Forecast: Milk Production in China

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.

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