In 2023, China's domestic consumption of dry whole milk powder stood at around 1.70 million metric tons. Forecasts indicate a gradual increase in consumption to 1.73 million metric tons in 2024, reaching approximately 1.83 million metric tons by 2028. The year-on-year growth from 2023 to 2024 is about 1.76%, showing a slow but steady positive trend. The Compound Annual Growth Rate (CAGR) for the five-year period from 2024 to 2028 is roughly 1.43% per year, indicating modest growth in dry whole milk powder consumption over the forecasted years.
Future trends to watch for include shifts in consumer preferences potentially influenced by health trends, government policies on dairy consumption, and the impact of any economic or demographic changes in China that could either bolster or hinder the demand for dry whole milk powder.
