The production of skimmed cow milk in South Africa has shown a declining trend from 2013 to 2023, with production standing at 261.81 Th Metric Tons in 2023. Over the past decade, this market has exhibited high variability, peaking in 2013 before experiencing a significant drop in 2014, and showing a gradual but continuous decline thereafter.
Between 2021 and 2023, the year-on-year variation remained negative, with slight decreases of around -0.96% and -0.95%. The Compound Annual Growth Rate (CAGR) over the last five years from 2019 to 2023 indicates a decrease of -0.97% per year.
Looking at the forecast from 2024 to 2028, the production is expected to continue to decline, with a forecasted 5-year CAGR of -0.82% and an overall growth rate of -4.02% by 2028.
Future trends to watch for:
- Impact of environmental changes and water scarcity on milk production.
- Influence of dietary shifts towards plant-based alternatives.
- Market responses to economic conditions and consumer purchasing power.
