The consumption of flavored lower-fat and skim milk in the US has shown a general decline from 2013 to 2023. In 2023, the value stood at approximately 11.51 unit pounds. Analyzing year-on-year variations, there are periods of both increase and decrease, with notable declines in 2018 and 2019. More recently, from 2021 to 2022, there's been a declining trend, with a slight dip of 0.11% in 2023. The compounded annual growth rate (CAGR) over the last five years suggests a moderate decline at -0.37%.
Looking forward, the forecasted CAGR for the next five years is -0.09%, indicating a continued but slower decline in consumption. Monitoring key trends could offer insights into emerging consumer preferences.
Key future trends to watch for:
- Changing consumer preferences towards plant-based milk alternatives.
- Health trends promoting lower sugar intake, impacting flavored milk consumption.
- Innovations and marketing efforts by dairy producers to revitalize the category.
- Economic factors influencing consumer spending on flavored milk products.
