Dairy Products and Alternatives in Bangladesh

Dairy Products and Alternatives
in Bangladesh
Euromonitor International
September 2022
DAIRY PRODUCTS AND ALTERNATIVES IN BANGLADESH Passport i
LIST OF CONTENTS AND TABLES

EXECUTIVE SUMMARY .............................................................................................................. 1
Dairy products and alternatives in 2022: The big picture .......................................................... 1
Country background ................................................................................................................. 2
Socioeconomic trends .............................................................................................................. 3
Logistics/infrastructure .............................................................................................................. 4
What next for dairy products and alternatives? ......................................................................... 5
Chart 1 Dairy Products and Alternatives: Traditional Grocery Retailer ..................... 6
Chart 2 Dairy Products and Alternatives: Modern Grocery Retailer .......................... 6
MARKET DATA ............................................................................................................................ 7
Table 1 Sales of Dairy Products and Alternatives by Category: Value 2017-
2022 ............................................................................................................. 7
Table 2 Sales of Dairy Products and Alternatives by Category: % Value
Growth 2017-2022 ....................................................................................... 7
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value
2018-2022 .................................................................................................... 8
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2019-
2022 ............................................................................................................. 8
Table 5 Distribution of Dairy Products and Alternatives by Format: % Value
2017-2022 .................................................................................................... 8
Table 6 Forecast Sales of Dairy Products and Alternatives by Category: Value
2022-2027 .................................................................................................... 9
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: %
Value Growth 2022-2027 ............................................................................. 9
DISCLAIMER ............................................................................................................................... 9
BABY FOOD .............................................................................................................................. 10
2022 Developments ................................................................................................................ 10
Prospects and Opportunities .................................................................................................. 12
Category Data ........................................................................................................................ 13
Table 8 Sales of Baby Food by Category: Volume 2017-2022................................ 13
Table 9 Sales of Baby Food by Category: Value 2017-2022 .................................. 14
Table 10 Sales of Baby Food by Category: % Volume Growth 2017-2022 ............... 14
Table 11 Sales of Baby Food by Category: % Value Growth 2017-2022 .................. 15
Table 12 NBO Company Shares of Baby Food: % Value 2018-2022 ....................... 15
Table 13 LBN Brand Shares of Baby Food: % Value 2019-2022 .............................. 16
Table 14 Forecast Sales of Baby Food by Category: Volume 2022-2027................. 16
Table 15 Forecast Sales of Baby Food by Category: Value 2022-2027.................... 17
Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2022-
2027 ........................................................................................................... 17
Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2022-
2027 ........................................................................................................... 17
DAIRY ........................................................................................................................................ 17
2022 Developments ................................................................................................................ 17
Category Data ........................................................................................................................ 20
Table 18 Sales of Dairy by Category: Volume 2017-2022 ........................................ 20
Table 19 Sales of Dairy by Category: Value 2017-2022 ........................................... 22
© Euromonitor International
DAIRY PRODUCTS AND ALTERNATIVES IN BANGLADESH Passport ii
Table 20 Sales of Dairy by Category: % Volume Growth 2017-2022 ........................ 23

Table 21 Sales of Dairy by Category: % Value Growth 2017-2022 ........................... 23
Table 22 NBO Company Shares of Dairy: % Value 2018-2022 ................................ 24
Table 23 LBN Brand Shares of Dairy: % Value 2019-2022 ....................................... 25
Table 24 Forecast Sales of Dairy by Category: Volume 2022-2027.......................... 25
Table 25 Forecast Sales of Dairy by Category: Value 2022-2027............................. 26
Table 26 Forecast Sales of Dairy by Category: % Volume Growth 2022-2027 ......... 27
Table 27 Forecast Sales of Dairy by Category: % Value Growth 2022-2027 ............ 28
PLANT-BASED DAIRY............................................................................................................... 29
2022 Developments ................................................................................................................ 29
Category Data ........................................................................................................................ 29
Table 28 Sales of Plant-Based Dairy by Category: Volume 2017-2022 .................... 29
Table 29 Sales of Plant-Based Dairy by Category: Value 2017-2022 ....................... 30
Table 30 Sales of Plant-Based Dairy by Category: % Volume Growth 2017-
2022 ........................................................................................................... 30
Table 31 Sales of Plant-Based Dairy by Category: % Value Growth 2017-2022 ...... 30
Table 32 NBO Company Shares of Plant-Based Dairy: % Value 2018-2022 ............ 31
Table 33 LBN Brand Shares of Plant-Based Dairy: % Value 2019-2022 .................. 31
Table 34 Forecast Sales of Plant-Based Dairy by Category: Volume 2022-2027 ..... 31
Table 35 Forecast Sales of Plant-Based Dairy by Category: Value 2022-2027 ........ 31
Table 36 Forecast Sales of Plant-Based Dairy by Category: % Volume Growth
2022-2027 .................................................................................................. 31
Table 37 Forecast Sales of Plant-Based Dairy by Category: % Value Growth
2022-2027 .................................................................................................. 32
DAIRY PRODUCTS AND ALTERNATIVES IN BANGLADESH Passport 1
DAIRY PRODUCTS AND

ALTERNATIVES IN BANGLADESH
EXECUTIVE SUMMARY
The COVID-19 pandemic has hit sales of dairy and alternatives hard, however the situation
has improved drastically in 2022. Now new challenges are being seen due to international
inflation due to the rapidly increasing oil and fuel prices. This is resulting in lower-income
consumers to economise and trade down, while higher-income consumers continue to boost the
demand for dairy products. As a result, dairy products continues to perform well, despite the
many challenges the category has been facing in recent years.
Dairy products and alternatives in 2022: The big picture

