Milk rose to 17.17 USD/CWT on December 2, 2025, up 0.06% from the previous day. Over the past month, Milk's price has risen 1.48%, but it is still 13.50% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Milk - values, historical data, forecasts and news - updated on December of 2025.

How much is a gallon of milk? In 2024, the average retail price of whole fortified milk in the United States was *** U.S. dollars, which was a decrease from the previous year. Milk production Dairy farming is an agricultural business which is engaged in the long-term milk production within the dairy industry. Dairy farming is a large contributor to the overall economy in many states. California, Wisconsin, and Idaho had the highest milk supply in 2022. Continuing the trend of each year breaking the record for milk production, an estimated ***** billion pounds of milk were produced in 2023. Milk consumption Since 2011, there has been a steady decline in milk consumption in the United States, with just **** liters consumed per capita compared to **** in 2011. This could be explained by consumers’ increasing shift towards plant-based dairy alternatives. In 2019, ** percent of consumers consumed soy products at least once a week, up from ** percent in 2010.

Fresh whole milk, fortified, sold per gallon regardless of packaging type. Includes organic and non-organic milk."

In 2024, the average price of milk was *** U.S. dollars per gallon. Milk alternatives were priced **** U.S. dollars. The difference between the price of meat and its alternatives in the U.S. retail market amounted to about *** U.S.dollars per pound.

The Wholesale Price Index of milk across India during financial year 2024 was over ***. An overall increase in the price index for milk was seen over the years from financial year 2013 in the country.

In financial year 2025, the Farmgate milk price for milk supplied to Fonterra was ***** New Zealand dollars per kilogram of milk solids. This was an increase from the previous year, in which the Farmgate milk price was **** New Zealand dollars per kilogram of milk solids. Fonterra Co-operative Group Limited Fonterra is a prominent dairy cooperative based in New Zealand and is one of the largest dairy companies in the world. In 2020, Fonterra secured the third position among the top 20 global dairy corporations, as measured by their market share percentage of worldwide milk production. Over the years, the company has played a pivotal role in New Zealand's economy, contributing significantly to the nation's dairy exports. In 2024, Fonterra's sales revenue declined slightly compared to the previous year. Dairy industry in New Zealand New Zealand has a thriving dairy export industry, with dairy products being a significant contributor to the country's economy. During the financial year 2024, New Zealand's dairy industry export revenue reached **** billion New Zealand dollars. Key dairy exports from New Zealand include fluid milk, butter, cheese, and milk powder, with many products finding markets in Asia, particularly China. The industry has faced challenges related to price fluctuations and international trade dynamics, but it continues to be a vital sector in New Zealand's agricultural and export landscape.

Northeast Area Milk Prices - Historical chart and current data through 2024.

Fresh whole milk, fortified, sold per gallon regardless of packaging type. Includes organic and non-organic milk."

In 2024, the producer price index for milk in Germany was *****. This means that prices had increased by around ** percent compared to the index year of 2024.

In 2024, after four years of growth, there was decline in the Asian whole fresh milk market, when its value decreased by -1.7% to $353.4B. The market value increased at an average annual rate of +3.6% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $359.6B in 2023, and then fell in the following year.

In 2024, the Danish milk market decreased by -4.6% to $4.5B, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +1.1% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Milk consumption peaked at $5B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Dairy Price Index in World decreased to 142.20 Index Points in October from 147.20 Index Points in September of 2025. This dataset includes a chart with historical data for World Dairy Price Index.

According to Cognitive Market Research, the global Milk Market size was USD 951245.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 380498.20 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 285373.65 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 218786.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 47562.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 19024.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
The Liquid milk category is the fastest growing segment of the milk industry

Market Dynamics of Milk Market

Key Drivers for Milk Market

Increasing Health Awareness: The growing consumer inclination towards protein-rich diets is propelling the demand for milk, as it is perceived as a natural and nutritious source that supports growth, immunity, and overall wellness.

Rising Urbanization: The increase in urban populations is driving the demand for packaged and processed milk, bolstered by cold-chain logistics and organized retail, which ensure greater availability and convenience for everyday consumers.

Product Innovation: The introduction of flavored milk, fortified milk, and lactose-free options is enhancing market penetration, catering to various dietary requirements and broadening milk consumption beyond traditional household applications.

