It is hoped this will provide a more sustainable dairy industry.
Guernsey Dairy produces about 7.6m litres of milk a year, which is already used to produce local products such as ice cream, cheese and yoghurt.
Managing director Andrew Tabel said the dairy was looking for business partners who can “provide additional products to complement our existing range”.
“Interested parties will need to be able to demonstrate high quality food manufacturing standards, excellent customer service, and offer the consumer a local alternative to our mainstream products”, said Mr Tabel.
The residual milk from the production process could be made available for resale to businesses wishing to make their own products, explained Guernsey Dairy.
The president of the Guernsey Farmers Association said the island’s cows produce a “high butterfat, high protein product rich in minerals” which could be turned into a range of new dairy products.
“These products would help to provide the island with a more sustainable future for the dairy industry and, in addition, reduce our reliance on imported dairy products”, said Michael Bray.