▪ After devastating sales declines were seen across all dairy categories in 2020, 2021 saw
sales growth rates rebound substantially as demand returned in all of the most important
distribution channels for such products. In 2022, the situation is ever better and now that the
worst economic impacts of the COVID-19 pandemic have passed, Bangladeshi people are
increasingly prepared to spend money on cheese, cream, butter and other types of dairy
products.
▪ Furthermore, it appears that lessons have been learned after interruptions to international
trade made some very products scarce on retail shelves during 2020 due to their being
imported. Specifically, local manufacturing has increased substantially as many of the brands
which were previously available only as imports are now produced in-country. In addition to
the return to more sustainable levels of trade, the spike seen in consumer interest in
preparing meals at home from scratch and baking a wide range of baked goods at home,
rather than dining out in restaurants and/or buying baked goods from retail stores has boosted
demand across various dairy categories. In particular, economically priced products and those
in smaller pack sizes have become far more widely available as consumer demand has
expanded. However, new product development has suffered as investment has been difficult
to justify it, although the greater focus on health and wellness that has emerged from the
COVID-19 situation has led many of the leading brands in their products to develop marketing
campaigns that claim that products can boost immunity.
▪ In 2022, the demand for dairy products is rising in Bangladesh, despite the ongoing financial
difficulties and inflated prices. In some ways, such a complex economic backdrop is boosting
demand, as consumers are avoiding dining out, and instead are cooking at home, as it is a
much cheaper option.
▪ Baby food continues to perform well despite any financial challenges as parents are not likely
to sacrifice on products for their children. Likewise, as the pandemic has brought about a new
health awareness, parents are now more concerned than ever about their children's health.
However, high prices mean the category continues to appeal mainly to higher-income
consumers.
▪ Unlike in many other countries, the COVID-19 pandemic has not resulted in any major
increase being seen in online sales of dairy products or baby food. E-commerce sales
generally remain very low in Bangladesh, with food and drink e-commerce sales focused
almost entirely on non-perishable items, placing dairy products in particular at a major
disadvantage. Dairy products sales thus tend to be dependent on store-based retail channels
as their perishable nature mean that they have a short shelf life and require the appropriate
refrigerated storage and display facilities.
Country background
▪ While per capita consumption of dairy remains fairly low in Bangladesh, the use of dairy
products in local cuisine is quite diverse. Among the most common uses of dairy products are
drinking cows’ milk as a nutritious beverage or as a key ingredient in traditional sweets.
People also use cheese, cream and butter in the preparation of various popular dishes.
▪ Parents in Bangladesh tend to have positive views on milk formula generally and recently
demand for milk formula and baby food in general has come under pressure as doctors and
government campaigns have sought to motivate parents to avoid packaged baby food in fa
human breast milk. This is regarded as the best way to improve developmental outcomes for
babies and infants, especially in the area of developing a healthy and robust immune system.
▪ There is no specific time of fay for dairy or baby food consumption in Bangladesh. The sheer
diversity of products on offer in the category and the very wide range of purposes for which
these products are used means that any food and dairy products are consumed throughout
the day.
▪ Baby food is normally administered to infants only once they have reached the age of six
months. Around 60% of parents in Bangladesh are still feeding their young children with baby
food after the age of two years old. In some exceptional cases, for instance if the mother is
unable to produce sufficient breast to feed her baby, new born babies will also be fed entirely
or partially with milk formula.
▪ Major demand factors in both baby food and dairy are generally heavily dependent on product
quality and brand reputation, with Nestlé, Milk Vita and Aarong among the most trusted
names. Thus, consumer loyalty is an important factor and has a direct impact on the sales of
specific brands, especially in baby food, where impact of products and brands on the health of
the baby consuming it is considered paramount. Some of the most recognised international
brands in the category have thus been able to engender a strong sense of trust among
consumers by focusing their marketing campaigns heavily on quality, product variety and
convenience, as well as health and wellness aspects. While advertising campaigns tend to
have an impact on consumer choices, although word of mouth remains a very common
source of information about such products.
▪ Most Bangladeshi people eat three meals a day, which includes breakfast, lunch and dinner,
taking breakfast at around 08.00hrs, lunch at around 14.00hrs and dinner at around 22.00hrs.
Some form of dairy products is often eaten with each meal, either as part of a sauce or as an
ingredient in traditional sweets.
▪ Bangladesh has one of the lowest obesity rates in the world, although recent years have seen
an increase in the rate of obesity, in part because of rising incomes and greater food security.
In urban areas the rise in childhood overweight and obesity has been put down to calorie-rich
diets, with children getting used to fast food and sugary soft drinks, and a lack of exercise.
Bangladesh has one of the highest rates of malnutrition, with large sections of the population
chronically underweight. Various aid charities such as UNICEF and the UN’s World Food
Programme (WFP), as well as government-led initiatives, have been working to improve the
situation, and despite remaining high, the rate of malnutrition has fallen. This is in part due to
economic development, job availability, increased foreign remittances and improved
education facilities.
▪ Due to the high cost of health and wellness products, this remains a tiny niche area of the
country’s packaged food industry. Indeed, health and wellness packaged food is affordable
only for middle- and high-income consumers living in major urban areas. Although some
products that could be perceived as healthier options were registering strong sales growth
until 2019 due to growing health awareness, this growth was coming from a very low base.
However, the interruption caused to commercial activity in key sectors of the Bangladeshi
economy since the onset of the COVID-19 pandemic has put the brakes on the development
of health and wellness packaged food. Nevertheless, with spreading urbanisation, rising
incomes and improvements being seen in education levels, health and wellness packaged
food is likely to record positive sales growth over the forecast period. In particular, the high
diabetes rate in Bangladesh is likely to drive demand for free from sugar and BFY reduced
sugar packaged food, including in various dairy categories.
Socioeconomic trends
▪ In 2022, the economy is yet to start recovering from the pandemic, however, businesses have
started to run smoothly once again due to the daily infection rate slowing. However, inflated
prices are now impacting the industry due to the rapidly increasing oil and fuel prices. The
main consumers to be impacted by this are lower to middle-income families, who are now
being forced to economise. Such consumers are now prioritising the most essential products
such as baby food and milk, while upper-income consumers continue to purchase less
essential items such as cheese and butter.
▪ Ft and vegetables, different types of lentils (dal), spices (various masala), potatoes, edible
oils, milk and other dairy products, eggs, baked goods and bread. In urban areas most
households purchase these products either fresh from open markets (other grocery retailers)
or from grocery retailers, while in rural areas a large number of consumers either grow their
own food or exchange produce. In urban areas there is a growing demand for packaged food,
especially among mid- to high-income consumers. Products that are considered essential in
Bangladesh include: Rice, ruti (flatbreads), fish, meat, different types of fresh fruit households.
▪ Bangladesh continues to see strong population growth despite a declining birth rate, with an
improved infant mortality rate and an increased average life expectancy. In the review period,
only 5.2% of the population were aged over 65 years, with 49.9% of the population aged 13-
64 years.
▪ Although Bangladesh’s birth rate continues to decline, sales of baby food have continued to
rise in general, despite interruptions due to the impact of the COVID-19 pandemic. This is due
almost entirely to rising income levels, which has meant higher spending per family and
higher spending per child. However, sales of packaged baby food remain fairly limited due to
the wide popularity of breastfeeding, which is in turn supported by government and NGO-led
initiatives. Furthermore, the high prices charged for milk formula also means that
breastfeeding is the only option available for many low-income families.
▪ Bangladesh’s middle class comprises less than one-quarter of the country’s entire population,
although strong growth is being recorded in the size of the country’s middle class on the back
of a strong long-term economic performance. Factors underpinning this include improved
access to education and training, rising employment rates and rising private sector salaries.
The middle-income population is largely based in major urban areas and although traditional
grocery retailers remains the leading channel for most packaged food products, these
wealthier consumers are increasingly attracted to supermarkets and hypermarkets due to the
wider choice they offer and their more stable storage conditions, a crucial factor for dairy
products in particular.
▪ According to the Bangladesh Investment Development Authority (BIDA), foreign direct
investment (FDI) is set to continue increasing now that the impact of the COVID-19 pandemic
is waning, with a return to the dynamic increases being seen in FDI prior to the onset of the
pandemic expected to prevail during the forecast period. Recent policy reforms and robust
economic growth have helped to encourage FDI, with the government also introducing one-
stop services and improving infrastructure to attract foreign investors. This is likely to spell
good news for the economy and help lead to an increase in incomes and employment.
▪ There is a substantial market in the informal distribution of dairy products in Bangladesh,
among other types of packaged food. Indeed, lower-income consumers living in rural areas
often visit local markets to meet their daily nutritional needs, with local dairy farmers providing
raw milk. A large share of the rural population is involved in agricultural work, which is low
paid, while in urban areas many consumers are employed in industrial work which is much
higher paid. Because of these factors, sales of packaged dairy products are significantly
stronger in urban areas, which have greater access to modern grocery retailers as well as a
wider base of middle- and higher-income consumers. In rural areas meanwhile, sales of
packaged dairy and alternatives are likely to continue facing competition from the unpackaged
and artisanal products that are set to remain widely available .
Logistics/infrastructure
▪ Most consumers still use traditional grocery retailers, outdoor markets and street vendors for
their food shopping, with many lacking access to modern grocery retailers. Even in the capital
city of Dhaka most people still use traditional grocery retailers. Unlike supermarkets and
hypermarkets, these stores do not pay VAT and so are sometimes able to offer lower prices.
Nevertheless, with rapid urbanisation, rising incomes and longer working hours, modern
grocery retailing is likely to become increasingly attractive to Bangladesh’s young, working
population. Modern grocery retailing is likely to see rapid growth over the forecast period as
long as the country continues to see economic expansion, foreign investment, political
stability and reduced corruption, as well as the adoption of new technology and an
improvement in its infrastructure.
▪ Bangladesh’s transport network consists of more than 271,000km of roads, including about
21,000km of major roads, 2,835km of railways and 3,900km of inland waterways (which
increases to 6,000km during the monsoon season). For 12% of rural communities, these
waterways are their only mode of transport. During the rainy season, many rural roads also go
underwater. Additionally, unplanned urbanisation and residential development is increasing
the amount of traffic, which in tandem with other factors, is creating significant congestion on
the country’s roads. Despite investments, Bangladesh’s infrastructure remains inadequate,
which is limiting the reach of manufacturers and retailers, with these transport issues driving
up costs and disrupting the supply chain.
▪ Unfortunately, power outages remain a common occurrence in all parts of Bangladesh. This
has a particularly negative effect on the distribution and storage of dairy products, with
traditional grocery retailers often unable to guarantee that the dairy products they sell have
been stored consistently in refrigerated conditions. Moreover, many poorer families lack
access to refrigeration at home, meaning they must turn to powder milk rather than fresh milk
as it can be stored at ambient temperatures indefinitely. Meanwhile, the more reliable
refrigerated storage and display cabinets that are used in supermarkets and hypermarkets
makes these stores attractive to middle- and higher-income consumers in the country.
▪ Packaged food is available in both urban and rural locations, although sales of some imported
products is limited to major urban areas. Meanwhile, premium products are often only
available in the country’s larger cities such as Dhaka. Consumers increasingly see packaged
food as being of a higher quality than unpackaged alternatives which is helping to drive
demand in both urban and rural areas.
▪ As part of the government’s plans to boost FDI and encourage economic growth, 88
Economic Zones are being established across the country and this will likely result in the
decentralisation of labour to some extent. Although only 38.2% of the total population lived in
urban areas in 2020, strong growth has been seen in the urban population in recent years
and the government moves outlined above to decentralise the workforce have the potential to
stem the flow of urbanisation. This could result in improved distribution of packaged food in
rural areas as the government invests in improved infrastructure, with this likely to be further
boosted by the government’s plans to ensure 100% electrification across the country,
although these plans have faced setbacks due to the COVID-19 pandemic. Once realised, the
100% electrification plan would enable more stores and homes to store chilled dairy products,
among other types of perishable packaged foods, without fear of spoiling.
▪ Some companies such as Pran-Rfl Group, Meghna Group and Akij Food & Beverage Ltd are
also setting up manufacturing facilities and modern equipped warehouses in regional
locations such as Sylhet, Rangpur, and Rajshahi in order to improve temperature-controlled
packaged food supply chains across the country. Furthermore, the government is investing in
energy, infrastructure and digitalisation with the support of Saudi Arabia, Turkey and Qatar,
along with the World Bank and the Asian Infrastructure Investment Bank, among others. All of
this investment should provide a boost to the distribution and sale of packaged food in
Bangladesh.
What next for dairy products and alternatives?

