In 2023, the distribution of dry whole milk powder in the Philippines stood at 20.0 thousand metric tons. The forecasted data from 2024 to 2028 indicate a consistent decline. The volume is projected to decrease from 19.0 thousand metric tons in 2024 to 16.0 thousand metric tons by 2028.
The year-on-year variations show a steady reduction:
• 2024: -5%
• 2025: -5.26%
• 2026: -5.56%
• 2027: 0%
• 2028: -5.88%
Over the past two years, there has been a decline of 6% from 2022 to 2023. The CAGR for the period 2023-2028 signifies an average annual decrease of approximately 4.38%.
Future trends to watch for include:
• Potential shifts in domestic consumption patterns.• Policy changes affecting import and production.• Developments in the dairy industry and alternative milk products.
