In 2023, China imported 396.0 thousand metric tons of nonfat dry milk. The forecasted import volumes show a consistent year-on-year increase: 3.5% in 2024, 3.9% in 2025, 4.0% in 2026, 3.6% in 2027, and 3.5% in 2028. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is 3.7%, indicating stable growth in imports.
Future trends to watch for:
- An increase in domestic dairy consumption driven by urbanization and changing dietary preferences.
- Potential impacts from fluctuating global dairy prices and trade policies.
- Technological improvements in local dairy production that could impact import dependency.
- Environmental regulations affecting dairy production and importation standards.
