Analysis of forecasted household expenditure on fully skimmed milk in the UK indicates a steady decline from 7.43 pence per capita per week in 2024 to 7.01 pence in 2028. Comparing with 2023, the data suggests a continuation of a decreasing trend. The year-on-year percentage change is approximately -1.48% annually.
Over the five-year forecast period, the compound annual growth rate (CAGR) is -1.5%, indicating a gradual reduction in expenditure. This may reflect changing consumer preferences or shifts toward alternative milk products.
Future trends to watch for include:
- Increased consumption of plant-based milk alternatives.
- Price fluctuations due to supply chain challenges.
- Potential shifts prompted by health and wellness trends.
