Sales of dry milk products and mixtures in the US have shown fluctuating performance from 2013 to 2023. In 2023, the market size stood at 11.087 billion USD. The market experienced significant drops in 2015 and 2016, followed by varying growth rates. Recent years have displayed moderate growth, with a year-on-year percentage change of 1.57% in 2023. Analyzing the last two years, there was a decline of 0.36% in 2022 and a subsequent moderate rise in 2023. The CAGR over the last five years up to 2023 remained relatively modest at 1.69%.
The forecasted data from 2024 to 2028 indicates a steady growth trend, with a 5-year CAGR projected at 1.11% and an overall growth rate of 5.65% during this period. Future trends to watch for include potential market impacts regarding changes in consumer preferences, health regulations, and advances in product formulations which may influence market dynamics.
