跨国食品饮料公司达能Danone市场前景及投资研究报告-培训课件外文版2024.6红牛

COMPANIES

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PRODUCTSDanoneCHAPTER

01OverviewBrandvalueoftheleadingFMCGbrandsworldwidein2023(inmillionU.S.dollars)BrandvalueoftheleadingFMCGbrandsworldwide2023BrandvalueinmillionU.S.dollars6,000

8,00002,0004,00010,00012,00014,00016,000PampersL'Oréal13,77113,638LEGO13,069Nestlé11,369Gillette10,44410,433ColgateDanone9,1528,861Kellogg'sJohnson&Johnson6,3873Description:In2023,theleadingglobalFMCGbrandwasPampers,withabrandvalueofabout13.77billionU.S.dollars.L’OréalandLEGOfollowedcloselyinsecondandthirdplaces,withbrandvaluesamountingto13.64billionand13.07billionU.S.dollars,respectively.BothPampersandisownedbyProcter&Gamble,whoalsoownGilette.ReadmoreNote(s):Worldwide;2023Source(s):InterbrandMostvaluablefoodbrandsworldwidein2023,basedonbrandvalue(inmillionU.S.dollars)Rankingofthemostvaluablefoodbrandsworldwide2023BrandvalueinmillionU.S.dollars10,000

15,00005,00020,00025,00022,427NestléYili12,405Lay's11,056DanoneTyson8,9428,722Kellogg'sQuakerHaitianMengniuWrigley7,2817,0846,2356,0955,6024Description:Withabrandvalueofover22,4billionU.S.dollars,Nestléwasbyfarthemostvaluablefoodbrandintheworldin2023.Yili,aChinesedairybrand,wasvaluedatabout12.4billionU.S.dollars,puttingthebrandinsecondplace.

ReadmoreNote(s):Worldwide;2023Source(s):BrandFinanceBrandvalueoftheleadingdairyprocessorsworldwidein2023(inbillionU.S.dollars)Globalleadingdairyprocessorsbasedonbrandvalue2023BrandvalueinbillionU.S.dollars02468101214YiliDanoneMengniuAlmaraiArla12.418.946.13.383.32.992.99VinamilkAmul2.53PrésidentYakult2.141.92Illuma5Description:In2023,theFrenchdairycompanyDanonewasthesecondleadingdairycompanyworldwidebasedonbrandvalue,withabrandvalueofaboutninebillionU.S.dollars.ChinesedairycompanyYiliwasrankedfirstthatyear,withabrandvalueofover12billionU.S.dollars.ReadmoreNote(s):Worldwide;2023Source(s):BrandFinanceLeadingfoodandbeveragecompaniesinNorthAmericain2022/2023,basedonsales(inmillionU.S.dollars)LeadingNorthAmericanfoodandbeverageprocessors2022/2023SalesinmillionU.S.dollars20,000

30,000010,00040,00050,00060,000PepsiCoInc.TysonFoodsInc.(10/2/22)Nestle(U.S.&Canada)JBSUSA52,66450,92735,72930,222KraftHeinzCo.20,340GeneralMillsInc.(5/28/23)Anheuser-BuschInBevSmithfieldFoodsInc.Coca-ColaCo.17,32416,56615,67515,67415,00013,000CargillInc.(5/31/23)*MarsInc.*HormelFoodsCorp.(10/30/22)ConAgraBrandsInc.(5/30/23)12,45912,2776Description:PepsiCowastheleadingfoodandbeveragecompanyoverallinNorthAmericainthe2022financialyear.Thecorporationhadsalesofover52.7billionU.S.dollarsfromfoodandbeveragesthatwereprocessedonthecontinent.Inthesameyear,PepsiCohadanetrevenueof86.39billiondollarsfromitsglobaloperations.TysonFoods,knownforitsmeat-basedbrandssuchasJimmyDeanandHillshireFarm,wereaclosesecond,with50.9billiondollarsinsalesfromitsNorthAmerican[...]