▪ Dairy products and alternatives can be expected to register strong sales growth over the
forecast period as the wider availability of such products in both the retail and foodservice
channels improve access for consumers, while the increasing interest in snacking is also
likely to support increases in demand. Meanwhile is likely to register less robust growth due to
high prices and the general preference for human breast milk. Nevertheless, the increasingly
wide variety of products available in both baby food and dairy can be expected to attract
consumers looking for something different, especially in the area of health and wellness, with
fresher products that promise genuine health benefits likely to develop into the most popular
options.
▪ In 2022, the situation has improved a lot in terms of the COVID-19 pandemic and the industry
will continue recovering over the forecast period, with the worst truly over. However, new
challenges pose a threat to the industry given global inflation due to the rising costs of fuel
and oil. However, this could actually boost demand as consumers increasingly prepare food
more at home rather than eating out.
▪ Demand will also be boosted but the raised health awareness since the pandemic which has
encouraged higher-income consumers to spend more on baby food. Likewise, there is set to
be an increased interest in plant-based dairy products as more consumers look for healthier
alternatives to dairy.
▪ More broadly, with incomes set to continue increasing and with growth expected to be seen in
the size of Bangladesh’s middle-class population during the forecast period, there is strong
potential for growth in sales of dairy and baby food. As a result, many manufacturers are
looking innovate by developing and launching new products, as well as improving distribution
and increasing brand awareness. Furthermore, as mentioned above, urbanisation and
population growth should also continue to support strong growth in dairy and baby food, with
greater foreign investment expected. New Zealand-based dairy exporter Fonterra’s 2018
distribution agreement with ACI Agrolink Limited is an example the types of scene during the
forecast period as rising income levels suggest that dairy will remain among the most dynamic
packaged food categories.
Chart 1 Dairy Products and Alternatives: Traditional Grocery Retailer
Source: Euromonitor International
Chart 2 Dairy Products and Alternatives: Modern Grocery Retailer
Source: Euromonitor International
MARKET DATA
Table 1 Sales of Dairy Products and Alternatives by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
Plant-based Dairy - - - - - -
Dairy 82,652.3 91,064.0 100,315.0 94,421.5 115,857.2 133,296.5
Baby Food 6,309.0 6,627.5 7,279.2 7,507.7 8,361.7 11,413.1
Dairy Products and 88,961.3 97,691.5 107,594.2 101,929.2 124,219.0 144,709.6
Alternatives
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Dairy Products and Alternatives by Category: % Value Growth 2017-
2022
% current value growth

2021/22 2017-22 CAGR 2017/22 Total
Plant-based Dairy - - -
Dairy 15.1 10.0 61.3
Baby Food 36.5 12.6 80.9
Dairy Products and Alternatives 16.5 10.2 62.7
Table 3 NBO Company Shares of Dairy Products and Alternatives: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Bangladesh Milk 34.0 34.5 34.7 35.4 35.2

Producers Co-Operative
Union Ltd
BRAC social enterprise 14.3 14.5 14.5 14.9 14.9
Pran Foods Ltd 7.2 7.3 7.3 7.5 7.6
Akij Food & Beverage Ltd 6.0 6.2 6.2 6.3 6.3
Nestlé Bangladesh Ltd 3.7 3.7 4.1 3.8 4.4
Baby Nutrition Ltd 0.6 0.6 0.7 0.6 0.8
Others 34.2 33.3 32.4 31.4 30.9
Total 100.0 100.0 100.0 100.0 100.0
Table 4 LBN Brand Shares of Dairy Products and Alternatives: % Value 2019-2022
% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022
Milk Vita Bangladesh Milk 34.5 34.7 35.4 35.2

Union Ltd
Aarong BRAC social enterprise 14.5 14.5 14.9 14.9
Pran (Pran-Rfl Group) Pran Foods Ltd 7.3 7.3 7.5 7.6
Farm Fresh Akij Food & Beverage Ltd 6.2 6.2 6.3 6.3
Cerelac (Nestlé SA) Nestlé Bangladesh Ltd 1.7 1.8 1.6 1.9
Lactogen (Nestlé SA) Nestlé Bangladesh Ltd 1.5 1.7 1.6 1.9
Eldobaby Baby Nutrition Ltd 0.6 0.7 0.6 0.8
Nido (Nestlé SA) Nestlé Bangladesh Ltd 0.5 0.6 0.5 0.6
Others Others 33.3 32.4 31.4 30.9
Total Total 100.0 100.0 100.0 100.0
Table 5 Distribution of Dairy Products and Alternatives by Format: % Value 2017-2022
% retail value rsp

2017 2018 2019 2020 2021 2022
Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 100.0 100.0 100.0 100.0 100.0 100.0
-- Grocery Retailers 94.0 94.1 94.1 94.0 94.1 94.2
--- Convenience Retail 17.0 17.1 17.1 16.8 16.9 17.3
---- Convenience Stores 10.7 10.7 10.7 10.9 10.9 11.1
---- Forecourt Retailers 6.3 6.3 6.3 6.0 5.9 6.2
--- Supermarkets 20.8 20.9 21.0 21.3 21.4 21.5
--- Hypermarkets 15.6 15.7 15.9 16.2 16.2 16.3
--- Discounters - - - - - -
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco - - - - - -
specialists
--- Small Local Grocers 40.7 40.4 40.1 39.7 39.7 39.2
-- Non-Grocery Retailers 6.0 5.9 5.9 6.0 5.9 5.8
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty 6.0 5.9 5.9 6.0 5.9 5.8
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - - 0.0 - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 6 Forecast Sales of Dairy Products and Alternatives by Category: Value 2022-
2027
BDT million
2022 2023 2024 2025 2026 2027
Dairy 133,296.5 122,343.3 119,874.0 122,891.4 125,797.9 128,455.8
Baby Food 11,413.1 9,600.3 8,600.3 8,823.1 9,037.5 9,245.2
Dairy Products and 144,709.6 131,943.5 128,474.3 131,714.5 134,835.4 137,701.1
Alternatives
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 7 Forecast Sales of Dairy Products and Alternatives by Category: % Value Growth
2022-2027
% constant value growth

2022/2023 2022-27 CAGR 2022/27 Total
Dairy -8.2 -0.7 -3.6
Baby Food -15.9 -4.1 -19.0
Dairy Products and Alternatives -8.8 -1.0 -4.8
trade sources
DISCLAIMER
Forecast and scenario closing date: 1 August 2022
Report closing date: 16 August 2022

Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2022 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.
Market sizes are researched at category level, lower data levels are modelled.
BABY FOOD
2022 Developments
▪ The main impact of the COVID-19 pandemic on sales of baby food in Bangladesh during
2020 and 2021 was the disruption that was caused to the supply of baby food supply. This
refers both to the interruptions caused to international supply chains as well as the challenges
that distributors faced getting their products into the shopping baskets of customers during the
various quarantine lockdowns that have been imposed upon the population of Bangladesh at
various points since the onset of the COVID-19 pandemic. However, in 2022, the situation is
improving greatly.
▪ Baby food continues to perform well despite any financial upheaval as parents are not likely to
sacrifice on products for their infants. However, price hikes are becoming a serious problem
due to the rapidly increasing oil and fuel prices. As a result, raw cow milk prices have
increased around 30-40%. This is putting extra pressure on lower-income families who
require milk formula for health reasons. The consumer base for milk formula is split into two
sections: those that are using such products because for whatever reason breast milk is not
enough, this applies to a wide range of income families. The other group is higher income
earners who chose to use milk formula, but not out of necessity. In a bid to combat the rising
price, some players have launched smaller pack sizes to allow lower-income families to afford
such products.
▪ The general preference for breastfeeding continues to present challenges to baby food
companies operating in Bangladesh. In addition to the widely held view among local women
that breastfeeding is the ultimate source of nutrition for their babies, infants and young
children, many doctors and other healthcare professionals go to great lengths to impress
upon mothers the importance of breastfeeding their babies and infants. The government is
also involved in campaigns designed to encourage breastfeeding, with many women thus
heavily focused on human breastmilk as the primary source of food for their babies and
infants.
▪ Demand for packaged baby food is low generally, which has traditionally discouraged many
brands from operating in the country, with some international brands having previously been
withdrawn from sale in Bangladesh. However, messages have seen an increase in the variety
of dried baby food and milk formula available in the country as numerous brands have
entered validation in an effort to tap into rising demand. These include Gerber Cereal, Fasska
Special Formula and Cow & Gate. The main reason for the low demand for baby food
generally is that these products remain too expensive for most low-income consumers and
therefore sales are mainly limited to mid- to high-income consumers. Urban areas also
account for the bulk of sales, with the low-income levels in rural areas resulting in low demand
and also limited rural distribution.
▪ While the birth rate remains high in Bangladesh, it dropped rapidly during the review period,
falling from 19.2 births/1,000 population in 2015 to 17.5 births/1,000 population. This trend
can be linked to easier access to contraceptives and growing awareness of family planning
stimulated by the presence of NGO staff in the country. The drop was particularly strong
among urban low-income slum households, with this also linked to overcrowding in many
homes. An expanding mid-income group and improving job prospects for many women is also
resulting in many starting families later, while a growing number view two children as the ideal
number. As a result of these trends, the size of the population aged up to 24 months old
declined over the course of the review period.
▪ As mentioned above, baby food sales are hindered by the popularity of breastfeeding, with
mothers of all income groups viewing breastfeeding as optimum for infant health.
Breastfeeding is also supported by the leading players in baby food, such as Nestlé, while its
healthy kids development programme in schools is designed to promote its baby products.
While complementary foods are often used alongside breastfeeding in the first few months
after birth, these are more likely to be milk, honey or sugared water than milk formula. When
children begin to be weaned onto solid food after age six months, home-made dishes are also
preferred due to their lower cost and traditional appeal. These include khichuri (rice cooked
with lentils and oil), bhaat dal (rice and lentils cooked separately), suji (wheat or rice flour with
sugar), plain rice and puffed rice.
▪ There is a strong government focus on encouraging breastfeeding, with this supported by a
number of NGO initiatives and driven by concerns over high infant mortality and malnutrition.
Breastfeeding is also promoted by BBF (Bangladesh Breastfeeding Foundation), which is a
non-profit organisation that has been operational since 1989 and continues its extensive
initiatives to promote breastfeeding with the support of the government. Other organisations
are also focused on this area, with BetterWork's Mothers@Work initiative for example
supporting maternity and breastfeeding rights for workers in the garment industry.
▪ Dried baby food continues to account re-portion of baby food sales in Bangladesh. Baby
cereal is viewed as an affordable and convenient alternative or complementary product to
home-made meals and is benefiting from rising disposable income levels, especially in urban
areas. Powder standard milk formula is less popular than follow-on milk formula, due to a
preference for breastfeeding in the first few months of life. However, milk formula is growing in
popularity as disposable income levels rise, with this enabling more mothers to afford these
products if they are unable to breastfeed. Furthermore, consumers who can afford to are
trading up as they go in search of higher-quality and more nutritious options.
▪ Recent years have seen some product recalls in baby food and this has compromised the
reputation of the entire category to some extent. For instance, during 2019, the Bangladesh
Food Safety Authority (BFSA) ordered the withdrawal of all baby food products manufactured
by French dairy group Lactalis from the country's market due to concerns over the potential
for bacterial contamination. The brands affected included Baby Care-3, Baby Care-4 and
Babycare MF. Nestlé also recalled a batch of its Alfamino amino acid specialist infant formula
in Germany due to a substantially increased dose of minerals that could potentially make
children sick. Such global bad publicity made parents in Bangladesh, among other countries,
afraid to buy baby food products, with such scares having a significant impact on category
growth and consumer trust.
▪ Nestlé SA remains the outright leading player in baby food and this is mainly due to the strong
reputation of the company's Cerelac brand in dried baby food and Lactogen brand in milk
formula. Each of these brands is regarded by many to be inherently high-quality options. As a
result, both of these brands continue to benefit from consumers trading up to Nestlé brands
as their income levels rise, although this trend is confined mainly to affluent urban-dwellers.
▪ Baby Nutrition is a strong domestic player, with its Eldobaby range of milk formula becoming
increasingly popular. However, many consumers tend to view domestic brands as being of
inherently lower quality than international rivals, with mid- to high-income consumers often
having a clear preference for established global brands, especially given the rising health
consciousness in the country. However, Eldobaby aims to reassure these consumers by
highlighting its Swiss production on its packaging, as the brand is produced for Baby Nutrition
by Swiss company Hochdorf.
▪ One of the more recent entrants to baby food is Vietnamese company Vietnam Dairy
Products JSC (Vinamilk), which began offering a range of milk formula and infant cereal within
dried baby food during the early stages of the review period. The Vinamilk range of baby food
is represented in Bangladesh by local distributor Bigbiz and all of the brand’s products are
available via both traditional and modern grocery retailers, although distribution is limited to
major urban areas such as Dhaka. The company’s brands include Dielac and they benefit
from low prices in comparison with the equivalent products offered by Nestlé, although it is
likely that the company will continue to struggle to attract significant numbers of mid- to high-
income consumers and this is because this consumer group is likely to continue preferring
well-known global brands.
▪ There remains legislation in place in Bangladesh which bans any and all advertising for baby
food targeted at children aged under five years old. This legislation also covers indirect
marketing and medical sponsorship. However, the government is yet to fully implement this
law fully, despite the pressure coming from campaign groups to do so.
▪ In Bangladesh, baby food is widely distributed via both modern and traditional grocery
retailers, as well as via health and beauty specialist retailers. However, distribution continues
to shift towards modern grocery retailers, with supermarkets winning further value share over
the course of the review period as consumers placed greater trust in the quality and safety of
the baby food on offer on the shelves of such retail outlets. Supermarkets and hypermarkets
also tend to offer a wider range of options, which is greatly appreciated by mid- to high-
income urban-dwellers. The distribution of baby food is much more limited in rural areas due
to low-income levels, with many unable to afford packaged baby food. However, distribution
channels are extending their reach to these remote rural areas through a combination of
advertising strategies and ongoing digitalisation in the country.
Prospects and Opportunities

▪ Generally speaking, during the forecast period sales growth in baby food will likely be
supported by urbanisation, with the core consumer base of these products to continue
spending. Nevertheless, sales growth is set to continue being hindered by the general
preference for breastfeeding and home-made prepared baby food among the general
population, as well as the potential knock-on effects of still fairly recent baby food
contamination scandals. Sales growth is also set to continue being constrained by the
ongoing declines being seen in the country’s birth rate, with the size of the population aged up
to 24 months projected to contract further. Despite these underlying constraints on sales
growth, baby food is still expected to achieve solid growth as consumers trade up to trusted
global brands in line with rising disposable income levels. This trend will likely be particularly
strong in dried baby food, which is likely to remain a particularly popular category. However,
favourable background trends should also be of benefit to milk formula, particularly growing-
up milk formula, as some parents seek optimum nutrition for their babies and infants at this
crucial stage of development.
▪ Other challenges that are likely to place constraints on sales growth in baby food during the
forecast period include unit price inflation, partially as a result of the increased oil and fuel
prices, and government policy. Specific, the government of Bangladesh has adopted an
increasingly hostile to towards milk formula, with breastfeeding set to continue being
promoted as the ultimate in infant nutrition. Indeed, all milk formula sold in Bangladesh must
now bear the slogan “There is no alternative to breastfeeding” clearly on the front of each
pack. Moreover, the government is now planning to roll out such slogans for the packaging of
all baby food. This can be inspected to influence baby food choices among parents during the
forecast period.
▪ Nestlé can be expected to continue leading sales of baby food during the forecast period.
Indeed, the international consumer goods giant is currently strongly focused on developing
products that respond directly to the wants and needs of Bangladeshi people, while it is
looking into health and wellness as a way of supporting demand. Over the forecast period, the
player is also set to continue expanding due to its new factory setup in Bangladesh. The
player plans to increase its investment in the coming years and expand their production line. If
all goes to plan, Bangladesh will become a manufacturing hub for exports. Local
manufacturing would also mean prices would decrease within Bangladesh which will benefit
local consumers.
▪ After little innovation was seen in baby food during the COVID-19 pandemic, the forecast
period is expected to various new players enter the category, as well as a proliferation of new
products. Furthermore, a more diverse range of pack sizes is likely to be seen, with
companies looking to appeal to low-income consumers with small pack sizes at low retail
selling prices while simultaneously seeking to appeal to more affluent consumers by offering
bulk packaging formats with lower unit prices.
▪ Organic baby food is set to become more popular over the forecast period, especially among
middle to high-income consumers. The pandemic has raised overall health awareness, and
this will naturally include parents and their children. Meanwhile, other baby food and prepared
baby food will remain unpopular, especially as they use lots of preservatives and parents are
keen to feed their baby fresh and natural food.
Category Data
Table 8 Sales of Baby Food by Category: Volume 2017-2022
2017 2018 2019 2020 2021 2022
-- Powder Special Baby - - - - - -

Milk Formula ('000
tonnes)
-- Liquid Special Baby - - - - - -
Milk Formula (million
litres)
- Special Baby Milk - - - - - -
Formula (Not calculable)
-- Powder Growing-Up 1.1 1.1 1.2 1.0 1.1 1.1
Milk Formula ('000
tonnes)
-- Liquid Growing-Up - - - - - -
litres)
- Growing-Up Milk - - - - - -
-- Powder Follow-on 2.4 2.5 2.7 2.4 2.6 2.4
Milk Formula ('000
tonnes)
-- Liquid Follow-on - - - - - -
litres)
- Follow-on Milk - - - - - -
-- Powder Standard Milk 2.2 2.2 2.3 2.2 2.3 2.1
Formula ('000 tonnes)
-- Liquid Standard Milk - - - - - -
Formula (million litres)
- Standard Milk Formula - - - - - -
(Not calculable)
Milk Formula (Not - - - - - -
calculable)
Other Baby Food ('000 - - - - - -
tonnes)
Prepared Baby Food - - - - - -
('000 tonnes)
Dried Baby Food ('000 2.4 2.1 2.2 1.8 2.1 1.8
tonnes)
Baby Food (Not - - - - - -
calculable)
Table 9 Sales of Baby Food by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022

Milk Formula
Milk Formula
Formula
-- Powder Growing-Up 757.3 840.6 932.3 923.0 1,043.0 1,481.1
Milk Formula
Milk Formula
- Growing-Up Milk Formula 757.3 840.6 932.3 923.0 1,043.0 1,481.1
-- Powder Follow-on 1,962.1 2,177.1 2,408.7 2,529.2 2,782.1 3,894.9
Milk Formula
Milk Formula
- Follow-on Milk Formula 1,962.1 2,177.1 2,408.7 2,529.2 2,782.1 3,894.9
-- Powder Standard Milk 1,689.1 1,882.8 2,095.2 2,304.7 2,558.2 3,504.8
Formula
Formula
- Standard Milk Formula 1,689.1 1,882.8 2,095.2 2,304.7 2,558.2 3,504.8
Milk Formula 4,408.4 4,900.4 5,436.2 5,756.9 6,383.3 8,880.7
Other Baby Food - - - - - -
Dried Baby Food 1,900.6 1,727.0 1,843.0 1,750.8 1,978.4 2,532.4
Baby Food 6,309.0 6,627.5 7,279.2 7,507.7 8,361.7 11,413.1
Table 10 Sales of Baby Food by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
-- Powder Special Baby Milk Formula - - -

