The forecast for the UK import of milk powder from 2024 to 2028 shows a consistent declining trend. In 2023, imports stood at USD 64 million. From 2024 to 2028, there is a projected decrease in import value from USD 62.45 million to USD 56.251 million, indicating a gradual reduction in expenditure on milk powder imports by approximately 4% year-on-year and a CAGR of approximately -2.6% over the five years.
Future trends to watch for include:
- Potential changes in domestic milk production capabilities, which could impact import dependency.
- Trade policy adjustments post-Brexit that might alter import costs or volumes.
- Influence of global dairy market conditions, including supply disruptions or price volatility.
- Evolving consumer preferences towards plant-based alternatives which might further reduce demand for milk powder imports.
