The forecast for the processed milk market size in the UK shows a declining trend from 2024 to 2028. Starting from 92.27 kilograms per capita in 2024, the consumption is predicted to decrease to 89.76 kilograms per capita by 2028. Given that the yearly consumption in 2023 was 92.85 kilograms per capita, this represents a consistent year-on-year decrease.
Year-on-year variations:
- 2024: -0.62% compared to 2023
- 2025: -0.70%
- 2026: -0.69%
- 2027: -0.69%
- 2028: -0.66%
The compound annual growth rate (CAGR) over the five years from 2023 to 2028 is approximately -0.69% per year.
Future trends to watch include a potential shift towards plant-based milk alternatives, given the current consumer shift towards healthier and environmentally-friendly options. Monitoring changing consumer preferences and technological advancements in dairy and non-dairy production could be crucial for adapting to market demands.
