From 2013 to 2016, the milk drinks market in the UK experienced a general decline in value, followed by a significant increase in 2017. This upward trend continued until 2018, but saw a slight dip in 2019 and 2020. The value then rose again in 2021 and 2022, reaching 519.58 million euros in 2023. Forecasts suggest a steady growth trend from 2024 to 2028, with a projected 5-year CAGR of 1.04% and an overall 5-year growth rate of 5.3%.
Future trends to watch for:
- Innovations in product varieties
- Influence of health and wellness trends
- Impact of sustainability efforts
- Market dynamics from changing consumer preferences
