Milk production at the farm gate in Brazil stood at 11.71 billion US dollars in 2023. Over the last two years, values experienced slight increases, with year-on-year variations of 0.93% in 2022 and 0.91% in 2023. Looking at the past five years, the compound annual growth rate (CAGR) was -0.25%, indicating slight negative growth overall.
Forecasted values suggest that milk production will gradually increase, with a compound annual growth rate of 0.68% expected over the next five years, resulting in a growth rate of 3.45% by 2028.
Future trends to watch for:
- Impact of global economic conditions on milk prices.
- Technological advancements in dairy farming to improve efficiency and yield.
- Environmental regulations and sustainable farming practices.
- Shifts in domestic and international demand for dairy products.
