In 2023, Thailand's milk production stood at 1.3078 million metric tons, reflecting a moderate increase of approximately 1.8% year-on-year. The previous year (2022), the production was 1.2847 million metric tons with a slightly lower year-on-year growth rate of 1.87%. Over the last five years, the compound annual growth rate (CAGR) has averaged 1.74%, indicating a steady upward trend despite some yearly fluctuations.
The forecast for the next five years shows an anticipated growth in milk production, with an expected CAGR of 1.39% from 2024 to 2028. By 2028, production is projected to reach 1.4287 million metric tons, marking an overall growth rate of 7.16% over this period.
Key future trends to watch for include technological advancements in dairy farming, government policies to support dairy farmers, and global demand impacts. Monitoring the influence of climate change on agriculture and potential disruptions in the supply chain will also be crucial in predicting future production dynamics.
