The dairy products turnover in Spain exhibited fluctuations between 2013 and 2023, with values stabilizing in recent years. In 2023, the turnover stood at 9.63 Billion Euros. After a period of volatility, the market saw a minor decline with a year-on-year decrease of 0.33% in 2023. The five-year CAGR leading up to 2023 was -0.34%, indicating a slight downtrend.
Key historical variations include a significant drop in 2015 with a -4.5% decrease, followed by notable growth in 2017 at 6.85%. The period of 2018 to 2020 showed steady growth, with 2020 marking a peak despite a minor dip in subsequent years.
From 2024 onwards, the forecast suggests a gradual decrease in turnover, with an average yearly decline (CAGR) of -0.24% through 2028. The market is expected to shrink by approximately 1.19% over the next five years.
Future trends to watch for include the impact of consumer shifts towards plant-based alternatives, potential regulatory changes affecting production, and economic factors influencing consumer spending power. Keeping an eye on innovation within the dairy sector and broader dietary trends will be critical for anticipating future market dynamics.
