Yili Maintains Its Spot as Asia's Top Dairy Company and Global Top Five Player
AMSTERDAM, Aug. 30, 2024 /PRNewswire/ -- After earning the title of the world's most valuable dairy brand, according to a new report released by Brand Finance on August 20, Yili has once again secured its spot among the global top five on Rabobank's annual Global Dairy Top 20 list, which was released on August 26. It also marks the 11th consecutive year that Yili has maintained its dominance as Asia's leading dairy company. Yili remains the sole Asian dairy brand to break into the global top five.
Rabobank's annual Global Dairy Top 20 list ranks the world's leading dairy companies based on their sales and financial performance. It's one of the most influential rankings within the dairy industry. This year, competition has intensified, leading to significant changes in the rankings. Less than half of the companies have maintained their previous positions, and seven have slipped in the rankings. One dairy company has even fallen out of the top 20 altogether.
Yili has continued to strengthen its leading edge by expanding its global value chains. The company has achieved 31 consecutive years of steady revenue growth, cementing its position as one of the world's top five dairy companies and maintaining its undisputed leadership in the Asian dairy market. In 2023, the company reported a total revenue of 126.179 billion yuan and a net profit of 10.429 billion yuan, surpassing previous records. This growth was driven by the company's commitment to quality, innovation, digitalization, and operational efficiency, as well as strategic adjustments to its product portfolio and sales model. Yili's performance in overseas markets has been very impressive. Its sub-brands Cremo and Joyday have gained popularity in Southeast Asia, and the company has made inroads into the African market. Overall, Yili's international revenue increased by a substantial 10.08% year-over-year, with products sold in over 60 countries and regions. This growth is a testament to the increasing consumer demand for Yili's products worldwide. In the first quarter of 2024, Yili reported a total revenue of 32.577 billion yuan and a net profit of 5.923 billion yuan.
Rabobank's report points out that the global dairy market has remained on an upward trajectory, and dairy companies are adjusting their strategies to maintain growth momentum. As one of the world's top five dairy companies and Asia's largest, Yili is at the forefront of driving high-quality development within the industry. Its commitment to high-quality development has not only contributed to its steady growth but has also propelled it closer to its vision of becoming a globally trusted provider of healthy food.
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