New Zealand’s largest company, Fonterra, is diversifying from dairy products to high-value biotech.
In response to the changing global market, with consumer demand for dairy products slowing, the dairy co-operative has recently established a Global Markets division, which will investigate new advanced consumer and biotech products.
Head of the new division, Judith Swales, said global dairy production was levelling off due to land constraints and climate change considerations, and consumer demand for dairy products, such as milk, butter, cheese and yogurt, was also decreasing.
“We can command more value from our probiotics . . . and actually command maximum dollars which obviously goes back to our farmers,” she said, adding there was huge potential for global growth.
“The reason we formed global markets was to allow us to really be able to respond much quicker, and to be much more decisive about where we want to play, how we’re going to grow, and how we’re going to win.”
