Category: Food & Drink

In the period between 2019 and 2028, the global dairy market is expected to grow at a moderate rate of around 5%. One of the primary reasons for the increase in demand for dairy products, like milk, cheese, and butter, is the growing population. Higher disposable income coupled with rising health concerns is also expected to propel the demand for dairy products across the globe. Global milk production has grown significantly in recent years. Global milk production grew nearly 2.0% in 2020 to reach 906 million tons, as reported by the Food and Agriculture Organization (FAO). The upsurge in milk output has been primarily driven by yield improvements, a considerable increase in dairy cattle numbers, and strong demand across the globe.