食品饮料行业周度更新：乳制品行业的供需结构趋势再探讨

长江证券02-09

周度聚焦：深加工、低温液奶构成乳制品行业的结构性景气；原奶价格企稳，供需拐点将至我国乳制品人均消费量仍有较大提升空间，深加工乳制品具备较高景气度。2024 年度我国各类乳制品的销售规模合计约6535 亿元，其中液奶3550 亿元、奶粉1766 亿元、其他乳制品1219 亿元，液奶和奶粉同比下滑而其他乳制品（奶酪、奶油等深加工乳制品）延续增长，且预计未来5 年其他乳制品的增长快于液奶及奶粉。2024...

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