The processed milk market in the UK is experiencing a steady decline in value per capita, which was recorded at 71.23 euros in 2023. Forecasted figures show a reduction from 70.27 euros in 2024 to 66.72 euros by 2028. This represents an annual average decline or Compound Annual Growth Rate (CAGR) of approximately 1.35% over the next five years.
Year-on-year variations reveal the following:
- 2024 to 2025: -1.29%
- 2025 to 2026: -1.30%
- 2026 to 2027: -1.29%
- 2027 to 2028: -1.27%
Future trends to watch for include a potential shift in consumer preferences towards plant-based milk alternatives, stricter regulations related to dairy farming, and fluctuating economic conditions affecting purchasing power. These factors could further impact the market size and growth trajectory.
