Milk production in Chile fluctuated around 2.5 to 2.7 million metric tons between 2013 and 2023. In 2023, production reached 2.72 million metric tons, a 0.83% increase from the previous year. Over the last two years, the trend shows a positive year-on-year percentage change, averaging around 0.84%. The last five-year CAGR indicates a consistent annual growth rate of 1.27%.
Looking forward, the forecasted data shows a steady increase in milk production, reaching 2.82 million metric tons by 2028. The anticipated five-year CAGR is 0.62%, leading to an overall growth rate of 3.12% over the forecast period.
Future trends to watch for include the impact of climate change on agricultural practices, the adoption of advanced dairy farming technologies, and shifts in consumer preferences towards alternative milk products, which may influence production dynamics in the coming years.