-- Liquid Special Baby Milk Formula - - -
- Special Baby Milk Formula - - -
-- Powder Growing-Up Milk Formula -4.0 0.4 2.0
-- Liquid Growing-Up Milk Formula - - -
- Growing-Up Milk Formula - - -
-- Powder Follow-on Milk Formula -6.0 0.0 -0.2
-- Liquid Follow-on Milk Formula - - -
- Follow-on Milk Formula - - -
-- Powder Standard Milk Formula -8.0 -0.5 -2.3
-- Liquid Standard Milk Formula - - -
- Standard Milk Formula - - -
Milk Formula - - -
Other Baby Food - - -
Prepared Baby Food - - -
Dried Baby Food -12.0 -5.4 -24.4
Baby Food - - -
Table 11 Sales of Baby Food by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total
-- Powder Special Baby Milk Formula - - -

-- Liquid Special Baby Milk Formula - - -
- Special Baby Milk Formula - - -
-- Powder Growing-Up Milk Formula 42.0 14.4 95.6
-- Liquid Growing-Up Milk Formula - - -
- Growing-Up Milk Formula 42.0 14.4 95.6
-- Powder Follow-on Milk Formula 40.0 14.7 98.5
-- Liquid Follow-on Milk Formula - - -
- Follow-on Milk Formula 40.0 14.7 98.5
-- Powder Standard Milk Formula 37.0 15.7 107.5
-- Liquid Standard Milk Formula - - -
- Standard Milk Formula 37.0 15.7 107.5
Milk Formula 39.1 15.0 101.4
Other Baby Food - - -
Prepared Baby Food - - -
Dried Baby Food 28.0 5.9 33.2
Baby Food 36.5 12.6 80.9
Table 12 NBO Company Shares of Baby Food: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Nestlé Bangladesh Ltd 54.6 55.0 55.8 55.8 55.8

Baby Nutrition Ltd 9.2 9.3 9.4 9.5 9.6
Others 36.2 35.7 34.8 34.7 34.6
Total 100.0 100.0 100.0 100.0 100.0

Table 13 LBN Brand Shares of Baby Food: % Value 2019-2022
% retail value rsp

Cerelac (Nestlé SA) Nestlé Bangladesh Ltd 24.5 24.3 24.2 24.0
Lactogen (Nestlé SA) Nestlé Bangladesh Ltd 22.5 23.5 23.6 23.7
Eldobaby Baby Nutrition Ltd 9.3 9.4 9.5 9.6
Nido (Nestlé SA) Nestlé Bangladesh Ltd 8.0 8.0 8.0 8.1
Others Others 35.7 34.8 34.7 34.6
Total Total 100.0 100.0 100.0 100.0
Table 14 Forecast Sales of Baby Food by Category: Volume 2022-2027
2022 2023 2024 2025 2026 2027

Milk Formula ('000
tonnes)
litres)
-- Powder Growing-Up 1.1 1.2 1.2 1.3 1.3 1.4
Milk Formula ('000
tonnes)
litres)
- Growing-Up Milk - - - - - -
-- Powder Follow-on 2.4 2.6 2.7 2.8 2.9 3.0
Milk Formula ('000
tonnes)
litres)
- Follow-on Milk - - - - - -
-- Powder Standard Milk 2.1 2.3 2.4 2.5 2.6 2.6
Formula ('000 tonnes)
Formula (million litres)
- Standard Milk Formula - - - - - -
(Not calculable)
Milk Formula (Not - - - - - -
calculable)
Other Baby Food ('000 - - - - - -
tonnes)
('000 tonnes)
Dried Baby Food ('000 1.8 2.1 2.1 2.1 2.2 2.2
tonnes)
Baby Food (Not - - - - - -
calculable)
trade sources
Table 15 Forecast Sales of Baby Food by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026 2027
Dried Baby Food 2,532.4 2,228.5 1,965.9 1,973.8 1,979.7 1,983.6

trade sources
Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-27 CAGR 2022/27 Total
Dried Baby Food 14.0 4.2 22.7

trade sources
Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2022-2027

2022/2023 2022-27 CAGR 2022/27 Total
Dried Baby Food -12.0 -4.8 -21.7

trade sources
DAIRY
2022 Developments
▪ Significant slumps were seen in demand for a variety of dairy products during 2020 as the
impact of the COVID-19 pandemic began to bite. Interruptions to the supply of imported
products and raw ingredients, interruptions to commercial activity in key sectors of the global
and local economies and the strict approach taken to social distancing and home seclusion all
played a role, with annual sales down and unit prices up across all dairy categories over the
course of the year.
▪ However, 2021 and 2022 has seen Bangladesh’s local dairy production industry bounce back
strongly, with normal trading and pricing conditions in place by the second quarter of the year
as demand returned to pre-COVID-19 levels in drinking milk products, among other dairy
categories. While foodservice sales of dairy were particularly hard hit during 2020, retail sales
were less actively affected. Moreover, the strong increases that are being seen in the use of
dairy during industrial processes by a wide range of food producers supported a strong
performance for the industrial supply of dairy throughout the COVID-19 situation.
▪ Although the COVID-19 pandemic continues to present stiff challenges to all players present
in dairy in Bangladesh, this did not discourage India-based dairy company Amul from entering
the country during 2020. The new player is particularly strong in drinking milk products, and it
is expected to launch a wider variety of dairy products in due course.
▪ While dairy per capita consumption in Bangladesh remains low in comparison to many
countries in the region, consumption continues to rise rapidly, with demand consistently
outstripping the domestic supply. Dairy is widely viewed as a category product that are
inherently healthy and nutritious, with rising disposable income levels thus encouraging
stronger spending in this area. Fresh milk in particular benefits from a nutritious image,
although many low-income consumers turn to powder milk if they cannot afford or access
fresh milk.
▪ Powder milk benefits from Bangladesh's duty-free trade agreement with New Zealand, with
powder milk accounting for 90% of its imports into Bangladesh. Powder milk is thus available
at low prices, which is a cause for ongoing concern among domestic farmers, companies and
associations within the country’s dairy industry. Powder milk benefits from its ambient storage,
with power outages common and many low-income consumers lacking access to refrigeration
appliances.
▪ Sales of packaged dairy continue to face strong competition from widespread informal sales.
Raw milk production is dominated by farmers with just one or two cows, producing milk mainly
for household consumption, with the remainder sold informally to neighbours or at local
markets.
▪ Towards the end of the review period, the National Dairy Development Forum was launched
through an initiative by Oxfam Bangladesh. This was intended to mitigate the challenges and
gaps in the dairy sector in Bangladesh with such initiatives likely to boost dairy sales.
Moreover, towards the end of 2018, the government signed a financing agreement worth
USD500 million with the World Bank to improve livestock and dairy production and to provide
better market access to millions of household farmers. The ensuing Livestock and Dairy
Development Project should help stimulate private sector investment and enhance the
availability of dairy in the country.
▪ In another initiative, BRAC sociable enterprise purchased a number of Rapid Milk Chillers
from Promethean Power Systems. This prevents milk spoilage when the company collects
milk in rural areas and brings more small dairy farmers into its network. BRAC collects milk
from over 100 village hubs and accesses supplies from over 50,000 dairy farmers. In addition,
US dairy cooperative Land O'Lakes and USDA (US Department of Agriculture) operate the
BDEP (Bangladesh Dairy Enhancement Programme), with this also investing in village milk
collection hubs and working with leading dairy players Milk Vita, BRAC, Pran Foods and Iglo
Milk. Pran also benefits from its partnership with Tetra Pak, with it also operating rural milk
collection centres.
▪ Both semi skimmed and full fat fresh milk are popular in Bangladesh, with the former
attracting a growing number of consumers keen to lose weight. Obesity rates are rising in the
country, which is creating growing concern. However, many others view full fat milk as
healthier and more nutritious. It is also notable that raw milk prices are set based on fat
content, with farmers thus focused on maximising the fat content of their produce. Full fat milk
is also popular as it can be used to make paneer cheese or rich yoghurt at home.
▪ Cheese is becoming increasingly popular in Bangladesh due to the increase in fast food
eating habits and influence from the West. Especially as it becomes more pricier to dine out,
consumers are keen to recreate dishes using cheese in their homes, which is boosting
demand. Nonetheless, demand remains limited to upper-income consumers as unit prices are
usually high.
▪ Yoghurt and sour milk products are not popular. These products are considered prohibitively
expensive by many and thus face strong competition from home-made and informally sold
alternatives. Many households make their own traditional paneer using fresh milk and lemon
juice, with this regarded as tastier and fresher than packaged products that contain
preservatives. Home-made yoghurt is also popular and is used to make traditional fruit
flavoured lassi drinking yoghurt. Paneer, yoghurt and lassi are all also available in an
unpackaged fresh form from bakeries and market stalls.
▪ Nevertheless, packaged plain yoghurt is growing in popularity, being viewed as offering higher
quality and safety while also benefiting from busier lifestyles and rising income levels. Sales
are also benefiting from the entry of new players. For example, drinking yoghurt was recently
launched by Vietnam Dairy Products JSC (Vinamilk), with this player also beginning to offer
fresh milk in the country.
▪ Cooking fats are popular in Bangladesh, due to a strong tradition for ghee. Ghee has a
healthy and nutritious image and is affordable to most households. Butter is considerably
more expensive and has a narrower appeal, particularly as it spoils at warm temperatures.
However, an expanding mid-income group is resulting in greater interest in butter, which has
a premium and indulgent image.
▪ Bangladesh Milk Producers Co-Operative Union Ltd is the strong leader in dairy. This
government-owned cooperative offers the iconic Milk Vita brand. However, this organisation
faced challenges during the review period, with repeated charges of corruption linked to
ongoing losses. Early in the review period, Milk Vita benefited from launching a wider range of
value-added products, including chocolate-flavoured milk drinks and flavoured yoghurt. The
company also benefits from its focus on quality and effective pasteurisation, which sets it
apart from many smaller players. Nevertheless, it continued to face issues throughout the
review period as local dairy farmers were dumping much of their milk stock due to a lingering
dispute over the collection of their milk, with Milk Vita claiming they were not meeting an
acceptable quality standard or the required quotas.
▪ Independent small grocers is the leading retail channel for sales of packaged dairy and this is
due mainly to the proximity of these stores to the homes of many consumers and the
dominance of the channel in impulse purchases, particularly in powder milk. However,
supermarkets and hypermarkets are also significant distribution channels for dairy products
and they continue to win share, with these outlets appealing to many mid- to high-income
consumers due to their wider range and effective temperature controlled storage, thus
ensuring good product quality.

