Key Market Indicators
Milk consumption across Europe is expected to drop by 0.6% year on year over the coming years, reaching €4.7 billion by 2026. This is down from €4.9 billion in 2020, due to a decrease in demand of 1.8% year on year. The United Kingdom, Italy and France are the top 3 countries in Europe in terms of milk consumption, accounting for a combined market value of €3.6 billion in 2020. British milk production is projected to increase by 0.4% year on year over the forecast period, reaching 15.9 million metric tons by 2026. Since 1966, British supply has grown by 1.1% year on year. In 2021, New Zealand overtook the United Kingdom to become the largest milk producer in the region, with 15.5 million metric tons. The United States Virgin Islands, Pakistan and Brazil ranked second, third and fourth, respectively.