In 2023, the US skimmed dried milk production stood at 1203.2 Thousand Metric Tons. From 2013 to 2023, the production showed a general upward trend with fluctuations. Key variations include a notable increase of 9.47% in 2014 and a sharp decline of 3.15% in 2020. The five-year CAGR from 2018 to 2023 was 1.87%, indicating a moderate growth rate in recent years.
Future trends to watch for include:
- Forecasted production for 2028 is 1311.5 Thousand Metric Tons, indicating a continued growth trajectory.
- The five-year forecasted CAGR is expected at 1.34%, showing steady but modest growth.
- Overall growth from 2023 to 2028 is forecasted at 6.86%.