▪ The forecast period is expected to see further positive sales growth for dairy in Bangladesh as
the national dairy industry is set to continue attracting growing investment from overseas, with
the aim of modernising and revolutionising the manufacture and supply of dairy products
throughout the country. Domestic production is set to soar, while the quality of products
should also continue to improve. Moreover, ongoing urbanisation are set to expand the core
consumer base for packaged dairy, with many more some consumers likely to be able to
spend more on dairy, trading up to higher-quality, value-added products offered under leading
brands. Furthermore, widening distribution and the spread of modern retailing can also be
expected to provide ample support for sales growth across dairy.
▪ Fresh milk is set to remain a particularly popular dairy category, while many smaller niche
categories are expected to benefit from widening availability and increased interest in
products such as processed cheese, flavoured milk drinks and plain yoghurt.
▪ As mentioned above, it is likely that further increases will be seen in international investment
in Bangladesh's dairy industry during the forecast period. New Zealand company Fonterra for
instance is investing in the category in an attempt to modernise the national dairy industry and
ensure the widespread availability of high-quality fresh dairy products across Bangladesh.
Thanks to its work in collaboration with the government, it seems likely that Fonterra’s
partnership with Bangladesh Milk Producers Co-Operative Union could result in further
improvements in the company's position in the country during the forecast period.
▪ Dairy alternatives are becoming increasingly popular and this is likely to become a major
trend during the forecast. Indeed, the technology to manufacture soy-based dairy alternatives
is already present in Bangladesh and there are even many small farmers and small-scale
manufacturers that are acquiring the machinery needed to manufacture and package dairy
alternatives, raising the prospect of a significant widening of the range of products on offer in
the category over the forecast period.
▪ Finally, one of the social trends likely to be most favourable for sales of dairy during the
forecast period is the increasingly diverse range of food that is being consumed by
Bangladesh’s urban middle-class. Westernisation, the proliferation of more exotic foodservice
options and greater exposure to global food trends via online channels, especially social
media, have all led to affluent Bangladeshi people becoming increasingly aware of a much
wider range of food and beverage options. Crucially, during the forecast period this is likely to
underpin a newfound interest in a wide variety of dairy products that have traditionally not
been popular among the population of Bangladesh until now.
Category Data
Table 18 Sales of Dairy by Category: Volume 2017-2022
2017 2018 2019 2020 2021 2022
-- Savoury Fromage - - - - - -
Frais and Quark ('000
tonnes)
-- Plain Fromage Frais - - - - - -
and Quark ('000 tonnes)
-- Flavoured Fromage - - - - - -
tonnes)
- Fromage Frais and - - - - - -
Quark ('000 tonnes)
- Cream ('000 tonnes) - - - - - -
-- Evaporated Milk - - - - - -
(million litres)
-- Condensed Milk 5.8 5.8 5.9 5.6 5.8 5.9
(million litres)
- Condensed and 5.8 5.8 5.9 5.6 5.8 5.9
Evaporated Milk
(million litres)
- Coffee Whiteners 4.3 4.3 4.4 3.8 4.2 3.6
('000 tonnes)
- Chilled Snacks ('000 - - - - - -
tonnes)
-- Shelf Stable Dairy - - - - - -
Desserts ('000 tonnes)

-- Chilled Dairy - - - - - -
- Chilled and Shelf - - - - - -
Stable Desserts ('000
tonnes)
Other Dairy (Not - - - - - -
calculable)
-- Plain Yoghurt ('000 3.9 4.4 4.9 4.0 4.6 4.1
tonnes)
-- Flavoured Yoghurt - - - - - -
('000 tonnes)
-- Drinking Yoghurt - - - - - -
(million litres)
- Yoghurt (Not - - - - - -
calculable)
- Sour Milk Products - - - - - -
(million litres)
Yoghurt and Sour Milk - - - - - -
Products (Not calculable)
- Powder Milk ('000 3.6 3.7 3.7 3.0 3.5 3.5
tonnes)
-- Goat Milk (million - - - - - -
litres)
-- Cow's Milk (million 831.2 870.0 908.4 835.3 895.8 847.3
litres)
- Milk (million litres) 831.2 870.0 908.4 835.3 895.8 847.3
-- Flavoured Milk - - - - - -
Drinks with Fruit Juice
(million litres)
-- Dairy Only Flavoured 11.6 13.3 15.1 12.9 14.4 13.6
Milk Drinks (million
litres)
- Flavoured Milk Drinks 11.6 13.3 15.1 12.9 14.4 13.6
(million litres)
Drinking Milk Products - - - - - -
(Not calculable)
- Soft Cheese ('000 - - - - - -
tonnes)
-- Unpackaged Hard - - - - - -
Cheese ('000 tonnes)
-- Packaged Hard Cheese - - - - - -
('000 tonnes)
- Hard Cheese ('000 - - - - - -
tonnes)
- Processed Cheese excl 4.1 4.5 5.1 4.1 4.8 5.0
Spreadable ('000 tonnes)
- Spreadable Cheese 4.8 5.5 6.3 5.0 5.9 6.1
('000 tonnes)
Cheese ('000 tonnes) 8.9 10.1 11.4 9.1 10.8 11.1
- Margarine and Spreads - - - - - -
('000 tonnes)
- Cooking Fats ('000 16.4 16.6 16.9 16.0 16.7 16.9
tonnes)
- Butter ('000 tonnes) 5.4 5.7 6.0 5.0 5.7 6.1
Butter and Spreads 21.8 22.3 22.9 21.1 22.4 23.1
('000 tonnes)
Dairy (Not calculable) - - - - - -
Table 19 Sales of Dairy by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
Frais and Quark
and Quark
Frais and Quark
- Fromage Frais and Quark - - - - - -
- Cream - - - - - -
-- Condensed Milk 855.8 902.3 954.3 944.4 1,048.3 1,180.2
- Condensed and 855.8 902.3 954.3 944.4 1,048.3 1,180.2
Evaporated Milk
- Coffee Whiteners 1,120.5 1,187.7 1,253.6 1,149.2 1,373.3 1,418.8
- Chilled Snacks - - - - - -
Desserts
-- Chilled Dairy Desserts - - - - - -
Stable Desserts
Other Dairy 1,976.2 2,090.0 2,207.9 2,093.6 2,421.6 2,599.0
-- Plain Yoghurt 358.5 419.5 487.5 421.9 569.5 633.6
- Yoghurt 358.5 419.5 487.5 421.9 569.5 633.6
Yoghurt and Sour Milk 358.5 419.5 487.5 421.9 569.5 633.6
Products
- Powder Milk 1,794.5 1,900.4 2,017.9 1,677.7 2,080.3 2,370.9
-- Goat Milk - - - - - -
-- Cow's Milk 52,136.0 57,169.6 62,591.8 59,885.6 72,372.5 79,471.8
- Milk 52,136.0 57,169.6 62,591.8 59,885.6 72,372.5 79,471.8
-- Dairy Only Flavoured 881.6 1,049.1 1,241.5 1,103.2 1,378.9 1,503.1
Milk Drinks
- Flavoured Milk Drinks 881.6 1,049.1 1,241.5 1,103.2 1,378.9 1,503.1
Drinking Milk Products 54,812.1 60,119.2 65,851.2 62,666.4 75,831.7 83,345.7
- Soft Cheese - - - - - -
-- Unpackaged Hard Cheese - - - - - -
- Hard Cheese - - - - - -
- Processed Cheese excl 4,191.1 5,029.3 6,004.5 5,176.0 6,653.4 7,561.9
Spreadable
- Spreadable Cheese 3,963.3 4,855.1 5,914.5 5,032.7 6,545.3 7,865.1
Cheese 8,154.4 9,884.4 11,919.0 10,208.7 13,198.7 15,427.0
- Cooking Fats 13,195.9 13,855.7 14,566.1 14,329.2 17,911.4 23,993.5
- Butter 4,155.2 4,695.4 5,283.4 4,701.8 5,924.3 7,297.7
Butter and Spreads 17,351.1 18,551.0 19,849.5 19,031.0 23,835.7 31,291.2
Dairy 82,652.3 91,064.0 100,315.0 94,421.5 115,857.2 133,296.5
Table 20 Sales of Dairy by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
-- Savoury Fromage Frais and Quark - - -

