Global dairy industry trends for the next 10 years

Published Aug 9, 2024

Tridge summary

The FAO and OECD's 'Agricultural Outlook 2024-2033' report highlights the impact of increasing demand for plant-based alternative dairy products on the global dairy market. The Korea Dairy Promotion Association's 'Global Dairy Report' further analyzes the trends in milk and dairy product production, consumption, and price projections for the next decade. It anticipates a rise in global raw milk production, with India and Pakistan contributing significantly. However, the EU and New Zealand might see a decline due to reduced demand and environmental policies. Consumption patterns are expected to vary by region, with India and Pakistan showing an increase, while Europe and North America might decrease due to the rise in plant-based alternatives. Prices of dairy products, especially butter, are projected to remain stable with increasing demand. The report also addresses the challenges and initiatives within the dairy industry, such as environmental regulations, health concerns, and sustainability efforts.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Livestock Newspaper Reporter Min Byeong-jin] Recently, FAO and OECD jointly published the ‘Agricultural Outlook 2024-2033’. The report forecasted that as demand for plant-based alternative dairy products increases, consumers’ interest in the environment and health will increase, which will affect the global dairy product market. Accordingly, the Korea Dairy Promotion Association (Chairman Kim Seon-young) examined trends in the production, price, consumption, and trade sectors of milk and dairy products over the next 10 years through the ‘Global Dairy Report August issue’. Variables such as environmental and health issues and expansion of the plant-based alternative food market ▲Dairy product production sector Over the next 10 years, global raw milk production is expected to increase by 1.6% annually due to increases in production per cow and the number of milking cows, and is expected to increase faster than other agricultural and food product production. In particular, India ...

Source: Chuksannews