Global UHT Milk Market

1. Global UHT Milk Market Focus on Type (Whole, Skimmed, Semi-Skimmed), Distribution Channel (Institutional and Retail), and Region – Analysis and Forecast: 2019-2024 January 2020 TOC

2. Global UHT Milk Market BIS Research is a leading market intelligence and technology research company. BIS Research publishes in-depth market intelligence reports focusing on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management. BIS Research provides multi-client reports, company profiles, databases, and custom research services. Copyright © 2020 BIS Research Inc. All Rights Reserved. This document contains highly confidential information and is the sole property of BIS Research. Disclosing, copying, circulating, quoting or otherwise reproducing any or all contents of this document is strictly prohibited. Access to this information is provided exclusively for the benefit of the people or organization concerned. It may not be accessed by, or offered whether for sale or otherwise to any third party. All rights reserved at BIS Research 2

3. Global UHT Milk Market P Preface reface The global milk industry has transformed drastically in the last few years, owing to the increasing demand for milk and associated milk products. The mainstay of this trend is largely attributed to key factors such as rising global population, high-income growth, and increasing awareness about health and well-being, which has resulted in a growing need for better alternatives across all major food categories. Various traditional milk producers have actively adopted the concept of ultra high temperature (UHT) processing for milk to provide a premium product to its customer base. Due to the rapid deployment of the UHT process in the milk industry, the milk producers have been quite successful in establishing a new customer base in the dairy industry, thus, leading to a boost in the overall revenues. The advent of innovative milk production techniques has resulted in the emergence of a customer base which largely prefers premium products. The market research study offers a wide perspective of the UHT milk market and analyzes the sales volume across different milk types by providing critical insights into the direction of its future expansion. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools, that have been used to build the forecast and the predictive models. This study has been designed to answer some of the most crucial questions about the UHT milk market: • What are the major factors promoting the uptake of UHT milk by dairy consumers? • How is the high investment cost affecting the overall adoption of UHT milk by the customers? What type of solutions can be undertaken by the companies to overcome the cost factor? • How competitive is the industry in terms of market developments by key players such as business expansions, collaborations, acquisitions, agreements, and new product developments? • What are the key strategies, both inorganic and organic, that are being adopted by market participants to further expand their market share, regionally, as well as in new product lines? All rights reserved at BIS Research 3

4. Global UHT Milk Market • What is the positioning of the leading players in the UHT milk market on the basis of their revenue contribution? • Which is the most common application area of UHT milk? What is the expected growth potential for different applications during the forecast period? • Who are the leading players offering different UHT milk products in the market? • What is the expected future scenario and revenue generated by different distribution channels for the sale of UHT milk market? • Which was the most dominant region in terms of sales volume, revenue generation, and presence of companies as of 2018? • What are the internal and external factors that currently impact the company’s positioning in the market? The report is a compilation of UHT milk market segmented by milk type, distribution channel, and region. In the extensive primary research process undertaken for this study, the primary sources further include industry experts and key executives from prominent companies and organizations in the UHT milk market. Moreover, the report consists of a comprehensive analysis of UHT milk market for different regions. This market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). The report also provides a country-based analysis for all the leading countries in each region, including the U.S., Canada, the Netherlands, the U.K., France, Italy, the U.A.E, Saudi Arabia, China, Japan, Singapore, South Korea, and Australia. BIS Agri-Tech January 2020 All rights reserved at BIS Research 4

