The skimmed milk powder (SMP) production in Denmark has seen significant fluctuations over the past decade. The trends from 2013 to 2023 illustrate various market dynamics affecting production volumes. Starting at 46.1 thousand metric tons in 2013, the production experienced a notable decline until 2015, hitting 34.2 thousand metric tons. A peak of 60 thousand metric tons was observed in 2018, followed by some drops and recoveries, settling at 39.7 thousand metric tons in 2023. Between 2023 and 2028, the forecast indicates a stabilization at 39.7 thousand metric tons.
Key Variations:
- 2013: +15.83% year-on-year
- 2014: -12.8% year-on-year
- 2015: -14.93% year-on-year
- 2016: +28.07% year-on-year
- 2017: +9.82% year-on-year
- 2018: +24.74% year-on-year
- 2019: -8.83% year-on-year
- 2020: -7.31% year-on-year
- 2021: -18.74% year-on-year
- 2022: -6.55% year-on-year
- 2023: +3.12% year-on-year
The compound annual growth rate (CAGR) over the last five years leading to 2023 was -7.93%, indicating a decline trend. However, the forecasting trends from 2024 to 2028 highlight a stable production level without significant year-on-year growth, reflecting a potential market stabilization.
Future Trends to Watch:
- Stabilization of SMP production at 39.7 thousand metric tons.
- Possible impacts of advancements in dairy technology and farming efficiency.
- Changes in global trade policies affecting export demand.
- Shifts in consumer preferences towards non-dairy alternatives.
- Environmental regulations influencing dairy farming practices.