ReadmoreNote(s):NorthAmerica;2021to2023***;Numberscover2021earnings,ifthereisnoindicationofthefinancialyearSource(s):FoodPLeading20dairycorporationsworldwidein2022,basedondairysales(inbillionU.S.dollars)Globalleading20dairycorporations2022,basedonsalesSalesinbillionU.S.dollars05101520253035Lactalis(France)*DairyFarmersofAmerica(US)Nestlé(Switzerland)*28.624.523.3Danone(France)*21.2Yili(China)*18.3ArlaFoods(Denmark/Sweden)Mengniu(China)*FrieslandCampina(Netherlands)*Fonterra(NewZealand)*Saputo(Canada)14.514.414.414.213.7Unilever(Netherlands/UK)GujaratCo(India)8.37Savencia(formerlyBongrain)(France)6.97Description:TheFrenchdairycorporationLactalisgeneratedturnoverof28.6billionU.S.dollarsin2022,makingitthetopdairycorporationworldwide.Danone,aU.S.dairycorporation,generatedabout21.2billionU.S.dollarsindairysalesthatyear.

ReadmoreNote(s):Worldwide;2022;*Estimate.Turnoverdataispredominatelydairysales,basedon2022financialsandM&AtransactionscompletedbetweenJanuary1andJune30,2023.ExchangeratesfromMacrobond.Pendingmergers/acquisitions[...]

ReadmoreSource(s):RabobankLeadingadvertisersamongdairybrandsinBrazilin2023,byestimateddigitaladspendshareTopdairybrandsinBrazil2023,bydigitaladspendshareDigitaladspendshare15%0%5%10%20%25%30%35%NescauNestonutri34.51%22.3%FazendaBelaVistaDoriana7.16%4.86%4.77%4.4%4.26%LeitedeMagnésiaPhillipsNutrenPrimorLeiteFazendaDanone2.55%2.46%2.12%Claybom8Description:In2023,twobrandsrunbyNestlé–NescauandNestronutri–collectivelyaccountedforoveroverhalf(oralmost57percent)ofdairybrands'investmentsindigitaladvertisinginBrazil.AccordingtodatacollectedbyanothersourcefromadagenciesacrosstheSouthAmericancountry,onlinechannels'shareinBrazil'sadspendreached38.2percentin2023.ReadmoreNote(s):Brazil;2023;estimates;includingdisplay,video,andtextformatsonopenweb,social(Facebook,YouTube),andretailmedia,bothonmobileanddesktopdevices;excludingsearchSource(s):AdmetricksCHAPTER

02CompanyfactsNetsalesofDanoneworldwidefrom2012to2023(inmillioneuros)GlobalnetsalesofDanone2012-202330,00027,66127,61925,28724,81224,65124,28125,00020,00015,00010,0005,000023,62022,41221,94421,29821,14420,86920122013201420152016201720182019202020212022202310Description:ThisstatisticshowsDanone'snetsalesworldwidefrom2012to2023.Danoneisoperatinginthefollowingsegments:freshdairyproducts,water,earlylifenutrition,andmedicalnutrition.Allsegmentscombinedgeneratednetsalesofabout27.62billioneurosin2023.ReadmoreNote(s):Worldwide;2012to2023Source(s):DanoneSalesofDanoneworldwidein2023,bydivision(inbillioneuros)GlobalsalesofDanone2023,bysegment1614.31412108.5864.8420Essentialdairyandplant-basedSpecializednutritionWaters11Description:ThisstatisticdepictstheannualsalesofDanoneworldwidein2023,byoperatingdivision.In2023,globalsalesfromDanone'sessentialdairyandplant-basedproductsdivisionamountedtoabout14.3billioneuros.Danonegeneratedtotalannualsalesofabout27.62billioneurosthatyear.ReadmoreNote(s):Worldwide;2023Source(s):DanoneSalesofDanoneworldwidein2023,bygeographicalzone(inmillioneuros)GlobalsalesofDanonebygeographicalzone202310,0009,3829,0008,0007,0006,0005,0004,0003,0002,0001,00006,8895,0583,4962,794EuropeNorthAmericaChina,NorthAsia,&OceaniaLatinAmericaRestoftheworld12Description:ThisstatisticpresentsthesalesofDanoneworldwidein2023,bygeographicalzone.Inthatyear,globalsalesfromDanone'sEuropeansalesamountedtoabout9.3billioneuros.Danoneisamultinationalfoodandbeveragecompany,headquarteredinParis,France.ReadmoreNote(s):Worldwide;2023Source(s):DanoneShareoftheleading10countriesthatgeneratedthehighestnetsalesforDanonein2023Danone'smostimportantmarketsbasedonnetsalesshare2023Salesshare10%0%5%15%20%25%UnitedStatesChina22%11%France8%Russia4%IndonesiaUnitedKingdomMexico6%5%5%Spain4%4%GermanyBrazil3%13/statistics/247584/leading-10-countries-that-generated-the-highest-net-sales-for-danoneThisstatisticdepictstheshareoftheleading10countriesthatgeneratedthehighestnetsalesforDanonein2023.AsofDecember31,2023,Chinagenerated11percentofDanone'snetsales.TheUnitedStateswasDanone'skeymarketthatyear.