5. Global UHT Milk Market Table of Contents Table of Contents Executive Summary……………………………………………...…………….18 1. Market Dynamics .............................................................................................. 25 1.1 Market Drivers ............................................................................................. 25 1.1.1 Increasing Disposable Income and Urbanization .......................... 26 1.1.2 Longer Shelf Life and Convenience in Usage ................................ 27 1.1.3 Combating Lactose Intolerance ...................................................... 27 1.2 Market Restraints ........................................................................................ 28 1.2.1 High Cost of Packaging ................................................................... 28 1.2.2 Consumer Tastes and Preferences ................................................. 29 1.3 Market Opportunities .................................................................................. 29 1.3.1 Opportunities in Asia-Pacific, Middle East, and Africa ................. 29 1.3.2 Collaborations with Online Retailers .............................................. 30 2. Competitive Landscape ................................................................................... 31 2.1 Key Market Developments and Strategies ................................................ 31 2.1.1 Business Expansion and Contracts ............................................... 32 2.1.2 Mergers and Acquisitions ................................................................ 33 2.1.3 Partnerships, Collaborations, & Joint Ventures ............................ 34 2.1.4 Product Launches and Developments ........................................... 36 2.2 Geographic Presence of Key Competitors ............................................... 37 3. Industry Analysis .............................................................................................. 38 3.1 Industry Attractiveness .............................................................................. 38 3.1.1 Threat of New Entrants .................................................................... 39 3.1.2 Bargaining Power of Buyers ........................................................... 41 3.1.3 Bargaining Power of Suppliers ....................................................... 42 3.1.4 Threat from Substitutes ................................................................... 43 3.1.5 Intensity of Competitive Rivalry ...................................................... 43 3.2 Supply Chain Analysis................................................................................ 44 3.3 Consortiums and Associations ................................................................. 45 All rights reserved at BIS Research 5

6. Global UHT Milk Market 4. Global UHT Milk Market (by Milk Type) ........................................................... 49 4.1 Assumptions and Limitations for Analysis and Forecast of the Global UHT Milk Market .......................................................................................... 49 Market Overview .......................................................................................... 49 Whole Milk ................................................................................................... 51 Semi-Skimmed Milk .................................................................................... 52 Skimmed Milk .............................................................................................. 53 4.2 4.3 4.4 4.5 5. Global UHT Milk Market (by Distribution Channel) ........................................ 55 5.1 5.2 5.3 Market Overview .......................................................................................... 55 Direct/Institutional Sales ............................................................................ 56 Retail Sales .................................................................................................. 57 5.3.1 Supermarkets/Hypermarkets ........................................................... 59 5.3.2 Small Retail Stores ........................................................................... 60 5.3.3 Online ................................................................................................ 61 5.3.4 Others (Convenience Stores, Specialty Stores, and Kiosks) ....... 62 6. Global UHT Milk Market (by Region), Million Tons, 2019-2024 ..................... 64 6.1 6.2 Market Overview .......................................................................................... 64 Europe .......................................................................................................... 66 6.2.1 Europe UHT Milk Market (by Milk Type) ......................................... 68 6.2.2 Europe UHT Milk Market (By Distribution Channel) ...................... 69 6.2.3 Europe UHT Milk Market (by Country) ............................................ 70 6.2.3.1 France ................................................................................................ 70 6.2.3.2 Germany ............................................................................................. 71 6.2.3.3 Russia ................................................................................................ 73 6.2.3.4 U.K. .................................................................................................... 74 6.2.3.5 Netherlands ........................................................................................ 75 6.2.3.6 Rest-of-Europe ................................................................................... 76 6.3 North America ............................................................................................. 76 6.3.1 North America UHT Milk Market (by Milk Type) ............................. 78 6.3.2 North America UHT Milk Market (by Distribution Channel) .......... 79 6.3.3 North America UHT Milk Market (by Country) ................................ 80 6.3.3.1 U.S. .................................................................................................... 80 All rights reserved at BIS Research 6