-- Plain Fromage Frais and Quark - - -
-- Flavoured Fromage Frais and Quark - - -
- Fromage Frais and Quark - - -
- Cream - - -
-- Evaporated Milk - - -
-- Condensed Milk 1.5 0.5 2.8
- Condensed and Evaporated Milk 1.5 0.5 2.8
- Coffee Whiteners -14.0 -3.1 -14.4
- Chilled Snacks - - -
-- Shelf Stable Dairy Desserts - - -
-- Chilled Dairy Desserts - - -
- Chilled and Shelf Stable Desserts - - -
Other Dairy - - -
-- Plain Yoghurt -12.0 0.9 4.7
-- Flavoured Yoghurt - - -
-- Drinking Yoghurt - - -
- Yoghurt - - -
- Sour Milk Products - - -
Yoghurt and Sour Milk Products - - -
- Powder Milk 2.0 -0.5 -2.3
-- Goat Milk - - -
-- Cow's Milk -5.4 0.4 1.9
- Milk -5.4 0.4 1.9
-- Flavoured Milk Drinks with Fruit - - -
Juice
-- Dairy Only Flavoured Milk Drinks -6.0 3.2 16.9
- Flavoured Milk Drinks -6.0 3.2 16.9
Drinking Milk Products - - -
- Soft Cheese - - -
-- Unpackaged Hard Cheese - - -
-- Packaged Hard Cheese - - -
- Hard Cheese - - -
- Processed Cheese excl Spreadable 3.5 4.2 22.6
- Spreadable Cheese 3.0 4.8 26.3
Cheese 3.2 4.5 24.6
- Margarine and Spreads - - -
- Cooking Fats 1.5 0.6 3.0
- Butter 6.9 2.6 13.9
Butter and Spreads 2.9 1.1 5.7
Dairy - - -
Table 21 Sales of Dairy by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total


- Cream - - -
- Coffee Whiteners 3.3 4.8 26.6
Other Dairy 7.3 5.6 31.5
-- Plain Yoghurt 11.3 12.1 76.7
- Yoghurt 11.3 12.1 76.7
Yoghurt and Sour Milk Products 11.3 12.1 76.7
- Powder Milk 14.0 5.7 32.1
-- Goat Milk - - -
-- Cow's Milk 9.8 8.8 52.4
- Milk 9.8 8.8 52.4
Juice
-- Dairy Only Flavoured Milk Drinks 9.0 11.3 70.5
- Flavoured Milk Drinks 9.0 11.3 70.5
Drinking Milk Products 9.9 8.7 52.1
- Soft Cheese - - -
- Hard Cheese - - -
Cheese 16.9 13.6 89.2
- Cooking Fats 34.0 12.7 81.8
- Butter 23.2 11.9 75.6
Dairy 15.1 10.0 61.3
Table 22 NBO Company Shares of Dairy: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Bangladesh Milk 36.5 37.0 37.5 38.0 38.2

Union Ltd
BRAC social enterprise 15.3 15.5 15.7 16.0 16.2
Pran Foods Ltd 7.7 7.8 7.9 8.0 8.2
Akij Food & Beverage Ltd 6.4 6.6 6.7 6.8 6.8
Others 34.1 33.1 32.2 31.2 30.6
Total 100.0 100.0 100.0 100.0 100.0
Table 23 LBN Brand Shares of Dairy: % Value 2019-2022
% retail value rsp

Milk Vita Bangladesh Milk 37.0 37.5 38.0 38.2

Union Ltd
Aarong BRAC social enterprise 15.5 15.7 16.0 16.2
Pran (Pran-Rfl Group) Pran Foods Ltd 7.8 7.9 8.0 8.2
Farm Fresh Akij Food & Beverage Ltd 6.6 6.7 6.8 6.8
Others Others 33.1 32.2 31.2 30.6
Total Total 100.0 100.0 100.0 100.0
Table 24 Forecast Sales of Dairy by Category: Volume 2022-2027
2022 2023 2024 2025 2026 2027
tonnes)
and Quark ('000 tonnes)
tonnes)
- Fromage Frais and - - - - - -
Quark ('000 tonnes)
- Cream ('000 tonnes) - - - - - -
(million litres)
-- Condensed Milk 5.9 6.0 6.1 6.2 6.2 6.3
(million litres)
- Condensed and 5.9 6.0 6.1 6.2 6.2 6.3
Evaporated Milk
(million litres)
- Coffee Whiteners 3.6 4.3 4.3 4.3 4.3 4.3
('000 tonnes)
- Chilled Snacks ('000 - - - - - -
tonnes)
-- Chilled Dairy - - - - - -
Stable Desserts ('000
tonnes)
Other Dairy (Not - - - - - -
calculable)
-- Plain Yoghurt ('000 4.1 4.8 5.3 5.8 6.3 6.8
tonnes)
('000 tonnes)
(million litres)
- Yoghurt (Not - - - - - -
calculable)

(million litres)
Yoghurt and Sour Milk - - - - - -
Products (Not calculable)
- Powder Milk ('000 3.5 3.8 3.8 3.8 3.9 3.9
tonnes)
-- Goat Milk (million - - - - - -
litres)
-- Cow's Milk (million 847.3 913.1 942.1 970.6 998.4 1,024.9
litres)
- Milk (million litres) 847.3 913.1 942.1 970.6 998.4 1,024.9
(million litres)
-- Dairy Only Flavoured 13.6 14.9 16.2 17.4 18.5 19.6
Milk Drinks (million
litres)
- Flavoured Milk Drinks 13.6 14.9 16.2 17.4 18.5 19.6
(million litres)
Drinking Milk Products - - - - - -
(Not calculable)
- Soft Cheese ('000 - - - - - -
tonnes)
-- Unpackaged Hard - - - - - -
Cheese ('000 tonnes)
('000 tonnes)
- Hard Cheese ('000 - - - - - -
tonnes)
- Processed Cheese excl 5.0 5.5 6.1 6.7 7.2 7.9
Spreadable ('000 tonnes)
- Spreadable Cheese 6.1 6.9 7.4 8.0 8.5 9.0
('000 tonnes)
Cheese ('000 tonnes) 11.1 12.4 13.5 14.6 15.7 16.9
('000 tonnes)
- Cooking Fats ('000 16.9 17.1 17.1 17.2 17.2 17.2
tonnes)
- Butter ('000 tonnes) 6.1 6.4 6.7 7.0 7.2 7.5
Butter and Spreads 23.1 23.5 23.8 24.1 24.5 24.7
('000 tonnes)
Dairy (Not calculable) - - - - - -
trade sources
Table 25 Forecast Sales of Dairy by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026 2027
Frais and Quark
and Quark
Frais and Quark
- Fromage Frais and Quark - - - - - -
- Cream - - - - - -
-- Condensed Milk 1,180.2 1,090.8 1,089.7 1,087.4 1,084.1 1,079.8

- Condensed and 1,180.2 1,090.8 1,089.7 1,087.4 1,084.1 1,079.8
Evaporated Milk
- Coffee Whiteners 1,418.8 1,368.7 1,353.6 1,337.3 1,319.8 1,300.0
- Chilled Snacks - - - - - -
Desserts
-- Chilled Dairy Desserts - - - - - -
Stable Desserts
Other Dairy 2,599.0 2,459.5 2,443.3 2,424.7 2,403.9 2,379.8
-- Plain Yoghurt 633.6 541.3 584.3 629.0 674.0 719.2
- Yoghurt 633.6 541.3 584.3 629.0 674.0 719.2
Yoghurt and Sour Milk 633.6 541.3 584.3 629.0 674.0 719.2
Products
- Powder Milk 2,370.9 2,252.1 2,231.7 2,209.3 2,184.8 2,158.6
-- Goat Milk - - - - - -
-- Cow's Milk 79,471.8 75,107.2 72,877.0 74,197.6 75,424.5 76,419.3
- Milk 79,471.8 75,107.2 72,877.0 74,197.6 75,424.5 76,419.3
-- Dairy Only Flavoured 1,503.1 1,426.2 1,440.8 1,519.5 1,587.3 1,650.8
Milk Drinks
- Flavoured Milk Drinks 1,503.1 1,426.2 1,440.8 1,519.5 1,587.3 1,650.8
Drinking Milk Products 83,345.7 78,785.4 76,549.5 77,926.4 79,196.6 80,228.7
- Soft Cheese - - - - - -
-- Unpackaged Hard Cheese - - - - - -
- Hard Cheese - - - - - -
- Processed Cheese excl 7,561.9 7,905.7 8,730.9 9,598.7 10,504.6 11,429.0
Spreadable
- Spreadable Cheese 7,865.1 7,873.2 8,616.7 9,344.5 10,040.5 10,723.3
Cheese 15,427.0 15,778.9 17,347.7 18,943.2 20,545.1 22,152.3
- Cooking Fats 23,993.5 17,995.1 15,883.3 15,628.8 15,362.4 15,085.8
- Butter 7,297.7 6,783.1 7,066.0 7,339.4 7,615.9 7,890.0
Butter and Spreads 31,291.2 24,778.2 22,949.2 22,968.1 22,978.2 22,975.9
Dairy 133,296.5 122,343.3 119,874.0 122,891.4 125,797.9 128,455.8
trade sources
Table 26 Forecast Sales of Dairy by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-27 CAGR 2022/27 Total

