In 2023, the fluid milk supply in Australia stood at 8.25 million metric tons. The forecasted data indicates a consistent year-on-year decline from 2024 to 2028:
- 2024: 7.97 million metric tons, representing a decline of 3.4% from 2023.
- 2025: 7.69 million metric tons, showing a year-on-year decrease of 3.5%.
- 2026: 7.41 million metric tons, with a further decline of 3.6% year-on-year.
- 2027: 7.14 million metric tons, decreasing by 3.6% year-on-year.
- 2028: 6.87 million metric tons, indicating a year-on-year drop of 3.8%.
The compound annual growth rate (CAGR) for this period is approximately -3.6%, indicating a steady downward trend in fluid milk supply.
Future trends to watch for include potential changes in domestic dairy farming practices, shifts in consumer preferences toward plant-based alternatives, and possible impacts of climate change on dairy production. Monitoring these factors will be critical for stakeholders in the dairy industry.
