The production of whole milk powder (WMP) in Sweden has exhibited significant fluctuations over the past decade, peaking in various years and then declining sharply, with notable dips in 2016 and 2017. 2018 showed a substantial recovery with a 45.54% increase, followed by a plateau in growth through 2023, which stood at 35.34 thousand metric tons. In more recent years, year-on-year growth rates have been modest, with a 4.12% increase in 2023. The compound annual growth rate (CAGR) for the last five years was 0.72%, reflecting a relatively stable but slow-growing market.
Looking ahead, the forecasted data from 2024 to 2028 suggests relatively steady growth with a CAGR of 0.49%. This steady but moderate growth implies that the market is stabilizing after previous periods of volatility.
Future trends to watch for:
- Consumer demand shifts towards non-dairy alternatives, potentially impacting WMP production volumes.
- Technological advancements in dairy farming and production efficiency that could boost output.
- Export market opportunities or trade policy changes influencing production levels.