7. Global UHT Milk Market 6.3.3.2 6.3.3.3 6.3.3.4 6.4 6.4.1 6.4.2 6.4.3 6.4.3.1 6.4.3.2 6.4.3.3 6.4.3.4 6.4.3.5 6.4.3.6 6.5 6.5.1 6.5.2 6.5.3 6.5.3.1 6.5.3.2 6.5.3.3 6.5.3.4 6.5.3.5 6.5.3.6 Canada ............................................................................................... 81 Mexico ................................................................................................ 82 Rest-of-North America ........................................................................ 83 Asia-Pacific .................................................................................................. 84 Asia-Pacific UHT Milk Market (by Milk Type) ................................. 86 Asia-Pacific UHT Milk Market (Distribution Channel) .................... 86 Asia-Pacific UHT Milk Market (by Country) .................................... 87 China .................................................................................................. 88 Japan .................................................................................................. 89 Australia ............................................................................................. 90 India .................................................................................................... 91 South Korea ....................................................................................... 93 Rest-of-Asia-Pacific ............................................................................ 93 Rest-of-the-World (RoW) ............................................................................ 94 RoW UHT Milk Market (by Type)...................................................... 95 RoW UHT Milk Market (Distribution Channel) ................................ 96 RoW UHT Milk Market (by Country) ................................................ 97 Brazil .................................................................................................. 97 Argentina ............................................................................................ 98 Egypt .................................................................................................. 99 Saudi Arabia ..................................................................................... 100 South Africa ...................................................................................... 101 Rest-of-RoW ..................................................................................... 102 7. Company Profiles ........................................................................................... 103 7.1 Arla Foods ................................................................................................. 105 7.1.1 Company Overview ........................................................................ 105 7.1.2 Role of Arla Foods in UHT Milk Market ......................................... 105 7.1.3 SWOT Analysis ............................................................................... 107 7.2 Danone S.A. ............................................................................................... 108 7.2.1 Company Overview ........................................................................ 108 7.2.2 Role of Danone S.A. in UHT Milk Market ...................................... 108 7.2.3 Financials ........................................................................................ 110 All rights reserved at BIS Research 7

8. Global UHT Milk Market SWOT Analysis ............................................................................... 113 Nestlé S.A. ................................................................................................. 114 7.3.1 Company Overview ........................................................................ 114 7.3.2 Role of Nestlé S.A. in UHT Milk Market ......................................... 114 7.3.3 Financials ........................................................................................ 116 7.3.4 SWOT Analysis ............................................................................... 119 7.4 Parmalat S.p.A. .......................................................................................... 120 7.4.1 Company Overview ........................................................................ 120 7.4.2 Role of Parmalat S.p.A. in UHT Milk Market ................................. 120 7.4.3 Financials ........................................................................................ 121 7.4.4 SWOT Analysis ............................................................................... 124 7.5 Savencia Fromage & Dairy ....................................................................... 125 7.5.1 Company Overview ........................................................................ 125 7.5.2 Role of Savencia Fromage & Dairy in UHT Milk Market .............. 125 7.5.3 Financials ........................................................................................ 126 7.5.4 SWOT Analysis ............................................................................... 128 7.6 Sodiaal Group ............................................................................................ 129 7.6.1 Company Overview ........................................................................ 129 7.6.2 Role of Sodiaal Group in UHT Milk Market ................................... 129 7.6.3 Financials ........................................................................................ 130 7.6.4 SWOT Analysis ............................................................................... 132 7.7 Inner Mongolia Yili Industrial Group Co. Ltd. ......................................... 133 7.7.1 Company Overview ........................................................................ 133 7.7.2 Role of Inner Mongolia Yili Industrial Group Co. Ltd. in UHT Milk Market.............................................................................. 133 7.7.3 Financials ........................................................................................ 134 7.7.4 SWOT Analysis ............................................................................... 136 7.8 Fonterra Co-operative Group ................................................................... 137 7.8.1 Company Overview ........................................................................ 137 7.8.2 Role of Fonterra Co-operative Group in UHT Milk Market .......... 137 7.8.3 Financials ........................................................................................ 138 7.8.4 SWOT Analysis ............................................................................... 140 7.9 Murray Goulburn Co-operative Co. Limited ............................................ 141 7.2.4 7.3 All rights reserved at BIS Research 8

