From 2013 to 2023, the production of milk-based drinks in Spain showed a fluctuating trend, with an initial increase until 2016, followed by a general decline. In 2023, production stood at 251.54 thousand metric tons. The last two years evidenced a notable reduction, with year-on-year decreases of 24.98% in 2022 and 11.72% in 2023. Observing the average change over the last five years, the compound annual growth rate (CAGR) was -11.56%, indicating a significant overall decline.
Forecasts suggest a continuing downward trend in milk-based drinks production in Spain, with a projected CAGR of -10.88% over the next five years, resulting in a forecasted production volume of 119.42 thousand metric tons by 2028. Key factors to monitor include consumer preference shifts towards plant-based alternatives, health and environmental considerations influencing dietary choices, and potential technological advances in the dairy industry.
