The forecast for Nonfat Dry Milk (NDM) domestic consumption in Australia shows a steady value of 30 Thousand Metric Tons annually from 2024 to 2028. This consistent figure indicates that there are no expected changes in the consumption levels during this period.
Looking at the year-on-year variation, since the consumption remains stable at 30 Thousand Metric Tons across these years, the percentage change is 0%. For the past two years leading up to 2023, the trends were similarly stable, with no significant fluctuations in consumption levels. The Compound Annual Growth Rate (CAGR) over the past five years is effectively 0%, underscoring a sustained pattern with no growth or decline.
Future trends to watch for include potential shifts in consumer preferences towards plant-based alternatives, which might affect dairy consumption. Additionally, changes in economic conditions or dairy industry innovations could also impact these forecasts. Monitoring these factors will be key to understanding any future deviations from the current steady trend.