9. Global UHT Milk Market Company Overview ........................................................................ 141 Role of Murray Goulburn Co-operative Co. Limited in UHT Milk Market.............................................................................. 141 Financials ........................................................................................ 142 SWOT Analysis ............................................................................... 144 7.10Britannia Industries Limited ..................................................................... 145 7.10.1 Company Overview ........................................................................ 145 7.10.2 Role of Britannia Industries Limited in UHT Milk Market ............ 145 7.10.3 Financials ........................................................................................ 146 7.10.4 SWOT Analysis ............................................................................... 148 7.11The Bel Group ........................................................................................... 149 7.11.1 Company Overview ........................................................................ 149 7.11.2 Role of The Bel Group in UHT Milk Market ................................... 149 7.11.3 Financials ........................................................................................ 150 7.11.4 SWOT Analysis ............................................................................... 152 7.12Almarai Company ...................................................................................... 153 7.12.1 Company Overview ........................................................................ 153 7.12.2 Role of Almarai Company in UHT Milk Market ............................. 153 7.12.3 Financials ........................................................................................ 154 7.12.4 SWOT Analysis ............................................................................... 157 7.13China Mengniu Dairy Company Limited .................................................. 158 7.13.1 Company Overview ........................................................................ 158 7.13.2 Role of China Mengniu Dairy Company Limited Group in UHT Milk Market.............................................................................. 158 7.13.3 Financials ........................................................................................ 159 7.13.4 SWOT Analysis ............................................................................... 161 7.14Bright Dairy & Food Co., Ltd. ................................................................... 162 7.14.1 Company Overview ........................................................................ 162 7.14.2 Role of Bright Dairy & Food Co., Ltd. Limited Group in UHT Milk Market.............................................................................. 162 7.14.3 Financials ........................................................................................ 164 7.14.4 SWOT Analysis ............................................................................... 166 7.15Organic Valley ........................................................................................... 167 7.9.1 7.9.2 7.9.3 7.9.4 All rights reserved at BIS Research 9

10. Global UHT Milk Market 7.15.1 7.15.2 7.15.3 Company Overview ........................................................................ 167 Role of Organic Valley in UHT Milk Market .................................. 167 SWOT Analysis ............................................................................... 168 8. Report Scope and Methodology .................................................................... 169 8.1 8.2 8.3 8.4 8.5 8.6 Report Scope ............................................................................................. 169 UHT Milk Market Research Methodology ................................................ 170 Primary Data Sources ............................................................................... 171 Secondary Data Sources .......................................................................... 172 Data Triangulation ..................................................................................... 173 Market Estimation and Forecast .............................................................. 174 All rights reserved at BIS Research 10

11. Global UHT Milk Market List of Tables List of Tables Table 1.1: Impact Analysis of Drivers .................................................................................................. 26 Table 1.2: Impact Analysis of Restraints ............................................................................................. 28 Table 3.1: Analyzing Threat of New Entrants ...................................................................................... 40 Table 3.2: Analyzing Bargaining Power of Buyers .............................................................................. 41 Table 3.3: Analyzing Bargaining Power of Suppliers .......................................................................... 42 Table 3.4: Analyzing the Threat from Substitute ................................................................................. 43 Table 3.5: Analyzing the Intensity of Competitive Rivalry ................................................................... 44 Table 3.6: List of Consortiums and Associations ................................................................................ 46 Table 4.1: Global UHT Milk Market (by Milk Type), Million Tons, 2018-2024 .................................... 50 Table 5.1: Global UHT Milk Market (by Distribution Channel), Million Tons, 2018-2024 .................. 56 Table 5.2: Global Internet and Population Statistics, 2019 ................................................................. 62 Table 6.1: Global UHT Milk Market (by Region), Million Tons, 2018-2024 ........................................ 65 Table 6.2: Europe UHT Milk Market (by Milk Type), Million Tons, 2018-2024................................... 68 Table 6.3: Europe UHT Milk Market (by Distribution Channel), Million Tons, 2018-2024 ................ 69 Table 6.4: Europe UHT Milk Market (by Retail Channel), Million Tons, 2018-2024 .......................... 69 Table 6.5: North America UHT Milk Market (by Milk Type), Million Tons, 2018-2024 ....................... 78 Table 6.6: North America UHT Milk Market (by Distribution Channel), Million Tons, 2018-2024 .... 79 Table 6.7: North America UHT Milk Market (by Retail Channel), Million Tons, 2018-2024 .............. 79 Table 6.8: Asia-Pacific UHT Milk Market (by Milk Type), Million Tons, 2018-2024 ........................... 86 Table 6.9: Asia-Pacific UHT Milk Market (by Distribution Channel), Million Tons, 2018-2024 .......... 86 Table 6.10: Asia-Pacific UHT Milk Market (by Retail Channel), Million Tons, 2018-2024 ................ 87 Table 6.11: RoW UHT Milk Market (by Type), Million Tons, 2018-2024 ............................................ 95 Table 6.12: RoW UHT Milk Market (by Distribution Channel), Million Tons, 2018-2024 ................... 96 Table 6.13: RoW UHT Milk Market (by Retail Channel), Million Tons, 2018-2024 ............................ 96 Table 7.1: Arla Foods: Product Portfolio ............................................................................................ 106 Table 7.2: Danone: Product Portfolio ................................................................................................. 109 Table 7.3: Nestlé S.A.: Product Portfolio ........................................................................................... 115 Table 7.4: Parmalat S.p.A.: Product Portfolio .................................................................................... 121 Table 7.5: Savencia Fromage & Dairy: Product Portfolio ................................................................. 126 Table 7.6: Sodiaal Group: Product Portfolio ...................................................................................... 130 All rights reserved at BIS Research 11

