Between 2013 and 2023, the dairy and cheese processing turnover in Finland has shown a general downward trend, starting from 2.55 billion Euros in 2013 and gradually decreasing to 2.13 billion Euros in 2023. The turnover saw a significant drop in 2015 by 9.59%, followed by a slower reduction rate in subsequent years. Despite minor positive changes in certain years like 2017 and 2018, the overall trend has been negative.
In the last two years, the year-on-year variation was -0.58% for 2022 and -0.57% for 2023, indicating a persistent decline. The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) has been around -0.47%, supporting the downward trend.
Future forecasts from 2024 to 2028 continue this decline with a projected CAGR of -0.48% and an overall five-year growth rate of -2.38%. One should monitor the impacts of technological advancements, changes in consumer preferences, and international trade policies, which could significantly affect the industry's turnover trajectory.
