The consumption of fluid milk products in the US has shown a consistent decline from 2013 to 2023, with volumes decreasing from 164.64 pounds to 131.29 pounds. The year-on-year percentage variations indicate significant drops, most notably between 2014 (-3.71%) and 2022 (-3.86%) specifically. A slight recovery was noted in 2021 with a 0.02% increase, but it was followed by a substantial decline in 2022 (-3.86%) and another drop in 2023 (-1.94%). The compound annual growth rate (CAGR) over the past five years averages to -1.95%.
Looking forward, the forecast indicates a continued downward trend. By 2028, consumption is expected to decrease to 117.89 pounds, reflecting a five-year forecast CAGR of -1.73% and an overall forecast 5-year growth rate of -8.35%. Future trends to watch for include shifts in consumer preferences towards plant-based milk alternatives, potential health trends influencing dairy consumption, and the impact of dairy industry innovations aimed at reversing declining consumption patterns.