12. Global UHT Milk Market Table 7.7: Inner Mongolia Yili Industrial Group Co. Ltd.: Product Portfolio ...................................... 134 Table 7.8: Fonterra Co-operative Group: Product Portfolio .............................................................. 138 Table 7.9: Murray Goulburn Co-operative Co. Limited: Product Portfolio ........................................ 142 Table 7.10: Britannia Industries Limited: Product Portfolio ............................................................... 146 Table 7.11: Fromageries Bel: Product Portfolio ................................................................................ 150 Table 7.12: Almarai Company: Product Portfolio .............................................................................. 154 Table 7.13: China Mengniu Dairy Company Limited: Product Portfolio ........................................... 159 Table 7.14: Bright Dairy & Food Co., Ltd.: Product Portfolio ............................................................ 163 Table 7.15: Organic Valley: Product Portfolio ................................................................................... 168 All rights reserved at BIS Research 12

13. Global UHT Milk Market L List of Figures ist of Figures Figure 1: Macroeconomic Trends Impacting the Global UHT Milk Demand ...................................... 19 Figure 2: Drivers and Restraints – Global UHT Milk Market ............................................................... 20 Figure 3: Global UHT Milk Market Snapshot ....................................................................................... 20 Figure 4: Global UHT Milk Market (by Milk Type), 2019-2024, (Million Tons) ................................... 21 Figure 5: Global UHT Milk Market by Application Area ....................................................................... 22 Figure 6: Regional UHT Milk Market Snapshot ................................................................................... 23 Figure 1.1: Market Dynamics ............................................................................................................... 25 Figure 1.2: Urbanization Across Regions, 2018 .................................................................................. 26 Figure 2.1: Strategies Adopted by the Key Players (January 2016 - December 2019) ..................... 31 Figure 2.2: Business Expansion and Contract Share (by Companies) .............................................. 33 Figure 2.3: Mergers and Acquisitions Share (by Companies) ............................................................ 34 Figure 2.4: Partnerships, Collaborations and Joint Ventures Share (by Companies) ....................... 35 Figure 2.5: Product Launches and Developments Share (by Companies) ........................................ 36 Figure 2.6: Geographic Presence of Key Competitors ....................................................................... 37 Figure 3.1: Porter’s Five Forces Analysis for the UHT Milk Market .................................................... 39 Figure 3.2: Supply Chain Analysis of UHT Milk Market ...................................................................... 45 Figure 4.1: Different Milk Types Based on Fat Content ...................................................................... 50 Figure 4.2: Global UHT Milk Market (by Whole Milk), Million Tons, 2018-2024 ................................ 51 Figure 4.3: Different Whole UHT Milk Types ....................................................................................... 52 Figure 4.4: Global UHT Milk Market (by Semi-Skimmed Milk), Million Tons, 2018-2024 .................. 53 Figure 4.5: Global UHT Milk Market (by Skimmed Milk), Million Tons, 2018-2024 ........................... 54 Figure 5.1: Types of Distribution Channels ......................................................................................... 55 Figure 5.2: Global UHT Milk Market (by Direct/Institutional Sales), Million Tons, 2018-2024 ........... 57 Figure 5.3: Global UHT Milk Market (by Retail Sales), Million Tons, 2018-2024 ............................... 58 Figure 5.4: Global UHT Milk Market (by Supermarkets/Hypermarkets), Million Tons, 2018-2024 .. 59 Figure 5.5: Global UHT Milk Market (by Small Retail Stores), Million Tons, 2018-2024 ................... 60 Figure 5.6: Global UHT Milk Market (by Online), Million Tons, 2018-2024 ........................................ 61 Figure 5.7: Global UHT Milk Market (by Other Distribution Channels), Million Tons, 2018-2024 .... 63 Figure 6.1: Global UHT Milk Market, Market Share and CAGR (by Region), by Volume ................. 64 Figure 6.2: Global UHT Milk Market Attractiveness Index, By Region, By Volume, 2018-2024 ...... 66 All rights reserved at BIS Research 13