ReadmoreNote(s):Worldwide;2023Source(s):DanoneNetsaleschangeofDanoneworldwidein2023,byproductdivisionDanone'ssaleschangeworldwidebydivision2023Netsalesgrowth*0%1%2%3%4%5%6%7%8%9%10%WatersSpecializedNutritionEDP9.1%6.7%6.6%14/statistics/269300/revenue-changes-for-danone-products-worldwideThisstatisticshowsthechangeinDanone'snetsalesworldwidein20223comparedtotheprevioussalesyear,brokendownbyproductdivision.Duringthetimeperiodconsidered,thenetsalesofDanone'sWatersdivisionincreasedbyninepercent.ReadmoreNote(s):Worldwide;YearendedDecember31,2023Source(s):DanoneTradingoperatingincomeofDanoneworldwidefrom2008to2023(inmillioneuros)Danone'stradingoperatingincomeworldwide2008-20234,5004,0003,5003,8463,5623,5373,4813,3773,3173,3373,0222,9582,8922,8433,0002,5002,0001,5001,0005002,8092,6622,5972,2942,2700200820092010201120122013201420152016201720182019202020212022202315Description:ThisstatisticsdepictsDanone'stradingoperatingincomeworldwidefrom2008to2023.In2011,thetradingoperatingincomeofDanoneamountedtoabout2.84billioneuros.In2023,thisfigureroseto3.5billioneuros.Danoneisamultinationalfoodandbeveragecompany,headquarteredinParis,France.ReadmoreNote(s):Worldwide;2008to2023;*FinancialindicatornotdefinedbyIFRS,seedefinitionSection3.6FinancialindicatorsnotdefinedbyIFRS.Datapriorto2021weretakenfrompreviouseditionsofthepublication.ReadmoreSource(s):DanoneRecurringoperatingmarginofDanoneworldwidein2016and2023,bygeographicregionDanone:recurringoperatingmarginbygeographicalregion,2016-2023Recurringoperatingmargin20235%2022202110%2020201915%2018201720%20160%25%30%35%30.1%30.2%31.2%China,NorthAsia,andOceaniaEurope*11.5%12.4%15.5%14.6%13.6%14.1%15.5%16.8%10.1%10.1%10.8%NorthAmerica4.4%6.6%6.8%14.6%Restofworld**16%14.9%13%10.7%16Description:ThisstatisticpresentstherecurringoperatingmarginofDanoneworldwidefrom2016to2023,bygeographicalregion.Accordingtothereport,thecompany'srecurringoperatingmargininEuropeamountedtoabout12.4percentin2022.

ReadmoreNote(s):Worldwide;2016to2023Source(s):DanoneRecurringoperatingmarginofDanoneworldwidein2017to2023,bysegmentDanone:recurringoperatingmarginworldwidebysegment,2017-2023201720182019202020212022202330%25%20%15%10%5%0%SpecializedNutritionEDPInternationalWaters17Description:ThisstatisticshowstherecurringoperatingmarginofDanoneworldwidein2017to2023,bysegment.Accordingtothereport,Danone'sSpecializedNutritionsegmenthadarecurringoperatingmarginof21.6percentin2022.

