Fonterra Co-operative Group Ltd (Fonterra) is a dairy company that produces and sells milk and milk-derived products. It is owned by over 20,000 farmers and serves one billion consumers and food service providers in more than 140 countries worldwide.

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Fonterra's R&D arm focused on the development of new and innovative products and the improvement of its existing product lines. In FY2023, the company incurred expenses of NZD116 million on R&D, which as a percentage of revenue, stood at 0.4%. As of July 2023, the company had 232 granted patents across 25 families of patents.