The domestic consumption of fluid milk in China is forecasted to grow steadily from 44.69 million metric tons in 2024 to 51.76 million metric tons in 2028. This represents a consistent year-on-year increase with the highest growth projected at 4.12% in 2028 compared to the previous year. The compound annual growth rate (CAGR) over these five years is approximately 3.03%, indicating robust demand in the sector. As of 2023, the actual consumption stood lower, depicting this upward trend beginning in 2024.
Future trends to watch for include:
- Increased urbanization and rising middle-class income leading to higher dairy consumption.
- Government policies targeting nutrition improvement that can boost milk consumption.
- Potential competition from plant-based milk alternatives affecting fluid milk market share.
- Technological advancements in dairy farming enhancing production efficiency.
