The purpose of the article is to analyze the current features of global production and trade in dairy products, to determine the basic factors causing transformations in the processing industry, to outline the directions of development of the world dairy industry and trade in dairy products.

Research methods. Based on the dialectical method of cognition, general scientific research methods were used, namely: abstractlogical (to generalize and formulate conclusions) monographic (when studying the state and features of the functioning of the global dairy industry and trade in dairy products), comparative analysis (to compare the indicators of production and trade in dairy products among different countries); expert assessments (when outlining the prospects for the world development of production and trade in dairy products, based on expert opinions of leading international organizations); statistical groups (when grouping the countries according to the share of processed milk and the level of dairy industry consolidation); graphic (for visualization of the results of statistical analysis), as well as a systematic approach, analysis and synthesis, induction and deduction, and others in the field of economic research.

Research results. An economic assessment of the world dairy industry and trade in dairy products was carried out based on an analysis of the volumes of milk delivered to processors, dynamics of dairy product production, and characteristics of leading milk processing companies and the main exporting and importing countries. The level of the dairy industry consolidation by countries was determined, depending on which 3 types of dairy products markets were defined: monopsonic, oligopsonic and fragmented. The influence of milk self-sufficiency on the structure of foreign trade in dairy products is revealed. The prospects for the development of the world dairy products production and trade, based on new and traditional trends inherent in the modern dairy world, are justified.

Elements of scientific novelty. The main factors of influence on the development of the global dairy industry are identified that stimulate it to further structural changes - population growth, urbanization, income growth, improved diets in the direction of increasing milk proteins, and changing consumer behavior. It has been established that self-sufficiency in the country's milk is a determining factor in the formation of foreign trade in dairy products in the world.

Practical significance. The results of a study on the development of the production and trade in dairy products can be used by interested participants of Ukrainian dairy subcomplex when developing strategic plans for their work both in the near and in the future.