The milk production at the farm gate in South Korea showed significant growth from 2013 to 2015, with noticeable year-on-year increases, peaking at 1.82 billion euros in 2015. However, a slight decline occurred in 2016, followed by stabilization around 1.63 to 1.67 billion euros between 2017 and 2021. By 2023, the production stood at 1.73 billion euros. The past five years have seen a moderate average annual growth rate (CAGR) of 1.09%, indicating steady, albeit slow, growth. The forecast data predicts a CAGR of 1.42% from 2024 to 2028, suggesting a continued upward trend.
Future trends to watch for include:
- Technological advancements in dairy farming.
- Potential impacts of climate change on dairy production.
- Shifts in consumer preferences toward plant-based alternatives.
- Government policies influencing agricultural practices and subsidies.
