From 2013 to 2023, the UK's condensed milk market volume per capita showed gradual growth. Starting at 0.38 kg in 2013, there was a slight decline to 0.36 kg in 2015, stabilizing through 2016. From 2017, consumption began rising, reaching 0.48 kg in 2023. The past two years saw a modest year-on-year increase, reflecting steady consumption habits. The compound annual growth rate (CAGR) over the last five years was indicative of mild growth in the market.
Future trends to watch for include:
- Potential shifts in consumer preferences towards plant-based alternatives.
- Possible market expansion driven by innovative product developments.
- Price fluctuations impacting consumer behavior and purchasing patterns.