ReadmoreNote(s):Worldwide;2017to2023Source(s):DanoneTotalnumberofemployeesoftheDanoneGroupworldwidefrom2008to2023*GlobalworkforceoftheDanoneGroup2008-2023120,000105,783104,843104,642101,885

102,401102,449

101,911100,99699,927

99,78199,18798,10596,166100,00080,00060,00040,00020,000088,52080,97680,143200820092010201120122013201420152016201720182019202020212022202318Description:ThisstatisticdepictsthetotalnumberofemployeesoftheDanoneGroupworldwidefrom2008to2023.In2023,theDanoneGroupemployed88,520peopleworldwide.Danoneisamultinationalfoodandbeveragecompany,headquarteredinParis,France.ReadmoreNote(s):Worldwide;2008to2023;*NumberofemployeesasofDecember31ofeachyear.Datapriorto2021weretakenfrompreviouseditionsofthepublication.

ReadmoreSource(s):DanoneCHAPTER

03CompetitorsSalesgrowthoftheleadingbrandsofwhitemilkintheUnitedStatesin2023U.S.milksalesgrowth:leadingvendorsofwhitemilk2023Salesgrowth-10%-50%Hood-40%-30%-20%0%10%20%30%30.3%40%KempsOrganicValleyPrairieFarmsHorizon23.1%15.9%14%6.6%5.4%2.6%1.8%FairlifeDarigoldHilandPrivatelabelBorden-1.6%-39.3%20Description:ThisstatisticshowsthesalesgrowthoftheleadingbrandsofwholemilkintheUnitedStatesin2023.Inthatyear,HoodwastheleadingwhitemilkbrandintheUnitedStatesbasedonsalesgrowthofabout30.3percent.ReadmoreNote(s):UnitedStates;12weeksendingApril23,2023Source(s):Circana;Frozen&RefrigeratedBuyerLeadingrefrigeratedflavoredmilkbrandsintheUnitedStatesasofJanuary2023,basedonsales(inmillionU.S.dollars)*TopsellingflavoredmilkbrandsintheU.S.2023SalesinmillionU.S.dollars020406080100120140131.53PrivatelabelHood67.65Fairlife33.03PraireFarmsHiland21.9716.43Kemps13.56DarigoldBorden12.9112.38TruMoo10.54PromisedLand5.9521Description:ThisstatisticshowsthetotalsalesoftheleadingflavoredmilkbrandsintheUnitedStatesin2023.Forthe12weeksendedJanuary1,2023,privatelabelbrandsgeneratedapproximately131.5millionU.S.dollarsinsales,followedbythebrandHoodwithover67millionU.S.dollarsinsales.ReadmoreNote(s):UnitedStates;12weeksendedJanuary1,2023Source(s):Frozen&RefrigeratedBuyer;IRISalesoftheleadingrefrigeratedkefirbrandsintheUnitedStatesin2023(inmillionU.S.dollars)SalesoftheleadingrefrigeratedkefirbrandsintheU.S.2023SalesinmillionU.S.dollars150510202530LifewayPrivatelabelForagerProjectMapleHill27.81.250.550.520.370.29Nancy'sBandi22/statistics/452043/dollar-sales-leading-refrigerated-kefir-brands-usThisstatisticdepictsthesalesoftheleadingrefrigeratedkefirbrandsintheUnitedStatesin2023.Forthe12weeksendedJuly16,2023,LifewaywastheleadingU.S.refrigeratedkefirbrand,generatingapproximately27.8millionU.S.dollarsinsales.