14. Global UHT Milk Market Figure 6.3: Europe UHT Milk Market, Million Tons, 2018-2024 .......................................................... 67 Figure 6.4: Europe Urban Population Share by Key Countries (as a Percentage of Total Population), 2016-2018 .................................................................................................. 68 Figure 6.5: France UHT Milk Market, Million Tons, 2018-2024 .......................................................... 70 Figure 6.6: Germany UHT Milk Market, Million Tons, 2018-2024 ...................................................... 71 Figure 6.7: Russia UHT Milk Market, Million Tons, 2018-2024 .......................................................... 73 Figure 6.8: The U.K. UHT Milk Market, Million Tons, 2018-2024 ....................................................... 74 Figure 6.9: The Netherlands UHT Milk Market, Million Tons, 2018-2024 .......................................... 75 Figure 6.10: Rest-of-Europe UHT Milk Market, Million Tons, 2018-2024 .......................................... 76 Figure 6.11: North America UHT Milk Market, Million Tons, 2018-2024 ............................................ 77 Figure 6.12: North America Urban Population Share (as a Percentage of Total Population), by Select Country, 2016-2018 ........................................................................................ 78 Figure 6.13: The U.S. UHT Milk Market, Million Tons, 2018-2024 ..................................................... 80 Figure 6.14: Canada UHT Milk Market, Million Tons, 2018-2024 ...................................................... 81 Figure 6.15: Mexico UHT Milk Market, Million Tons, 2018-2024 ........................................................ 82 Figure 6.16: Rest-of-North America UHT Milk Market, Million Tons, 2018-2024 ............................... 83 Figure 6.17: Asia-Pacific UHT Milk Market, Million Tons, 2018-2024 ................................................ 84 Figure 6.18: Asia-Pacific Urban Population Share (as a Percentage of Total Population), 2016-2018 ....................................................................................................................... 85 Figure 6.19: China UHT Milk Market, Million Tons, 2018-2024 .......................................................... 88 Figure 6.20: Japan UHT Milk Market, Million Tons, 2018-2024 ......................................................... 89 Figure 6.21: Australia UHT Milk Market, Million Tons, 2018-2024 ..................................................... 90 Figure 6.22: India UHT Milk Market, Million Tons, 2018-2024 ........................................................... 91 Figure 6.23: India GDP per Capita, PPP, 2012-2016 (USD) .............................................................. 92 Figure 6.24: India Number of Internet Users (Million), Internet Penetration (%), 2012-2016 ............ 92 Figure 6.25: South Korea UHT Milk Market, Million Tons, 2018-2024 ............................................... 93 Figure 6.26: Rest-of-Asia-Pacific UHT Milk Market, Million Tons, 2018-2024 ................................... 94 Figure 6.27: RoW UHT Milk Market, Million Tons, 2018-2024 ........................................................... 95 Figure 6.28: Brazil UHT Milk Market, Million Tons, 2018-2024 .......................................................... 97 Figure 6.29: Argentina UHT Milk Market, Million Tons, 2018-2024 .................................................... 98 Figure 6.30: Egypt UHT Milk Market, Million Tons, 2018-2024 .......................................................... 99 Figure 6.31: Saudi Arabia UHT Milk Market, Million Tons, 2018-2024 ............................................ 100 All rights reserved at BIS Research 14

