The data on milk production in India indicate a steady upward trend from 2013 to 2023, with production increasing from 137.69 to 242.84 million metric tons. The annual year-on-year growth rate fluctuated mildly, generally maintaining an upward trajectory. From 2013 to 2023, the compound annual growth rate (CAGR) exhibited some variability, peaking in 2018 at 6.49% and gradually declining to 4.55% in 2023.
Looking ahead from 2024 to 2028, the forecasted data suggest a continued rise in milk production, albeit at a slower pace. The CAGR for this period is projected to be 3.03%, amounting to a 16.12% growth over five years, highlighting a deceleration compared to the past decade.
Future trends to watch for:
- Technological advancements in dairy farming that could boost productivity.
- Policy changes and incentives by the government impacting milk production.
- Shifts in domestic consumption patterns and export demands.
