The domestic consumption of Nonfat Dry Milk in the US shows a declining trend from 2024 through 2028. Compared to the actual consumption in 2023, the forecasted figures for 2024 indicate a decrease. The year-on-year variations depict a consistent decline, with a notable drop of 0.78% in 2025 and a further 0.52% by 2026. From 2026 to 2027, the consumption is expected to reduce by 0.52%, and from 2027 to 2028, it is forecasted to decrease by 0.53%. The Compound Annual Growth Rate (CAGR) over the five-year period is -0.47%, indicating a gradual, consistent reduction in consumption.
Future trends to watch for include potential changes in consumer preferences towards alternative dairy products, fluctuations in the prices of dairy commodities, and regulatory changes that could affect production and consumption. Additionally, global trade dynamics and advancements in dairy technology may also play significant roles in shaping the market landscape.
