Analyzing the forecasted data for dry whole milk consumption in the US from 2024 to 2028, we observe a consistent upward trend. The consumption is projected to grow from 0.35 pounds per capita in 2024 to 0.38 pounds per capita in 2028. This represents a steady increase and suggests a gradual rise in demand. The year-on-year variation indicates slight increments of approximately 2.8% from 2024 to 2025, 2.78% from 2025 to 2026, and no change in 2027 before a 2.70% rise in 2028.
Looking back at the actual data for 2023, we find that consumption stood at 0.34 pounds per capita. Over the last two years, this has increased by approximately 2.94% annually. The compound annual growth rate (CAGR) over the five-year forecast period is around 2.1%, reflecting moderate but consistent growth.
Future trends to watch for in the dry whole milk market include potential shifts in consumer preferences towards healthier or alternative dairy options, the impact of economic factors on household spending, and possible innovations in product offerings that could further stimulate demand.
