In 2023, the consumption of lower-fat and skim milk in the US stood at 71.84 pounds. An analysis of historical data reveals a consistent decline in the consumption of lower-fat and skim milk over the past decade. The year-on-year variation from 2013 to 2023 shows an average annual decrease, with noticeable drops ranging from -0.76% to -4.02% in various years. The most recent two years (2022-2023) showed a -1.8% decline from the previous year.
The compound annual growth rate (CAGR) over the past five years stands at approximately -1.98%. Looking forward, the projected data indicates a continued decline in consumption, with a forecasted 5-year CAGR of -1.6% and an overall decrease of 7.73% by 2028.
Future trends to watch for include shifts towards plant-based milk alternatives, increasing health consciousness among consumers, and innovations in dairy product formulations that may influence the consumption of traditional lower-fat and skim milk.
