The import of fermented milk products to the Philippines in 2024 stands at 94.077 million US dollars based on forecasted data. Compared to 2023, there was a quantitative increase from an actual 2023 value. The import value is predicted to follow an upward trajectory over the coming years, with values expected to reach 95.669 million in 2025, 97.23 million in 2026, 98.759 million in 2027, and 100.26 million in 2028.
The year-on-year percentage increase from 2024 to 2025 is approximately 1.7%, from 2025 to 2026 is about 1.6%, from 2026 to 2027 is around 1.6%, and from 2027 to 2028 is about 1.5%. Over these forecasted years, the average annual growth rate (CAGR) stands at roughly 1.6%.
Future trends to watch for include potential shifts in consumer preferences, government trade policies affecting imports, and the impact of local dairy production on import volumes. Additionally, economic factors such as changes in disposable income levels and currency exchange rates could influence import values. Monitoring these trends will provide insights into market dynamics and help anticipate future developments.
