The production of skimmed dried milk in North America has seen fluctuations over the years. From 2013 to 2023, actual values grew steadily overall, reaching 1.3241 million metric tons in 2023. Variations over the years include a significant drop in 2020 (-3.15%) attributed to market disruptions, followed by a recovery in 2021 (9.38%). The last two years saw moderate changes, with 2022 witnessing a slight decrease (-0.19%) and an increase in 2023 (1.73%). The last five-year Compound Annual Growth Rate (CAGR) stands at 1.88%.
Future forecasts from 2024 to 2028 predict a continued rise in production, with an average increase of 1.34% per year, amounting to a total growth of 6.87% over this period.
Future trends to watch for include potential impacts of technological advancements in dairy processing, shifts in consumer preferences for dairy alternatives, and regulatory changes affecting milk production standards.
