The fluid milk supply in South Korea for the year 2023 stood at 2.03 million metric tons. From 2024, the forecasted values indicate a gradual decline: 2.02 million metric tons in 2024, 2.01 in 2025, 2.00 in 2026, 1.98 in 2027, and 1.97 in 2028. The annual year-on-year percentage variation shows a minimal decrease of around 0.5% to 1%, reflecting a steady reduction in supply. Looking at the last two years, the trend similarly shows minor decreases. Over the next five years, the Compound Annual Growth Rate (CAGR) suggests an average decline of around 0.6% per year.
Future trends to watch for include potential impacts from changes in consumer preferences, government policies on dairy production, and developments in alternative dairy products. Additionally, monitoring global market supply chains and economic conditions will be crucial for understanding how they might influence the fluid milk supply in South Korea.
