Global Dairy Market End of Year Report 2023

Global Dairy Market
End of Year Report 2023

Start exploring the ever-changing landscape of the dairy market of 2023 with our End of Year Report.

Supported by Vesper’s data, the analysis covers both the supply and demand facets of the dairy market, exploring how trade dynamics have evolved.

Ultimately, the report wraps up with a concise market outlook, along with key takeaways empowering individuals and businesses to make well-informed decisions.

What to expect from the report

We are at the end of a period where the supply of milk and its derivatives surpassed its corresponding demand. Particularly in the first half of 2023 and to a lesser extent until the start of Q3, an excess of dairy products prevailed. Dive into our end or year report, in which we reflect on past trends, current prices dynamics, and the future outlook of the dairy market.

What happened in 2023?

  • In the United States, the year-to-date statistics reveal a 4.47% increase in cow slaughter compared to the preceding year, 2022.
  • Southern European nations are grappling with reduced domestic milk production attributed to consistently higher average temperatures.
  • The year-to-date year-on-year exports of raw milk from Germany to Italy have experienced a remarkable surge of 145.35%.
  • Thanks to favorable pasture growth, New Zealand’s milk production has remained consistent with last year, showing a slight uptick of 1.55% year-to-date compared to the previous year.
  • China is assuming a more prominent role in the dairy industry, prompting countries like New Zealand to adjust their production strategies.
  • Lower prices have spurred heightened exports of milk equivalents to African, Middle Eastern, and Asian countries.

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Vesper,, is a commodity intelligence platform that transforms difficult-to-understand data into easy-to-digest intelligence and actionable insights, enabling users to back their decisions with facts. The insights provided by our market analysts in this report are backed-up by Vesper’s real-time and difficult to find data.

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