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Global milk production is forecast to increase by 1.8% over the next decade according to an outlook report from the Organisation for Economic Co-operation and Development (OECD).
By 2031, the OECD forecasts global milk will hit 1,060m tonnes (Mt), up from 887Mt in 2021. Population growth and higher per-capita wealth will also see dairy consumption rise during the same period.
Consumption is forecast to grow by 0.4% to 21.9kg of milk solids per head by 2031 in highly developed countries, with 2% and 1.5% growth in medium-and low-income countries respectively.
Asia
More than 50% of the growth in production will come from Asia, with India and Pakistan on track to supply just over 30% of global dairy produce.
Of the leading export regions, only the US and EU will continue to see growth in production over the next 10 years. Environmental restrictions and a lack of land is expected to curtail growth in New Zealand. However, these three regions combined are still forecast to supply 74% of global butter, 65% of cheese, 71% of WMP and 80% of global SMP exports.
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