Key Restraints for Milk Market

Lactose Intolerance: The rising incidence of lactose intolerance among consumers worldwide is diminishing traditional milk consumption, posing challenges for dairy producers who depend significantly on regular milk sales.

Supply Chain Challenges: The requirement for efficient cold storage and transportation of milk presents challenges. Infrastructure deficiencies, particularly in developing areas, result in spoilage, which restricts distribution and overall market expansion.

Price Volatility: Fluctuations in milk prices, driven by feed costs, climate change, and supply-demand discrepancies, create instability for producers and uncertainty regarding consumer affordability.

Key Trends for Milk Market

Plant-Based Alternatives: The increasing prevalence of veganism and lactose intolerance is enhancing the popularity of almond, soy, and oat milk, posing challenges for dairy companies while encouraging diversification strategies.

Digital Retail Growth: The rise of e-commerce and subscription-based delivery services is improving milk accessibility, providing convenience and direct-to-home supply chains, particularly in urban areas.

Sustainability Focus: Consumers are showing a preference for ethically sourced, organic, and low-carbon milk. Producers are investing in eco-friendly packaging, renewable energy, and sustainable dairy farming practices to align with global environmental trends. Introduction of the Milk Market

Mammals' mammary glands generate milk, a milky liquid that is the main food supply for their offspring in the early stages of life. Proteins, lipids, carbohydrates (mostly lactose), and vitamins are among the many vital components that are abundant in this beverage. For babies and young mammals, milk provides a well-balanced combination of nutrients. It offers vital vitamins and minerals including calcium and vitamin D, as well as proteins needed for growth, energy-producing lipids, and lactose as a source of carbohydrates. Fresh milk is edible, but it can also be processed to make cheese, Yoghurt, butter, and ice cream, among other dairy products. Growing knowledge of the advantages of drinking milk for your health, including its nutritional content and function in a balanced diet, is propelling market.

In November 2023, Nestlé SA introduced N3, their first-to-market milk that is reduce...

According to Cognitive Market Research, the global Dairy Product market size was USD 501241.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 200496.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 150372.45 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 115285.55 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 25062.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 10024.83 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031.
The Milk category is the fastest growing segment of the Dairy Product industry

Market Dynamics of Dairy Product Market

Key Drivers for Dairy Product Market

Rising Global Demand for Nutritional Food: Consumers are progressively transitioning towards diets rich in protein and nutrients, which is increasing the demand for dairy products. Milk, cheese, yogurt, and butter are regarded as vital elements of a balanced diet.

Urbanization and Growth of Supermarkets: The development of retail infrastructure and cold chain logistics is enhancing the accessibility of packaged dairy products. Urban populations are propelling the consumption of value-added dairy items such as flavored milk and probiotic beverages.

Government Support and Subsidies for Dairy Farming: Numerous governments provide financial assistance, training, and subsidies to enhance milk production and dairy infrastructure. These programs contribute to stabilizing supply and improving the competitiveness of local producers.

Key Restraints for Dairy Product Market

Volatility in Milk Prices and Feed Costs: The fluctuating costs of animal feed and raw milk introduce uncertainty in production expenses and profit margins. This volatility impacts pricing strategies and the overall stability of the dairy supply chain.

Lactose Intolerance and Dietary Shifts: A considerable segment of the global population experiences lactose intolerance or opts for plant-based alternatives. This health issue is restricting dairy consumption, particularly in developed and health-conscious markets.

Stringent Regulations and Quality Standards: Adhering to food safety, hygiene, and labeling regulations necessitates ongoing monitoring and investment. Smaller producers frequently find it challenging to comply with these standards, which restricts their market access.

Key Trends for Dairy Product Market

Growth of Plant-Based and Lactose-Free Alternatives: Consumers are increasingly opting for soy, almond, oat, and lactose-free dairy products due to health, ethical, and environmental considerations. This trend is transforming the product offerings of conventional dairy companies.

Rising Popularity of Functional and Fortified Dairy: Products fortified with vitamins, probiotics, and minerals are gaining traction among health-conscious consumers. Functional dairy items like immune-boosting yogurt and protein-rich milk are in high demand.

Expansion of Online and Direct-to-Consumer Channels: E-commerce platforms and farm-to-home delivery models are revolutionizing how dairy products reach consumers. Digital sales channels offer convenience, freshness, and customization in product offerings.

