In 2023, household expenditure on milk and milk products in the UK stood at 186.42 Pence Sterling per capita per week. The forecasted data from 2024 to 2028 shows a steady increase, with expenditures growing from 187.14 to 189.98 Pence Sterling. The year-on-year variation indicates a consistent, modest growth rate of approximately 0.4% annually over the period 2024-2028. The compound annual growth rate (CAGR) over these five years is 0.5%, reflecting steady consumer demand.
Future trends to monitor include potential shifts in consumer preferences towards plant-based alternatives, economic factors affecting disposable income, and changes in milk production costs, which could influence household expenditure patterns.
