2% total constant value growth over the forecast period will be better than the 14% decline which was recorded over the review period. The negative review period performance was mainly due to a drop in 2009 caused by the financial crisis and another drop in 2012 caused by the milk price war.
Fat-free fresh/pasteurised milk is set to continue to be the best performing category over the forecast period, posting a constant value CAGR of 2%. Growing health awareness will be the main driver behind the continuing growth of fat-free milk.
In constant terms, average unit price in milk is set to decline by 3% over the forecast period. This decline will be partly due to the fact that milk is a commodity product, where the possibilities for introducing new product developments with sufficient added value to justify higher prices are limited; it will also be partly due to the increasing share of economy private label milk and growing sales through discounters.
Over the forecast period manufacturers are likely to explore areas which are so far underdeveloped. With organic milk having already reached by far the highest sales per capita in Western Europe, further areas to develop could be lactose-free milk and milk fortified with vitamin D. As Danes have a strong preference for natural products, it is unlikely, however, that these areas will prove as profitable as organic milk, while at the same time possible obligatory vitamin D-fortification will eliminate the potential of vitamin D as a competitive factor in milk in Denmark.
2% total constant value growth over the forecast period will be better than the 14% decline which was recorded over the review period. The negative review period performance was mainly due to a drop in 2009 caused by the financial crisis and another drop in 2012 caused by the milk price war.
Fat-free fresh/pasteurised milk is set to continue to be the best performing category over the forecast period, posting a constant value CAGR of 2%. Growing health awareness will be the main driver behind the continuing growth of fat-free milk.
In constant terms, average unit price in milk is set to decline by 3% over the forecast period. This decline will be partly due to the fact that milk is a commodity product, where the possibilities for introducing new product developments with sufficient added value to justify higher prices are limited; it will also be partly due to the increasing share of economy private label milk and growing sales through discounters.
Over the forecast period manufacturers are likely to explore areas which are so far underdeveloped. With organic milk having already reached by far the highest sales per capita in Western Europe, further areas to develop could be lactose-free milk and milk fortified with vitamin D. As Danes have a strong preference for natural products, it is unlikely, however, that these areas will prove as profitable as organic milk, while at the same time possible obligatory vitamin D-fortification will eliminate the potential of vitamin D as a competitive factor in milk in Denmark.
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