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Global Market Overview of Milk

August 2022

The briefing examines how milk performs globally in the largest countries in terms of output. The report also provides data for milk prices and main dairy consumer industries, as well as economic indicators for countries with largest markets for dairy consumption.

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This report comes in PPT.

Key findings

Vulnerability to climate change

Milk production is highly vulnerable to climate change, with recurring unusual climate phenomena and natural disasters, such as droughts and excessive rainfall, devastating grazing fields. Rising global temperatures result in pest and livestock diseases becoming more prevalent as well, hampering milk production.

Productivity growth

While milk production in developing countries continues to grow rapidly, yield productivity is still significantly lower compared to global standards due to inadequate feeding and veterinary services, as well as low genetic potential of cattle, constraining full milk production potential. As dairy demand continues to grow witihin developing economies, governments are increasingly investing in animal health and genetic improvement. Technological advancement of milk production systems is set to be among the major drivers of milk production growth as well, adding to rising profitability within the sector.

Competition from dairy alternatives

Rising awareness of food intolerances, dietary change, as well as growing concerns about climate change and intensifying animal advocacy lead to more intensive competition from dairy alternatives, negatively impacting demand for dairy. As a result, major dairy industry players are expanding their product base with plant-based options.


As livestock farms account for a substantial share of greenhouse gas (GHG) emmisions, the dairy industry remains subject to environmental regulations, especially in the EU, one of the leading milk producers. While regulations do add additional pressure to already growing input costs, which could potentially lead to slowdown in milk production, higher environmental awareness also produces opportunities, such as growing demand for organic milk.

Key findings
Key trends impacting commodities markets in 2022
Europe and North America remain key producers, yet strongest growth is seen in Asia Pacific
P rices on a downward trajectory as consumers’ budgets remain constrained
Quarterly price analysis table
India is set to witness strong growth in milk production due to rising productivity
USA and India witnessed the strongest growth in milk output over the past five years
USA: Unfavourable weather conditions cut into milk output growth
India: Milk production to grow amid government investment in productivity
Brazil: Higher milk prices allow farmers to increase supply
USA remains the largest consumer market for dairy products
USA: Butter is set to grow strongly, yet cheese will remain the most demanded dairy product
China: Dairy consumption to grow as health remains a concern
Iran: Dairy consumption value to continue growing amid soaring inflation
Top five consuming industries
Dairy products: Sector is set to grow, despite intensifying competition from dairy alternatives
Restaurants and bars: Slow recovery to hamper medium-term dairy consumption
Public a dministration : recovering feeding programmes add to rising dairy demand
Hospitals, medical and dental services: USA’s healthcare sector drives extensive consumption
Retail and wholesale: At-home cooking boosts dairy sales, yet the trend is set to subside
Top 10 country profile : USA
Top 10 country profile : India
Top 10 country profile : Brazil
Top 10 country profile : Germany
Top 10 country profile : China
Top 10 country profile : Russia
Top 10 country profile : France
Top 10 country profile : New Zealand
Top 10 country profile : Pakistan
Top 10 country profile : Turkey
Key challenges and opportunities
Economic forecasts


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