Where is the global dairy industry headed? In this episode of The Milk Check, we’re joined by Andy Powers, vice president of technical services at the American Dairy Products Institute (ADPI), alongside members of the Jacoby team, to explore the future of dairy. Together, we tackle emerging trends, market forces, and opportunities for dairy proteins, fats, and other dairy products in the next 5 to 10 years.

Emerging trends: The role of GLP-1 drugs in driving future global demand

Dairy vs. plant proteins: How the structure of dairy and plant proteins differ and what that means for nutrition and health

The rise of butterfat: U.S. butterfat and the role of exports in future consumption

Cheese’s global opportunity: How cheese production is ramping up to meet international demand

Dairy co-products: Innovations in whey protein, lactose, and milk protein isolates to address shifting market needs

From health-conscious consumers to industrial applications, we examine how dairy is evolving to stay competitive.

Plus, check out The ADPI 2023 ADPI Dairy Products Utilization & Production Trends report here and the ADPI Ingredient Resource Center here.

Don’t miss this comprehensive look at the future of dairy with insights from Andy and the Jacoby team, including Ted Jacoby, III, CEO & President, cheese, butter & dry ingredients; Josh White, vice president, dairy ingredients; Diego Carvallo, director of dry dairy ingredient trading, and Tristan Suellentrop, sales associate,

Into (with music): Welcome to the Milk Check, a podcast from TC Jacob and Company, where we share market insights and analysis with dairy farmers in mind.

Ted Jacoby, III (T3): Hello, everyone, and welcome to this month's episode of the Milk Check. Today, we are excited to have Andy Powers, vice president of technical services for the American Dairy Products Institute, joining us. Joining us as well, we have some of our usual suspects. Josh White, vice president of Dairy Ingredients, Diego Carvallo, our Director of International Sales for Dairy Ingredients, and Tristan Suellentrop, our sales associate and resident 20-something on our sales team. Guys, thank you, and Andy, excited to have you with us. Thanks for joining us.

Our topic today is: what's the future of dairy? Where do we think demand is going to grow globally in the dairy industry? What are the components that this industry is going to see the greatest demand and opportunity for as we look out over the next 5 to 10 years? Andy, I'll start by saying we just recently had a five 10 year vision conversation within our organization, and one of the things that we spent a lot of time talking about was how dairy proteins, specifically as you look at the way the developing countries and the way their diets are changing and growing and developing when you look at the aging populations of many parts of the world when you look at the addition of medicines like Ozempic and Wegovy, protein is just going to become a bigger and a bigger part of the nutritional profile of what human beings eat.

I've got two boys in their twenties, and they are much healthier eaters than I ever was when I was in my twenties. That means they're consuming a lot more dairy protein.

Andy Powers: Right.

T3: What are your thoughts, and where do you think dairy proteins fit in that space?

Andy Powers: First and foremost, because I've worked for the American Dairy Products Institute, you're going to hear me talk about dairy. I drank the Kool-Aid a number of years ago. I believe in dairy's value proposition, and I believe in its strengths in terms of nutrient density and complete nutrition. You talked about some of the driving forces that are going to influence demand for dairy in the future. We've got population growth as the baseline talked about an aging population. I think that's significant. The ongoing current modernization or GDP growth meaning that people can transition from the most...