Between 2013 and 2023, Australia's whole fresh cow milk production has shown significant fluctuations. Starting from 9.522 million metric tons in 2013, production experienced small increases and decreases until 2016, peaking at 10.02 million metric tons. However, from 2017 onwards, a substantial decline set in, hitting a low of 6.8583 million metric tons in 2023. This represents a 26.11% year-on-year drop in 2019 and a further 2.58% decrease in 2023. Over the last five years, the compound annual growth rate (CAGR) has been a negative -5.89%, indicating a persistent downward trend.
Forecasts for 2024 through 2028 continue to show a decline in production, with a forecasted 5-year CAGR of -2.08% and an overall projected decrease of 9.96% in volume by 2028. By 2028, the production is expected to fall to 6.0104 million metric tons.
Future trends to watch for include the impact of climate change on dairy farming, advancements in dairy farming technologies, shifts in domestic and international demand, and potential policy changes affecting the dairy industry.
