The household expenditure on dried infant milk in the UK has shown varied fluctuations over the past decade. From 2013 to 2014, there was a significant decline of 27.46%, followed by a substantial increase in 2015 by 41.89%. Subsequent years exhibited moderate fluctuations with occasional dips, such as in 2017 with a decrease of 13.54%. However, from 2018 onwards, the expenditure has generally increased, with a 2.02% year-on-year rise in 2023, reaching 8.88 pence per capita per week. The last five years (2019-2023) have seen an average annual growth rate of 2.07%.
Forecasts indicate a continued positive trend, projecting the household expenditure to rise to 9.71 pence by 2028, suggesting a 7.24% growth over the next five years, with an average annual growth of 1.41%.
Future trends to watch for include:
- Potential impacts of socioeconomic factors affecting household budgets.
- Possible changes in infant nutrition guidelines and regulations.
- Innovations and new product developments in the infant milk market.
