The supply of dry whole milk powder in Australia is forecasted to decrease from 2024 to 2028, starting at 96.0 thousand metric tons in 2024 and dropping by 2.0 thousand metric tons each subsequent year, reaching 88.0 thousand metric tons by 2028. This series represents a steady decline with a year-on-year decrease of approximately 2.08% to 2.22% annually over the forecast period. Overall, from 2024 to 2028, this results in a compound annual growth rate (CAGR) of approximately -2.17%.
In 2023, the actual supply stood at 98.0 thousand metric tons.
Future trends to watch for include:
-Global demand shifts for dairy products, particularly influenced by changing dietary preferences and economic conditions.
-Australia's domestic milk production capabilities and potential technological advancements in dry whole milk powder production.
-Trade policies and international market access that could impact export volumes.
