In 2023, the supply of Nonfat Dry Milk in South Korea stood at 30.0 thousand metric tons. The forecasted data for the years 2024 to 2028 indicate a slight decline in supply. The supply is expected to remain stable at 29.0 thousand metric tons from 2024 to 2026, then decrease to 28.0 thousand metric tons from 2027 onwards.
Year-on-year variation and trend analysis:
- From 2023 to 2024: -3.3%
- From 2026 to 2027: -3.4%
- Over the last five years (2023-2028), the compound annual growth rate (CAGR) is approximately -1.4% per year.
Future trends to watch:
- Monitor changes in domestic dairy production policies and their impact on supply.
- Keep an eye on international trade agreements affecting dairy imports.
- Consider potential effects of demand fluctuations due to dietary trends or shifts in consumer preferences.
