The briefing examines how the milk commodity performs globally and in the largest countries in terms of supply and production. The report also provides data and analysis on milk price dynamics, as well as trends across key commodity consuming industries.
This report comes in PPT.
Milk production faces risks from climate change. Extreme weather events, such as droughts and heavy rainfall, ravage grazing lands. Rising temperatures also foster pests and livestock diseases, disrupting milk output, evident in the 2023 outbreak of Lumpy Skin Disease in India. A 2023 study in "Environmental Research Letters" warns that persistently high emissions could cause over one billion cows globally to suffer heat stress by the end of the century.
Milk production in developing countries is expanding rapidly, yet yields remain lower than global standards due to factors such as inadequate feeding, veterinary services and the low genetic potential of cattle, which limits milk production. With growing dairy demand, governments are focusing more on animal health and genetic enhancements. In countries such as China, there's a shift towards promoting large-scale, modern dairy farms over smaller ones.
Increased awareness of food intolerances and dietary changes, coupled with escalating concerns about climate change and amplified advocacy for animal rights, are fuelling greater competition from dairy alternatives, adversely affecting the demand for traditional dairy products. Key players in the dairy industry are adapting by broadening their ranges to include plant-based alternatives. Global market for dairy free dairy products and alternatives is set to rise by almost a quarter in real terms over 2022-2027.
Livestock farms, significant contributors to greenhouse gas emissions, face stringent environmental regulations, especially in the EU, where initiatives such as Farm to Fork and changes in the Common Agricultural Policy are intensifying these pressures. Although these regulations increase operating costs and are slowing down milk production, they also open opportunities in markets such as organic milk, driven by heightened environmental consciousness.
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