Combining analysis, insight and opinion – Zenith is pleased to unveil its new series of short sharp topical market reports, delivering assessments of the emerging issues that matter to consumers and the wider dairy industry:

• Adapt to change
• Be early to market
• Seize new growth opportunities

Zenith's new dairy market report investigates the numerous mergers and acquisitions that have taken place between dairy companies across the globe during the period January 2003 to July 2008.

The report provides in-depth analysis of the reasons behind this activity, including research on the trends in the industry and company strategies. It also includes profiles of major global dairy industry players, an overview of M&A activity by region, and a list of significant deals by company.

Dairy Mergers & Acquisitions report covers:

• Trends in the dairy industry
• Reasons for mergers & acquisitions
• Strategies for expansion
• M&A activity analysis for major global dairy companies
• Investigation of M&A activity in West Europe, East Europe, Asia Pacific, North America, South America, Middle East and Africa
• List of significant deals by company
• Forecast of dairy volume production by country to 2016
• Global milk drinks volume by region 2002-2007
• Co-operative membership figures
• Cheese production volume by country
• Global dairy companies' revenues 2007 & by region
• Exporters share of world dairy trade by country

Zenith's outline findings on M&A activity in the dairy industry are that:

• The global dairy market has seen extensive M&A activity in almost every region throughout the review period.
• Mergers and acquisitions in the more developed markets of the West have slowed as opportunities for acquisition are now limited and competition authorities have become more influential.
• Asia and East Europe, along with South America and the Middle East are likely to experience further M&A activity as key players are lured to their promising markets.
• Demand for dairy products is likely to grow for the foreseeable future – annual growth in dairy consumption globally is expected to be in the region of 2.7% for the next decade.
• Challenges facing the dairy industry include lower margins for producers, price hikes for consumers, growing demand (particularly from developing countries), supply issues due to drought & shortage of land. However, there are opportunities including the increasing importance and popularity of functional dairy drinks.
• Companies are consolidating due to the challenging market conditions and the aim is to achieve economies of scale and knowledge.
• Strategies for international expansion differ but the majority of companies have chosen a route of acquisition and joint venture which allows them to gain local knowledge, production and networks.

Zenith International reports offer you the most reliable market figures and in-depth analysis of trends. This comes from continually tracking the dairy market, and detailed discussions undertaken with industry players.