The production of skimmed cow milk in Australia has shown some volatility over the past decade. From a value of 2.5556 million metric tons in 2013, it reached a peak of 2.9773 million metric tons in 2016. However, the production has been generally declining since 2017 with occasional minor fluctuations. As of 2023, the production stood at 2.615 million metric tons.
Recent trends indicate shrinkage; the production fell by 0.52% from 2022 to 2023 and by 0.53% from 2021 to 2022. Over the past five years, the Compound Annual Growth Rate (CAGR) has been around -0.54%, indicating a steady decline. The forecast for the next five years suggests a continuation of this downward trend, with an average annual decrease of 0.44%.
Future trends to watch for include potential impacts from climate change on dairy farming, shifts in consumer preferences towards plant-based milk alternatives, and changes in dairy export markets. These factors might further influence the production volumes of skimmed cow milk in Australia.