ReadmoreNote(s):UnitedStates;12weeksendedJuly16,2023Source(s):Frozen&RefrigeratedBuyer;IRILeadingprocessed/imitationcheeseslicebrandsintheUnitedStatesin2023,basedonsales(inmillionU.S.dollars)Best-sellingU.S.processed/imitationcheesebrands2023,basedondollarsalesSalesinmillionU.S.dollars050100150200250300KraftPrivateLabelVelveeta239.86101.136.17Borden16.21LandO'LakesBoar'sHeadViolife6.435.823.673.233.082.91FieldRoastFollowYourHeartDaiya23Description:Thisstatisticshowstheleadingbrandsofprocessed/imitationcheeseslicesintheUnitedStatesin2023,basedonsales.Forthe12weeksendedJanuary1,2023,KraftSingleswastheleadingbrandofprocessed/imitationcheeseslicesintheUnitedStates,withsalesamountingtoabout240millionU.S.dollars.ReadmoreNote(s):UnitedStates;12weeksendedJanuary1,2023Source(s):Frozen&RefrigeratedBuyer;IRISalesoftheleadingcoconutmilkbrandsintheUnitedStatesinmid2024(inmillionU.S.dollars)SalesoftheleadingcoconutmilkbrandsintheU.S.2024SalesinmillionU.S.dollars60248101214SilkSoDeliciousRebbl11.654.11.27CalifiaFarmsRemedyOrganics0.880.7424Description:ThisstatisticdepictsthesalesoftheleadingcoconutmilkbrandsintheUnitedStatesin2024.Forthe52weeksendedDecember3,2023,SoDeliciouswasthesecondrankedcoconutmilkbrandintheUnitedStates,generatingapproximately4.1millionU.S.dollarsinsales.ReadmoreNote(s):UnitedStates;52weeksendedDecember3,2023;Salesinsupermarkets,drugstores,massmerchants,militarycommissaries,selectclub,anddollarstoresSource(s):Frozen&RefrigeratedBuyer;IRICHAPTER

04GlobalconsumptionLeadingmilkalternativesbrandsrankedbybrandawarenessintheUnitedStatesin2023Mostwell-knownmilkalternativesbrandsintheUnitedStates2023Shareofrespondents0%10%20%30%40%50%60%70%80%SilkBlueDiamond'sAlmondBreezeChobani82%76%66%PlanetOat46%Oatly40%CalifiaFarms35%35%SoDeliciousDairyFree365EverydayValuePacificFoods33%32%GoodKarma28%Mooala27%RippleOatsome24%23%26Description:Silkisthemostwell-knownmilkalternativesbrandintheU.S.,with82percentbrandawareness,followedbyBlueDiamond'sAlmondBreezeandChobaniwith76and66percentbrandrecognitionrespectively.SmallerbrandslikeAlproorElmhurstfindthemselvesattheotherendoftheranking.ReadmoreNote(s):UnitedStates;July2023;1249respondents;18to64yearsSource(s):ConsumerInsightsLeadingmilkalternativesbrandsrankedbybrandawarenessintheUnitedKingdomin2023Mostwell-knownmilkalternativesbrandsintheUK2023Shareofrespondents0%10%20%30%40%50%60%70%80%90%100%Alpro84%innocent80%OatlyLindaMcCartneyessentialWaitroseOatActiLeaf63%53%39%32%31%29%28%27%BlueDiamond'sAlmondBreezeRudeHealthPlanetOrganicOatoMOMA24%22%21%JÖRDPlenish27/statistics/1346321/most-well-known-oat-milk-brands-in-the-ukAlproandinnocentarethetwomostwell-knownmilkalternativesbrandsintheUK.Thesebrandsarerecognizedby84and80percentofonlineconsumersrespectively.ComingonadistantthirdplaceisOatlywith63percentbrandawareness.

ReadmoreNote(s):UnitedKingdom;July2023;1246respondents;18to64yearsSource(s):ConsumerInsightsLeadingmilkalternativesbrandsrankedbybrandawarenessinGermanyin2023Mostwell-knownmilkalternativesbrandsinGermany2023Shareofrespondents30%

40%0%10%20%50%60%70%80%AlproAlnatura81%72%innocentOatly51%40%dennreeHaferDrinkVeganlebenBIOPRIMOshare34%34%31%30%Allos26%Joya20%KoRoProvamelNatumi19%19%17%28Description:With81percentbrandawareness,Alproisthemostwell-knownmilkalternativ