Key Highlights
- The global dairy market was valued at approximately USD 827 billion in 2020
- India is the world's largest milk producer, contributing about 22% of the total global milk production
- The United States produced over 221 billion pounds of milk in 2022
- The average American consumes about 188 pounds of dairy per year
- The global dairy industry is expected to reach a market size of USD 1.5 trillion by 2030
- Dairy exports from New Zealand accounted for approximately NZD 15 billion in revenue in 2021
- The European Union is the world's largest exporter of dairy products, with exports valued at around USD 20 billion in 2021
- The global cheese market size was valued at USD 132 billion in 2022
- The average dairy farm size in the United States is approximately 280 acres
- The world's largest dairy company is Lactalis, headquartered in France, with a revenue of over USD 25 billion in 2021
- India’s milk production grew at a compound annual growth rate (CAGR) of 6.02% from 2015 to 2020
- The global skim milk powder market was valued at USD 8.2 billion in 2021 and is projected to grow
- The average price of a gallon of milk in the US was around USD 3.87 in 2022
The dairy industry, a cornerstone of the global food economy valued at over USD 827 billion in 2020, is rapidly evolving with innovations, rising demand, and sustainability challenges shaping its future trajectory.
Market Size and Economic Impact
- The global dairy market was valued at approximately USD 827 billion in 2020
- The United States produced over 221 billion pounds of milk in 2022
- The average American consumes about 188 pounds of dairy per year
- The global dairy industry is expected to reach a market size of USD 1.5 trillion by 2030
- Dairy exports from New Zealand accounted for approximately NZD 15 billion in revenue in 2021
- The European Union is the world's largest exporter of dairy products, with exports valued at around USD 20 billion in 2021
- The global cheese market size was valued at USD 132 billion in 2022
- The average dairy farm size in the United States is approximately 280 acres
- The world's largest dairy company is Lactalis, headquartered in France, with a revenue of over USD 25 billion in 2021
- The global skim milk powder market was valued at USD 8.2 billion in 2021 and is projected to grow
- The average price of a gallon of milk in the US was around USD 3.87 in 2022
- The U.S. dairy industry directly employs over 900,000 workers
- The global yogurt market was valued at USD 84 billion in 2022 and is projected to grow at a CAGR of 4.3% until 2028
- The dairy industry contributes significantly to rural employment; in India, over 80 million rural households are involved in dairy farming
- Global whey protein market size was valued at USD 6.2 billion in 2021 and is expected to grow significantly
- The global plant-based dairy alternatives market was valued at USD 21.4 billion in 2022 and is expected to grow rapidly
- The European dairy industry employs around 1.5 million people across various sectors
- Australia’s dairy industry exports were valued at AUD 2.46 billion in 2021
- By 2025, organic dairy product sales are projected to surpass USD 23 billion globally
- Milk substitutes account for approximately 15% of global dairy consumption as of 2023
- India’s dairy industry is expected to reach a value of USD 225 billion by 2025, with a CAGR of 15%
- The global cheese consumption per capita stands at around 9.2 kg per year
- The average dairy farm in the EU has about 60 cows
- The global flavoring agents market for dairy products is projected to grow at a CAGR of 5.1% through 2026
- The average lifespan of a dairy cow is approximately 5 to 6 years, but many are kept for longer periods
- In 2021, the global infant formula market was valued at USD 11.6 billion, with dairy ingredients accounting for about 70% of the content
- The use of robotics in dairy farming is increasing, with over 10,000 robots installed worldwide by 2022
- The global butter market was valued at USD 7.8 billion in 2022 and is projected to grow
- The dairy industry’s contribution to global GDP is estimated at about 1.2%, providing livelihoods to over 650 million people worldwide
- In the US, organic dairy farms comprise about 3% of the total dairy farms, but they account for a significant portion of specialty dairy sales
- The global market for dairy cleaning and sanitation products is estimated to reach USD 4.2 billion by 2025, growing at a CAGR of 6%
Market Size and Economic Impact Interpretation
Production and Consumption Trends
- India is the world's largest milk producer, contributing about 22% of the total global milk production
- India’s milk production grew at a compound annual growth rate (CAGR) of 6.02% from 2015 to 2020
- Production of organic dairy products increased globally by over 12% annually from 2017 to 2021
- China’s dairy consumption per capita increased from 28 kg in 2010 to over 38 kg in 2021
- Around 68% of U.S. milk production goes into fluid consumption, with the rest used for processed products
- The average dairy cow in the US produces about 6,268 gallons of milk per year
- The dairy industry in Brazil is one of the fastest-growing markets in Latin America, with a CAGR of 4.8% from 2016 to 2021
- The United States leads the world in cheese production, with over 5.4 million metric tons produced annually
- The average daily milk intake per person in Europe is approximately 250 ml
- The use of genetic selection and breeding programs has increased dairy cattle productivity by approximately 15% over the last decade
- Dairy herd fertility rates have improved globally by around 10% over the past decade due to advanced reproductive technologies
Production and Consumption Trends Interpretation
Regional Industry Insights
- The production cost of dairy varies significantly worldwide, with the US average at about USD 0.36 per liter
- The U.S. imports dairy products primarily from New Zealand, Canada, and the European Union, totaling over USD 2 billion annually
- Lactose intolerance affects approximately 65% of the world's population, influencing dairy consumption patterns
- South Asia remains the fastest-growing dairy market region, with a CAGR of over 6% from 2017 to 2022
- The majority of dairy farms in Africa are smallholder farms with fewer than 5 cows, contributing largely to local food security
Regional Industry Insights Interpretation
Sustainability and Environmental Aspects
- The dairy industry’s carbon footprint accounts for about 3% of global greenhouse gas emissions
- Dairy waste management is a growing concern, with the industry producing over 400 million tons of waste annually worldwide
Sustainability and Environmental Aspects Interpretation
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