The dairy industry is at the vanguard of commercialising research and development initiatives that will drive innovation, delegates at the International Dairy Federation (IDF) World Dairy Summit in Belfast were told.
In a session chaired by Dr Jeremy Hill, Chief Science and Technology Officer of Fonterra, experts in the field of research and development in the dairy sector provided insight into how scientific breakthroughs will drive innovation and help define the industry’s vision for the future.
Dr Margrethe Jonkman, Corporate Director of Research and Development at FrieslandCampina, said: “Innovation is fundamental to the ongoing success of our industry and ensuring that dairy remains relevant in the long term. The current focus on sustainability must continue if the sector is to reduce its environmental footprint. More than ever, it is vitally important that innovation adds value not only to the producer but also to the consumer.”
Dairy industry leaders at the World Dairy Summit in Belfast highlighted the continued impressive growth of the dairy sector in emerging markets across the world.
Speaking at the Summit in Belfast, industry leaders provided a clear indication that the future for dairy is bright in emerging markets, particularly in Asia, Africa and Latin America.
The economic dynamism of East Asia continues to present an enormous growth opportunity for the global dairy sector.
Michael Hanley, Group Chief Executive, Lakeland Dairies – which operate both sides of the Irish border – said: “A substantial proportion of our revenues are generated from exports with over 200 of our products being exported to over 80 countries. A host of opportunities exist for dairy businesses in global emerging markets.”
“By 2050, three out of four people will either live in Africa of Asia. It is vital for dairy businesses in developed markets to invest time and resources in building a presence to ensure dairy remains an integral part of consumers’ diets in these markets.”