Attracting Investment in the Modernization of Ukrainian Dairy Enterprises as a Tool for Sustainable Development

Production of dairy products is a crucial component of food security. The situation in the dairy sector affects not only the supply of the population with dairy products but also the overall sustainable development of the country. The main purpose of this publication is to determine the forecasted need for investment in innovations for Ukrainian enterprises engaged in the production of milk and cream in order to achieve sustainable development goals. The study employed the following economic research methods: the inductive method—for collecting, systematizing, and processing information; the deductive method—for theoretical interpretation of the problem; analysis and synthesis—for assessing the investment attractiveness of dairy enterprises and examining the components of sustainable development and their interrelationships. The primary data on enterprises engaged in the production of milk and cream were collected and systematized for large, medium, and small enterprises based on the information from the State Statistics Service of Ukraine. The study substantiates the impact of investments in the modernization of the dairy industry on achieving sustainable development goals. Integral indicators of the investment attractiveness of Ukrainian milk and cream producers were calculated, revealing that large enterprises are the most suitable for absorbing investments aimed at production modernization. An analysis of milk and cream production volumes by large enterprises in Ukraine for 2014–2024 was conducted, demonstrating that in 2023–2024, production began to grow after the crisis of 2021–2022. Based on historical production dynamics, a forecast for 2026–2030 was developed. It was determined that under the pessimistic scenario, production will reach 291.79 thousand tons in 2030, under the realistic scenario, 349.84 thousand tons, and under the optimistic scenario, 407.88 thousand tons. The key factors influencing the pessimistic, realistic, and optimistic projections were identified. Since the realistic scenario enables the most comprehensive consideration of influencing factors, the calculation of investment needs for the modernization of large milk and cream producers was based on this scenario. It was established that to meet EU product quality standards, comply with sustainable development goals, and accommodate the projected increase in production, the total investment required for the modernization of large enterprises engaged in the production of milk and cream in Ukraine should amount to 126 million euros by 2030.