The whole dried milk production in Denmark has shown a general downward trend from 2013 to 2023. Starting at 92.8 thousand metric tons in 2013, it saw a steady decline, amounting to 76.8 thousand metric tons in 2023. A year-on-year variation reveals fluctuations, such as a notable decline in 2020 by 6.42% and minor increases like the 3.69% in 2021. Over the last five years, the compound annual growth rate (CAGR) averaged -1.49%, indicating a consistent reduction.
Future trends show that the production is expected to continue its downward trajectory, projected to reach 70.8 thousand metric tons by 2028. This forecast translates to a 5-year CAGR of -1.29% and an overall decline of 6.28% during the period.
Future trends to watch for include:
- Potential market shifts due to global supply chain disruptions affecting raw materials and production capacity.
- Changing consumer preferences towards alternative milk products, impacting demand for whole dried milk.
- Technological advancements in milk production and processing methods could influence future production efficiencies and volumes.
