The production of whole fresh cow milk in South Korea has experienced a consistent decline over the past decade, with a notable peak in 2014 at 2.214 million metric tons, followed by a general downward trend. In 2023, the production stood at 1.7263 million metric tons. The year-on-year variations reveal significant drops, especially in 2018 with an 11.35% decrease. The last two years have shown minor declines of 1.41% and 1.4% respectively. Over the preceding five years, the compound annual growth rate (CAGR) averaged at -1.1%. Forecasts anticipate continued decreases, projecting a CAGR of -1.22% over the next five years down to 1.5981 million metric tons by 2028.
Future trends to watch for include the impact of changing dietary preferences, advancements in dairy farming technology, and potential policy shifts that could influence milk production volumes. Additionally, the global market landscape and environmental sustainability efforts could play significant roles in shaping the future of dairy farming in South Korea.
