In 2023, the whole evaporated milk production in China stood at 78.66 thousand metric tons. The forecasted data for the subsequent years shows a gradual decline. By 2024, production is expected to be 78.09 thousand metric tons, a decrease of approximately 0.73% from the previous year. The trend continues with a production decrease of about 0.74% in 2025, 0.74% in 2026, 0.73% in 2027, and 0.71% in 2028.
When examining the period from 2023 to 2028, the Compound Annual Growth Rate (CAGR) is estimated to be -0.74%, indicating an average yearly decline in production. This suggests a consistent, albeit slow, downward trend in the whole evaporated milk production in China over the next five years.
Future trends to watch for:
- Impact of changing consumer preferences towards plant-based milk alternatives.
- Shifts in domestic dairy farming practices and technological advancements.
- Effects of government policies and regulations on the dairy industry.
- Market demand fluctuations due to economic factors and income levels.
