The production of drinking milk in Sweden has exhibited a consistent downward trend since 2013. In 2023, the production stood at 675.39 Thousand Metric Tons. Observing the year-on-year variation over the past two years, 2022 saw a modest increase of 0.33%, while 2023 recorded a decrease of 1.53%. Over the last five years, from 2019 to 2023, the compound annual growth rate (CAGR) marked a decline of 2.18%. Looking ahead, the forecast for the next five years suggests a continued decrease, albeit at a slower pace, with a forecasted CAGR of -0.55% and an overall 5-year growth rate of -2.7% by 2028.
Trends and factors to watch for in the future:
- A shift in consumer preferences towards plant-based milk alternatives, which may further impact traditional milk production.
- The influence of sustainability and environmental concerns on dairy farming practices and production volumes.
- Economic factors such as production costs, market prices, and potential subsidies or regulations affecting the dairy industry.
- Technological advancements in dairy farming that could mitigate some of the production declines.
