UTRECHT, Netherlands, Aug. 31, 2023 /PRNewswire/ -- According to Rabobank's 2023 Global Dairy Top 20 Report, Yili once again retained its spot among the top 5 as the only Asian dairy producer, securing its top leadership position in the region's dairy industry for 10 consecutive years.
Based on the financial performance of major dairy producers, the ranking reflects Yili's long-term resilience in the face of a volatile global economic landscape.
Leveraging the competitive advantage established across the value chain, Yili has maintained a steady growth in total revenue over the last 30 years. In the past decade, Yili's revenue has increased from 47.779 billion Chinese yuan (USD6.55 billion) in 2013 to 123.171 billion Chinese yuan (USD16.9 billion) in 2022, translating to a compound growth rate of 11% - double the industry average.
Yili's decades-long steady growth goes hand in hand with the company's global resources and innovation collaboration network, as well as its efforts to continuously develop nutritious and healthy dairy products in response to the full-lifecycle needs of consumers.
Yili has invested heavily to expand its R&D footprint across the globe, establishing a total of 15 innovation centers at home and abroad. By the end of December 2022, Yili ranked second among the top 10 global dairy companies in terms of total patent applications and invention applications. Besides the liquid milk business in which Yili has a competitive advantage, it is also riding the new consumption trend of diversified healthy food and beverage, pivoting to other high-growth segments including organic dairy products, dairy and plant-based nutraceuticals, cheese and natural mineral water.
With the goal of becoming a leading innovator, Yili is also an industry pioneer in building digital operation platforms covering product innovation, supply chain management, omni-channel expansion, and consumer experience. The company's product iteration and innovation as well as service quality upgrade operations are guided by the results of big data analysis and algorithmic forecasting. These digital solutions also enable Yili to establish a comprehensive product traceability system. The company also taps into AI-related innovations, developing its own virtual human, meta-universe factories, and GPT application products for a more diversified consumer experience.
To bring the benefits of nutrition and health to more consumers, Yili is accelerating its growth in global markets, achieving a 52.2% year-on-year revenue increase in overseas business last year. In addition to Europe, Oceania and other regions with sufficient dairy intake, Yili has also invested in Southeast Asia, where its "dual centers" -- Yili's Thai subsidiary and Indonesia production base -- act as the engine for Yili to serve the local market. Leveraging the innovation cooperation platforms jointly set up with local universities and R&D institutions, Yili has launched tailor-made products in response to local consumers' demands. Various Yili products including Cremo, Joyday, AMBPOMIAL and Youngfun are now available in the Southeast Asian market.
To date, Yili has established 75 production bases across the globe, collaborating with more than 2,000 partners. The diversified range of products, including liquid milk, milk powder, yogurt, cheese and ice cream, can be found in more than 60 countries and regions. The Yili brand has also attained global popularity, and has been recognized as the World's Most Valuable Dairy Brand by Brand Finance for four consecutive years.
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