The import of milk with a fat content of 1-6% to Singapore is on a steady rise. The values are forecasted to grow from $105.95 million in 2024 to $118.75 million by 2028, demonstrating an incremental year-on-year increase. The year-on-year variation from 2025 to 2028 ranges approximately from 3% to 3.5%, indicating a stable upward trend. For reference, in 2023, the import value was $102 million. The Compound Annual Growth Rate (CAGR) over the next five years is projected to be around 3%, illustrating consistent growth.
Future trends to watch for include:
- Potential changes in consumer preferences and dietary trends.
- Fluctuations in global milk prices and trade policies.
- Impact of local dairy industry developments and sustainability initiatives.
