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.

Milk rose to 17.65 USD/CWT on September 19, 2025, up 0.06% from the previous day. Over the past month, Milk's price has risen 1.38%, but it is still 24.35% 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 September of 2025.

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

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.

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 global whole fresh milk market expanded slightly to $825.4B in 2024, with an increase of 4.8% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2024 and is likely to continue growth in years to come.

The price per unit in the 'Milk Substitutes' segment of the food market worldwide was modeled to stand at **** U.S. dollars in 2024. Between 2018 and 2024, the price per unit rose by **** U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The price per unit will steadily rise by **** U.S. dollars over the period from 2024 to 2030, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Milk Substitutes.

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

In the 52 weeks ending on November 30, 2024, the average price of one liter of semi-skimmed milk was ** pence per liter in the UK. Plant-based alternatives cost over *** British pounds.

Monthly average retail prices for selected products, for Canada and provinces. Prices are presented for the current month and the previous four months. Prices are based on transaction data from Canadian retailers, and are presented in Canadian current dollars.

This graph depicts the Consumer Price Index (CPI) of dairy products and eggs in France from May 2020 to August 2025. In May 2020, the CPI reached 103.72, while in August 2025, it had increased, reaching 132.78.

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...

The Egyptian skim milk market dropped slightly to $840M in 2024, reducing by -3.5% against the previous year. In general, the total consumption indicated tangible growth from 2012 to 2024: its value increased at an average annual rate of +2.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +5.0% against 2022 indices.

Statistics illustrates prices of milk in Indonesia from 2007 to 2024.

Statistics illustrates prices of milk in Africa from 2007 to 2024.

Dairy Price Index in World decreased to 152.60 Index Points in August from 154.60 Index Points in July of 2025. This dataset includes a chart with historical data for World Dairy Price Index.

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...