15. Global UHT Milk Market Figure 6.32: South Africa UHT Milk Market, Million Tons, 2018-2024 ............................................. 101 Figure 6.33: Rest-of-RoW UHT Milk Market, Million Tons, 2018-2024 ............................................ 102 Figure 7.1: Segmentation of Key Companies Profiled by Headquarter Location ............................ 103 Figure 7.2: Arla Foods: SWOT Analysis ............................................................................................ 107 Figure 7.3: Danone S.A.: Overall Financials, 2016-2018 ................................................................. 110 Figure 7.4: Danone: Net Revenue by Business Segment, 2016-2018 ............................................ 111 Figure 7.5: Danone S.A.: Net Revenue by Regional Segment, 2016-2018 ..................................... 112 Figure 7.6: Danone Foods: SWOT Analysis ..................................................................................... 113 Figure 7.7: Nestlé S.A.: Overall Financials, 2016-2018 .................................................................... 116 Figure 7.8: Nestlé S.A.: Net Revenue by Business Segment, 2016-2018 ....................................... 117 Figure 7.9: Nestlé S.A.: Net Revenue by Regional Segment, 2016-2018 ....................................... 118 Figure 7.10: Nestlé S.A.: SWOT Analysis ......................................................................................... 119 Figure 7.11: Parmalat S.p.A.: Overall Financials, 2015-2017 ........................................................... 121 Figure 7.12: Parmalat S.p.A.: Net Revenue by Business Segment, 2015-2017 ............................. 122 Figure 7.13: Parmalat S.p.A.: Net Revenue by Regional Segment, 2015-2017 .............................. 123 Figure 7.14: Parmalat S.p.A.: SWOT Analysis .................................................................................. 124 Figure 7.15: Savencia Fromage & Dairy: Overall Financials, 2016-2018 ........................................ 126 Figure 7.16: Savencia Fromage & Dairy: Net Revenue by Business Segment, 2016-2018 ........... 127 Figure 7.17: Savencia Fromage & Dairy: SWOT Analysis ............................................................... 128 Figure 7.18: Sodiaal Group: Overall Financials, 2016-2018 ............................................................. 130 Figure 7.19: Sodiaal Group: Net Revenue by Business Segment, 2017-2018 ............................... 131 Figure 7.20: Sodiaal Group: SWOT Analysis .................................................................................... 132 Figure 7.21: Inner Mongolia Yili Industrial Group Co. Ltd.: Overall Financials, 2016-2018 ............. 134 Figure 7.22: Inner Mongolia Yili Industrial Group Co. Ltd.: Net Revenue by Business Segment, 2016-2018 .................................................................................................... 135 Figure 7.23: Inner Mongolia Yili Industrial Group Co. Ltd.: SWOT Analysis .................................... 136 Figure 7.24: Fonterra Co-operative Group: Overall Financials, 2017-2019 ..................................... 138 Figure 7.25: Fonterra Co-operative Group: Net Revenue by Business Segment, 2017-2019 ........ 139 Figure 7.26: Fonterra Co-operative Group: Net Revenue by Regional Segment, 2017-2019 ........ 139 Figure 7.27: Fonterra Co-operative Group: SWOT Analysis ............................................................ 140 Figure 7.28: Murray Goulburn Co-operative Co. Limited: Overall Financials, 2017-2019 ............... 142 All rights reserved at BIS Research 15

