Supply and demand for dairy forecast to increase

Published 6 July 15

According to the Food and Agriculture Organisation’s (FAO) latest outlook report, global supply and demand for dairy products is forecast to increase over the next 10 years. Global milk production is expected to increase by 170 million litres by 2024 (up 23%) with the majority (75%) forecast to come from developing countries especially from Asia.

Consumption of dairy products is also forecast to increase globally with growth in developed countries likely to be quite modest due to the already high per capita consumption of dairy. Global dairy trade is expected to expand and become more concentrated amongst exporting countries, while China is expected to continue to shape demand. However, the country’s import demand is forecast to grow at a slower rate in the next decade compared to the past.