Between 2013 and 2023, Denmark experienced significant fluctuations in skimmed cow milk production. Starting at 1.66 million metric tons in 2013, production saw drastic year-on-year declines, particularly notable in 2014 with a -48.8% decrease.
By 2023, production stood at 0.33582 million metric tons, marking a continued downward trajectory influenced by -15.12% year-on-year variation. Over the last two years, variation rates remained negative, with a -13.37% in 2022 and -15.12% in 2023. The five-year compound annual growth rate (CAGR) indicates a steep decline of -12.3%.
Looking ahead, from 2024 onward, the departure from historical data into forecast values suggests an accelerating decline. Production is expected to plummet further, culminating in an almost negligible 0.02326 million metric tons by 2028. The forecast 5-year CAGR stands at -38.77%, leading to a forecasted growth rate of -91.39% through this period.
Future trends to watch for include potential shifts in dairy industry policies, technological advancements in farming, and changes in consumer preferences for dairy alternatives which could strongly influence these projections.
