Lifeway Foods record 16.7% sales growth in 2024

USA – Lifeway Foods Inc., a leading producer of kefir and fermented probiotic products, reported a record-breaking year in 2024, with net sales reaching US$186.8 million for the year ended December 31. 

According to the company, this marks an increase of US$26.7 million, or 16.7%, compared to the previous year. 

The surge in sales was primarily fueled by higher volumes of Lifeway’s branded drinkable kefir, a product that continues to gain popularity among health-conscious consumers.

The company’s gross profit as a percentage of net sales stood at 26% for the year, reflecting solid financial performance. 

A report by Lifeway also highlighted a net income of US$9 million, translating to US$0.61 per basic common share and US$0.60 per diluted share. 

The strong results capped off with a notable fourth-quarter performance, where net sales hit US$46.9 million, the second highest quarterly figure in the company’s history.

“I am pleased to report another record year of net sales for Lifeway, spearheaded by the continued, strong volume growth of our flagship drinkable Lifeway Kefir,” said Julie Smolyansky, President and CEO of Lifeway. 

She attributed the success to the company’s ability to meet rising consumer demand for protein-rich, probiotic-packed foods. 

Following a 13% sales increase in 2023, Smolyansky noted that growth accelerated in 2024, with the company achieving a 17% year-over-year rise.

Lifeway’s performance reflects broader market trends, as consumers increasingly prioritize health and wellness. 

The company reported 21 consecutive quarters of year-over-year growth, a streak Smolyansky credited to loyal customers and effective marketing strategies. Investments in production capacity also played a key role. 

A new state-of-the-art facility in Waukesha, Wisconsin, is set to nearly double production capacity and triple bottling speed, boosting efficiency as demand rises.

“We are strategically investing this year to further boost our growth,” Smolyansky added, emphasizing plans to enhance key product lines and expand brand awareness. 

The upgrades at the Waukesha plant are expected to support higher shipment volumes while maintaining operational efficiency. 

Lifeway’s focus on innovation and market leadership positions it to capitalize on growing interest in nutritious, bioavailable foods.

Industry analysts have praised Lifeway’s consistent growth, noting that its kefir products align with current dietary preferences. 

The company’s ability to scale production while maintaining quality has strengthened its competitive edge. 

With 2024 now in the books as a standout year, Smolyansky expressed optimism about 2025, confident that Lifeway is well-equipped for another strong performance.