Impact of Covid-19 on the Dairy Product Market

The coronavirus epidemic has had an impact on the world economy since governments all around the world implemented lockdowns to restrict travel. International travel and industrial operations were suspended as a result of these lockdowns. Nearly every industrial sector suffered greatly as a result of these actions. Labour shortages and supply chain failures also affected factories and manufacturing facilities. The dairy products industry's supply chain is still suffering greatly as a result of...

Get the latest insights on price movement and trend analysis of Whole Milk Powder (WMP) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In 2024, the farm gate price of fresh milk in Thailand amounted to around ***** Thai baht per kilogram. This was the highest price for fresh milk since 2013.

According to Cognitive Market Research, the global Skim Milk Powder market size was USD 116524.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 11.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 46609.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3753.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 26800.57 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 5826.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 2330.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.2% from 2024 to 2031.
The Instant category is the fastest growing segment of the Skim Milk Powder industry

Market Dynamics of Skim Milk Powder Market

Key Drivers for Skim Milk Powder Market

Increasing consumer awareness regarding health and nutrition to Boost Market Growth

Increasing consumer awareness regarding health and nutrition is significantly driving the skim milk powder market. As more people prioritize healthier lifestyles, they seek low-fat and nutrient-rich food options. Skim milk powder, being low in fat and high in protein, is perceived as a healthier alternative to whole milk, appealing to health-conscious consumers. Additionally, the growing trend of incorporating dairy products into balanced diets, particularly among athletes and fitness enthusiasts, has boosted demand for skim milk powder. Its versatility in various applications, including baking, cooking, and as a nutritional supplement, further enhances its attractiveness. Moreover, increased awareness of the benefits of calcium and vitamins found in skim milk powder supports its consumption, leading to a positive market outlook. For instance, to rejuvenate the well-established product category, Chinese dairy company Junlebao launched a new milk powder line called "Le Gai," designed to enhance calcium absorption for middle-aged and older consumers. According to the company, Le Gai milk offers 1200 mg of calcium per 100 g of powder, providing twice the calcium content compared to standard whole milk powder.

Growing consumption of dairy products to Drive Market Growth

The growing consumption of dairy products is a significant driver of the skim milk powder market. As dietary preferences shift towards healthier options, consumers increasingly favor dairy for its nutritional benefits, including high protein and essential vitamins. Skim milk powder serves as a versatile ingredient in various food applications, such as baked goods, confectioneries, and dairy-based beverages, catering to the rising demand for dairy-rich products. Additionally, the popularity of products like yogurt and cheese, which often incorporate skim milk powder, has surged, further fueling its consumption. Moreover, emerging markets are witnessing an increase in dairy consumption due to urbanization and changing lifestyles, contributing to the expanding skim milk powder market. This trend is supported by growing awareness of the health benefits associated with dairy intake.

Restraint Factor for the Skim Milk Powder Market

Fluctuations in milk prices will Limit Market Growth

Fluctuations in milk prices pose a significant restraint on the skim milk powder market. As the primary raw material for producing skim milk powder, any volatility in milk prices directly impacts production costs. When milk prices rise sharply, manufacturers may face increased operational costs, leading to higher prices for skim milk powder. This can reduce consumer demand as buyers seek more affordable alternatives or adjust their purchasing habits. Conversely, if milk prices drop, it may lead to oversupply, driving down prices and squeezing profit margins for producers. Such uncertainty can hinder long-term investments in the market and create challenges for suppliers in planning their production schedules, ultimately affecting the overa...

Australia Producer Price: Milk: Producer Price: Weighted Average data was reported at 72.000 0.01 AUD/l in 2024. This records a decrease from the previous number of 74.800 0.01 AUD/l for 2023. Australia Producer Price: Milk: Producer Price: Weighted Average data is updated yearly, averaging 27.068 0.01 AUD/l from Jun 1962 (Median) to 2024, with 63 observations. The data reached an all-time high of 74.800 0.01 AUD/l in 2023 and a record low of 5.200 0.01 AUD/l in 1962. Australia Producer Price: Milk: Producer Price: Weighted Average data remains active status in CEIC and is reported by Australian Bureau of Agricultural and Resource Economics and Sciences. The data is categorized under Global Database’s Australia – Table AU.P002: Agricultural Commodity Prices.