Updates of current and projected estimates of the burden are critical to monitoring the success of ongoing efforts in breast cancer control, such as the World Health Organization Global Breast Cancer Initiative, which aims to reduce breast cancer mortality by 2.5% per year. We investigated the current (2022) and future (2050) global burden of female breast cancer overall, and by age group, in 185 countries using the GLOBOCAN database, and 10-year trends in incidence and mortality rates in 50 and 46 countries, respectively, using the Cancer Incidence in Five Continents plus and World Health Organization mortality databases. Globally, 2.3 million new cases and 670,000 deaths from female breast cancer occurred in 2022. Annual rates increased by 1–5% in half of examined countries. Mortality rates decreased in 29 countries with very high Human Development Index (HDI), and seven countries (for example, Belgium and Denmark) are meeting the Global Breast Cancer Initiative goal of at least a 2.5% decrease each year. By 2050, new cases and deaths will have increased by 38% and 68%, respectively, disproportionately impacting low-HDI countries. High-quality cancer and vital status data, and continued progress in early diagnosis and access to treatment, are needed in countries with low and medium HDI to address inequities and monitor cancer control goals. Global analyses of breast cancer incidence and mortality show that only seven high-income countries are currently meeting the targets of the World Health Organization Global Breast Cancer Initiative in reducing the rate of breast cancer mortality by 2.5% per year, but cases and deaths are increasing and disproportionately affecting countries with low Human Development Index.