The forecasted evaporated and condensed milk consumption in the US shows a gradual decline from 2024 through 2028, moving from 6.57 pounds in 2024 to 6.45 pounds in 2028. This represents an average year-on-year decrease of approximately 0.5%. In 2023, the consumption stood at 6.60 pounds, indicating an ongoing trend of reduction. Over the next five years, the compound annual growth rate (CAGR) is expected to reflect these consecutive declines in consumption volumes.
Future trends to watch for include potential shifts in consumer preferences towards alternative milk products, changes in dietary habits influenced by health trends, and possible impacts of economic factors such as price fluctuations and income changes. Additionally, sustainability concerns and environmental awareness may also affect consumption patterns in the dairy industry.
