China's milk production has shown fluctuations over the past decade, experiencing a slight decline in the early years (2013-2017) with annual variations ranging from -5.48% to -0.83%. However, stabilization and growth resumed from 2018 onwards, marking an average year-on-year increase of around 6% in recent years. By 2023, milk production stood at 41.6 million metric tons, supported by consecutive annual growth. The compounded annual growth rate (CAGR) for the last five years was 6.23%.
Future trends to watch for include:
- Continued growth, albeit at a slower forecasted 5-year CAGR of 3.86% through 2028.
- Improvements in dairy farming technology and practices contributing to higher yields.
- Increased domestic demand driven by rising health awareness and nutritional needs.
- Potential impacts of global market dynamics and trade policies on import/export balance.