Key Market Indicators
Serbia's dairy products market is projected to reach approximately €780 million by 2028, up from about €750 million in 2023. This marks an average annual growth rate of 0.6%. The Serbian market has seen a steady increase, with an annual growth rate of 2.7% since 2019. In 2023, Serbia ranked 23rd globally in dairy products sales, with Slovakia just ahead at the same revenue of €750 million. Leading the rankings were Germany, Italy, and the Netherlands, taking the second, third, and fourth positions respectively. On the production front, Serbia's dairy products output is expected to grow to around €740 million by 2028, from €710 million in 2023, also reflecting a 0.6% annual growth rate. Since 2019, Serbian dairy production has increased by 2.8% annually. In 2023, Serbia was the 21st largest producer of dairy products, with Hungary surpassing it at the same production value of €710 million. Germany, Italy, and the Netherlands again led the rankings, occupying the second, third, and fourth spots in production.
