Milk production at the farm gate in South Africa has shown a mixed trend over the past decade. In 2023, the value of milk production stood at USD 1.07 billion. This reflected a minor increase of 0.7% year-on-year compared to 2022. Analyzing the CAGR over the last five years (2018-2023), there was an average annual growth of approximately 0.45%. Trends indicate fluctuating values with notable declines in 2015 and 2016, followed by a general upward trajectory since 2018.
Future trends to watch for:
- Continued moderate growth in milk production value is expected, with a forecasted CAGR of 0.45% over the next five years.
- The dairy industry may experience stabilization with incremental year-on-year increases, highlighting opportunities for consistent sector development.
- External factors such as climate change, economic policies, and technological advancements in farming practices will influence future trends.