16. Global UHT Milk Market Figure 7.29: Murray Goulburn Co-operative Co. Limited: Net Revenue by Business Segment, 2016-2018 .................................................................................................... 143 Figure 7.30: Murray Goulburn Co-operative Co. Limited: SWOT Analysis ...................................... 144 Figure 7.31: Britannia Industries Limited: Overall Financials, 2017-2019 ........................................ 146 Figure 7.32: Britannia Industries Limited: Net Revenue by Regional Segment, 2017-2019 ........... 147 Figure 7.33: Britannia Industries Limited: SWOT Analysis ............................................................... 148 Figure 7.34: The Bel Group: Overall Financials, 2016-2018 ............................................................ 150 Figure 7.35: The Bel Group: Net Revenue by Regional Segment, 2016-2018 ............................... 151 Figure 7.36: The Bel Group: SWOT Analysis ................................................................................... 152 Figure 7.37: Almarai Company: Overall Financials, 2016-2018 ....................................................... 154 Figure 7.38: Almarai Company: Net Revenue by Business Segment, 2016-2018 .......................... 155 Figure 7.39: Almarai Company: Net Revenue by Regional Segment, 2016-2018 .......................... 156 Figure 7.40: Almarai Company: SWOT Analysis .............................................................................. 157 Figure 7.41: China Mengniu Dairy Company Limited: Overall Financials, 2017-2019 .................... 159 Figure 7.42: China Mengniu Dairy Company Limited: Net Revenue by Business Segment, 2016-2018 ..................................................................................................................... 160 Figure 7.43: China Mengniu Dairy Company Limited: SWOT Analysis ........................................... 161 Figure 7.44: Bright Dairy & Food Co., Ltd.: Overall Financials, 2016-2018 ..................................... 164 Figure 7.45: Bright Dairy & Food Co., Ltd.: Net Revenue by Business Segment, 2016-2018 ........ 165 Figure 7.46: Bright Dairy & Food Co., Ltd.: SWOT Analysis ............................................................ 166 Figure 7.47: Organic Valley: SWOT Analysis .................................................................................... 168 Figure 8.1 UHT Milk Market Scope .................................................................................................... 169 Figure 8.2 Report Methodology ......................................................................................................... 170 Figure 8.3 Primary Interviews Breakdown, by Company, Designation, and Region ....................... 172 Figure 8.4 Sources of Secondary Research ..................................................................................... 173 Figure 8.5 Data Triangulation ............................................................................................................. 174 Figure 8.6 Top-Down and Bottom-Up Approaches for Market Estimation ....................................... 175 All rights reserved at BIS Research 16

17. Global UHT Milk Market BIS Res BIS Research earch Offerings: Offerings: We are on a mission to harness the potential of disruptive technologies to make businesses thrive in today’s digital age. We have a vision to be a leading and a preferred knowledge partner for corporates and institutions worldwide and assist them with market intelligence in the area of emerging technologies, advisories, and other innovative solutions. Know More Know More Know More Know More All rights reserved at BIS Research 17

18. Global UHT Milk Market Disclaimer Disclaimer BIS Research Inc. provides valuable market intelligence to an exclusive group of customers in response to orders. The report is licensed for the customer's internal use only and is subject to restrictions set henceforth. This document and its contents are confidential and may not be further distributed, published or reproduced, in whole or in part, by any medium or in any form for any purpose, without the written consent of BIS Research. The customer will not disclose the contents of the report, whether directly through any medium or indirectly through incorporation in a database, marketing list, report or otherwise, or use or permit the use of information to generate any statistical or other information that is or will be provided to third parties, or voluntarily produce information in legal proceedings. Market reports are based on expectations, estimates and projections as of the date such information is available. Any recommendation contained in this report may not be suitable for all investors or businesses. The market conclusions drawn are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BIS Research as of the date of such statements, are inherently subject to market fluctuations and business, economic and competitive uncertainties and contingencies. For more details regarding permission, please contact us: Email: sales@bisresearch.com Tel: +1 510 404 8135 All rights reserved at BIS Research 18

19. Global UHT Milk Market BIS RESEARCH INC. 39111 Paseo Padre PKWY, Suite 313 Fremont, CA 94538 -1686 E-mail: info@bisresearch.com | Call Us: +1-510-404-8135 Global Delivery Center Tower B First Floor, Tapasya Corporate Heights, Greater Noida Expressway, Sector 126, Noida, U.P., 201303, India All rights reserved at BIS Research 19 Tel: +91 120 4261540 / 4261544