The production of whole evaporated milk in South Africa has demonstrated a fluctuating trend over the past decade. Having experienced a significant drop of 59.3% in 2014 from the peak in 2013, the industry showed gradual recovery. From 2016 onwards, the production stabilized with minor year-on-year variations, reaching 23.25 thousand metric tons in 2023, reflecting a modest increase.
The year-on-year variation over the last two years shows a 1.21% increase in 2022 and a 1.17% rise in 2023. Over the last five years, the production registered an average annual growth of 1.25%.
Forecasted data suggests continued moderate growth, with production expected to reach 24.66 thousand metric tons by 2028, translating to a 4.71% overall growth over five years, representing an approximate CAGR of 0.92%.
Future trends to watch for:
- Potential impacts of economic shifts on dairy production costs.
- Changes in consumer preferences towards dairy alternatives potentially influencing demand.
- Technological advancements in dairy farming improving efficiency and yields.
- Environmental and regulatory considerations shaping industry practices.
