: Argentina Whole Milk Powder Market Consumption by Volume in Thousand Tonnes, 2007-2015 Figure 15: Argentina Butter Market Net Trade by Volume in Thousand Tonnes, 2007-2015 Figure 16: Argentina Cheese Market Net Trade by Volume in Thousand Tonnes, 2007-2015 Figure 17: Argentina Skim Milk Powder Market Net Trade by Volume in Thousand Tonnes, 2007-2015 4 Figure 18: Argentina Whole Milk Powder Market Net Trade by Volume in Thousand Tonnes, 2007-2015 Figure 19: Argentina Population Trend in Million, 2007-2015 Figure 20: Argentina Gross Domestic Product in USD Billion, 2007-2015 Figure 21: Argentina Inflation, Average Consumer Prices in Percentage, 2007-2015 Figure 22: Argentina Unemployment Rate as a Percentage of Labour Force, 2007-2015 5 LIST OF TABLES Table 1: Argentina Cow Milk Production and Fluid Milk Consumption along with Manufacturing Use and Exports by Volume in Thousand Tonnes, 2007-2015 Table 2: Argentina Milk Cow Numbers in Thousand Head and Milk Production per Cow in Kilograms, 2007-2015 Table 3: Competitive Landscape of Major Dairy Products Companies (Mastellone Hermanos, Sancor) in the Argentina Table 4: Demographic Distribution of Population in Argentina on the basis of Age and Gender, in Million, 2009-2010 Table 5: Personal Disposable Income in USD Million and Number of Households in Thousands in Argentina, 2009-2010 Table 6: Income Distribution among Households in thousands in Argentina, 2009-2010 6 ARGENTINA ARGENTINA MILK MARKET INTRODUCTION ARGENTINA COW MILK MARKET PRODUCTION AND FLUID MILK CONSUMPTION BY VOLUME, 2007-2015 The cow milk production in the country showcased a CAGR of 3.7% during the historical period from 2007-2009. The market volume of cow milk production increased from 9,400 thousand tonnes in 2007 to 10,100 thousand tonnes in 2009. Figure: Argentina Cow Milk Production and Fluid Milk Consumption along with Manufacturing Use and Exports by Volume in Thousand Tonnes, 2007-2015 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Milk Market Size Market Size Milk ('000s Tonnes) 2007 2008 2009 2010 2011 2012 2013 2014 2015 Cow Milk Production Fluid Milk Consumption Manufacturing Use ARGENTINA MILK COW NUMBERS AND MILK PRODUCTION PER COW, 2007-2015 Argentina accounted for 2,100 thousand head cows in 2009 which spread over 12,000 dairy farms. The number of cows in a herd has increased and the number of farms has declined at 7 an average rate of nearly 4.5% year on year basis. Almost 98% of the total population of cows belongs to Holando Argnetino. Figure: Argentina Milk Cow Numbers in Thousand Head and Milk Production per Cow in Kilograms, 2007-2015 2,300 5,400 2,250 5,200 5,000 2,200 4,800 2,150 4,600 2,100 4,400 4,200 2,050 4,000 2,000 3,800 Milk Production perMilk Cow(Kg) Milk Cow Number ('000s NumberHead) ('000s Cow Milk 2011 2007 2008 2009 2010 2012 2013 2014 2015 Milk Cow Numbers ('000 Head) Milk Production per Cow (Kg) ARGENTINA DAIRY PRODUCTS MARKET INTRODUCTION Pampas is the milk producing hub in the country which includes regions such as Cordoba, Santa Fe and La Pampa. The average milk obtained from a cow is 45,000 kg and on a farm the total herd size is of nearly 200 cows which are increasing every year. ARGENTINA DAIRY PRODUCTS MARKET PRODUCTION BY VOLUME, 2007-2015 Argentina dairy production consists of various dairy products such as butter, cheese, skim powder, whole milk powder, milk drinks and fermented products, cream, condensed milk and whey powder. The demand for dairy products has registered an increase in the historical period. The market increased at a growth rate of 8.9% in 2008 as compared to in 2007. Even in 2009, the industry registered a growth rate of 4.1% and reached USD 1,534 thousand tonnes. The increase in demand for dairy products is likely to continue in the near future. The industry is expected to grow at a CAGR of 4.4% during 2009-2015. 8 Figure: Argentina Total Dairy Products Market Production by Volume in Thousand Tonnes, 2007-2015 2,500 2,000 1,500 1,000 ('000s Tonnes) Tonnes) ('000s 500 Dairy Product Market Size Dairy 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Total Dairy Products Market Production ARGENTINA DAIRY PRODUCT MARKET PRODUCTION BY VOLUME, 2007-2015 CHEESE Cheese is one of the most important dairy products constituting nearly 45% of the total milk production. Soft / Fresh types (Cremoso, Saint Paulin and Mozzarella) dominate the cheese categories constituting 45% of the total cheese market. Semi soft cheese (Gouda, Swiss type) hold 30% of the market share followed by hard cheese (Provolone and Sardo) accounting for 15% of the market. Other types of cheese account for the remaining 10%. Sancor is the biggest player in the cheese industry in Argentina. Other players include 7 co- operatives who supply nearly 40% of the total cheese. The remaining production is distributed among 800 small players who operate domestically. 9 Figure: Argentina Cheese Market Production by Volume in Thousand Tonnes, 2007- 2015 700 600 500 400 300 200 100 Production ('000s ('000s Production Tonnes) 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Cheese Production ARGENTINA DAIRY PRODUCT MARKET CONSUMPTION BY VOLUME, 2007-2015 WHOLE MILK POWDER Whole milk powder accounted for nearly 87.5% of the total consumption for milk powder in 2009. The period witnessed a decline in the consumption from 85 thousand tonnes in 2007 to 70 thousand tonnes in 2009. During the mentioned period the consumption decreased at a negative CAGR of 9.3%. The market is however expected to turnaround in the future. It is anticipated that the market will register a CAGR of 3.3% during the period from 2009-2015, whereby the consumption will increase and reach ~ thousand tonnes in 2015. 10 Figure: Argentina Whole Milk Powder Market Consumption by Volume in Thousand Tonnes, 2007-2015 100 80 60 40 Consumption Consumption ('000s Tonnes) Tonnes) ('000s 20 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 Whole Milk Powder Consumption ARGENTINA DAIRY PRODUCT MARKET NET TRADE BY VOLUME, 2007-2015 BUTTER Butter had the minimum trade surplus among all the other dairy products in the country. In 2007, the butter net trade increased from 3 thousand tonnes in 2007 to 4 thousand tonnes in 2008 but declined in 2009 to the same level of 2007. However, in the future, the trade surplus is expected to increase steadily with the demand for butter rising in other regions of the world.
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