- Cream - - -
- Coffee Whiteners 17.0 3.2 17.1

Other Dairy - - -
-- Plain Yoghurt 18.0 10.8 67.4
- Yoghurt - - -
Yoghurt and Sour Milk Products - - -
- Powder Milk 7.0 2.0 10.1
-- Goat Milk - - -
-- Cow's Milk 7.8 3.9 21.0
- Milk 7.8 3.9 21.0
Juice
-- Dairy Only Flavoured Milk Drinks 10.0 7.7 44.6
- Flavoured Milk Drinks 10.0 7.7 44.6
Drinking Milk Products - - -
- Soft Cheese - - -
- Hard Cheese - - -
Cheese 11.6 8.7 52.0
- Cooking Fats 0.9 0.4 1.9
- Butter 4.7 4.1 22.5
Dairy - - -
trade sources
Table 27 Forecast Sales of Dairy by Category: % Value Growth 2022-2027

2022/2023 2022-27 CAGR 2022/27 Total

- Cream - - -
-- Condensed Milk -7.6 -1.8 -8.5
- Condensed and Evaporated Milk -7.6 -1.8 -8.5
- Coffee Whiteners -3.5 -1.7 -8.4
Other Dairy -5.4 -1.7 -8.4
-- Plain Yoghurt -14.6 2.6 13.5
- Yoghurt -14.6 2.6 13.5
Yoghurt and Sour Milk Products -14.6 2.6 13.5
- Powder Milk -5.0 -1.9 -9.0

-- Goat Milk - - -
-- Cow's Milk -5.5 -0.8 -3.8
- Milk -5.5 -0.8 -3.8
Juice
-- Dairy Only Flavoured Milk Drinks -5.1 1.9 9.8
- Flavoured Milk Drinks -5.1 1.9 9.8
Drinking Milk Products -5.5 -0.8 -3.7
- Soft Cheese - - -
- Hard Cheese - - -
Cheese 2.3 7.5 43.6
- Cooking Fats -25.0 -8.9 -37.1
- Butter -7.1 1.6 8.1
Butter and Spreads -20.8 -6.0 -26.6
Dairy -8.2 -0.7 -3.6
trade sources
PLANT-BASED DAIRY
2022 Developments
▪ In 2022, plant-based dairy will remain negligible, however, the market is growing very slowly
due to awareness and availability of such products remaining low. Demand is still limited to
the few consumers who use such products, with around 80% of the country not even knowing
such products exist. As a result, most retailers are not prepared to stock plant-based dairy
products due to the low sales they will generate. Only few modern grocery retailers and online
outlets sell products such as Biomil, Sanitarium So Good, Amul, and Good Hope. Among this
niche consumer base soy and almond products are the most popular.

▪ It is unlikely that plant-based dairy will gain a significant presence in the forecast period.
These products would require heavy marketing investment and accessible prices to
encourage trial purchases. However, with consumer awareness and interest remaining
negligible, it is unlikely that players or retailers would be willing to invest in building consumer
interest in plant-based dairy. With that being said, there is a growing interest in the category,
which could stimulate some demand and interest, especially as many consumers are looking
for healthier options post pandemic. However, it is unlikely that plant-based dairy will become
a significant category any time soon.
Category Data
Table 28 Sales of Plant-Based Dairy by Category: Volume 2017-2022
2017 2018 2019 2020 2021 2022
Plant-based Cheese - - - - - -
('000 tonnes)
Plant-based Yoghurt - - - - - -
('000 tonnes)
- Other Plant-based - - - - - -
Milk (million litres)
- Soy Drinks (million - - - - - -
litres)
Plant-based Milk - - - - - -
(million litres)
Plant-based Dairy (Not - - - - - -
calculable)
Table 29 Sales of Plant-Based Dairy by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
- Other Plant-based Milk - - - - - -
- Soy Drinks - - - - - -
Table 30 Sales of Plant-Based Dairy by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
Plant-based Cheese - - -
Plant-based Yoghurt - - -
- Other Plant-based Milk - - -
- Soy Drinks - - -
Plant-based Milk - - -
Table 31 Sales of Plant-Based Dairy by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total
- Soy Drinks - - -
Table 32 NBO Company Shares of Plant-Based Dairy: % Value 2018-2022
Company 2018 2019 2020 2021 2022
Table 33 LBN Brand Shares of Plant-Based Dairy: % Value 2019-2022
Table 34 Forecast Sales of Plant-Based Dairy by Category: Volume 2022-2027
2022 2023 2024 2025 2026 2027
('000 tonnes)
('000 tonnes)
- Other Plant-based - - - - - -
Milk (million litres)
- Soy Drinks (million - - - - - -
litres)
(million litres)
Plant-based Dairy (Not - - - - - -
calculable)
trade sources
Table 35 Forecast Sales of Plant-Based Dairy by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026 2027
- Other Plant-based Milk - - - - - -
- Soy Drinks - - - - - -
trade sources
Table 36 Forecast Sales of Plant-Based Dairy by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-27 CAGR 2022/27 Total
- Soy Drinks - - -
trade sources
Table 37 Forecast Sales of Plant-Based Dairy by Category: % Value Growth 2022-2027

2022/2023 2022-27 CAGR 2022/27 Total
- Soy Drinks - - -
trade sources

Dairy Products and Alternatives in Bangladesh

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Dairy Products and Alternatives in Bangladesh

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Dairy Products and Alternatives

LIST OF CONTENTS AND TABLES

Table 20 Sales of Dairy by Category: % Volume Growth 2017-2022 ........................ 23

DAIRY PRODUCTS AND

Dairy products and alternatives in 2022: The big picture

What next for dairy products and alternatives?

Chart 1 Dairy Products and Alternatives: Traditional Grocery Retailer

Source: Euromonitor International

Chart 2 Dairy Products and Alternatives: Modern Grocery Retailer

Source: Euromonitor International

% current value growth

% retail value rsp

Bangladesh Milk 34.0 34.5 34.7 35.4 35.2

% retail value rsp

Milk Vita Bangladesh Milk 34.5 34.7 35.4 35.2

Table 5 Distribution of Dairy Products and Alternatives by Format: % Value 2017-2022

% retail value rsp

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

% constant value growth

Report closing date: 16 August 2022

Prospects and Opportunities

Table 8 Sales of Baby Food by Category: Volume 2017-2022

2017 2018 2019 2020 2021 2022

-- Powder Special Baby - - - - - -

Table 9 Sales of Baby Food by Category: Value 2017-2022

-- Powder Special Baby - - - - - -

Table 10 Sales of Baby Food by Category: % Volume Growth 2017-2022

-- Powder Special Baby Milk Formula - - -

Table 11 Sales of Baby Food by Category: % Value Growth 2017-2022

% current value growth

-- Powder Special Baby Milk Formula - - -

Table 12 NBO Company Shares of Baby Food: % Value 2018-2022

% retail value rsp

Nestlé Bangladesh Ltd 54.6 55.0 55.8 55.8 55.8

Total 100.0 100.0 100.0 100.0 100.0

Table 13 LBN Brand Shares of Baby Food: % Value 2019-2022

% retail value rsp

Table 14 Forecast Sales of Baby Food by Category: Volume 2022-2027

2022 2023 2024 2025 2026 2027

-- Powder Special Baby - - - - - -

Table 15 Forecast Sales of Baby Food by Category: Value 2022-2027

Dried Baby Food 2,532.4 2,228.5 1,965.9 1,973.8 1,979.7 1,983.6

Table 16 Forecast Sales of Baby Food by Category: % Volume Growth 2022-2027

Dried Baby Food 14.0 4.2 22.7

Table 17 Forecast Sales of Baby Food by Category: % Value Growth 2022-2027

% constant value growth

Dried Baby Food -12.0 -4.8 -21.7

Prospects and Opportunities

Table 18 Sales of Dairy by Category: Volume 2017-2022

2017 2018 2019 2020 2021 2022

Desserts ('000 tonnes)

Table 19 Sales of Dairy by Category: Value 2017-2022

Table 20 Sales of Dairy by Category: % Volume Growth 2017-2022

-- Savoury Fromage Frais and Quark - - -

Table 21 Sales of Dairy by Category: % Value Growth 2017-2022

% current value growth

-- Savoury Fromage Frais and Quark - - -

- Fromage Frais and Quark - - -

Table 22 NBO Company Shares of Dairy: % Value 2018-2022

% retail value rsp

Bangladesh Milk 36.5 37.0 37.5 38.0 38.2

Table 23 LBN Brand Shares of Dairy: % Value 2019-2022

% retail value rsp