The actual milk production in Saudi Arabia showed various growth rates from 2013 to 2023. The value stood at 2.8914 million metric tons in 2023. The year-on-year variation was 2.34% in the same year. Over the last two years, the production increased with year-on-year variations of 2.44% and 2.34% respectively. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) was 4.13%, indicating a steady growth trajectory.
From 2013 to 2023, milk production in Saudi Arabia experienced fluctuating growth rates, with significant years such as 2019 showing a 13.63% increase, whereas 2020 saw a decline of 4.78%. Notably, 2018 encountered a 3.45% reduction in production.
Forecasts for milk production from 2024 to 2028 suggest a positive outlook. A modest but positive growth is predicted, with a forecasted 5-year CAGR of 1.77% and a total growth rate of 9.18%. By 2028, production is expected to reach 3.2361 million metric tons.
Future trends to watch for:
- Technological advancements in dairy farming could further optimize production efficiency.
- Potential changes in domestic demand due to population growth and diet preferences.
- Government policies and incentives to boost local agricultural production.
