The production of whole dried milk in the US has shown significant fluctuations over the past decade, with an overall upward trend. In 2023, the production stood at 64.06 thousand metric tons. Notable year-on-year variations include a peak increase of 24.44% in 2017 after a dip of -8.16% in 2016. More recent trends, from 2021 to 2023, show moderate growth with year-on-year increases of 10.57%, 0.82%, and 2.7%, respectively.
From 2024 onwards, forecasted data indicates steady growth, with production expected to reach 72.92 thousand metric tons by 2028. This represents a forecasted 5-year CAGR of 2.02% and an overall growth rate of 10.5% from 2023 to 2028.
Future trends to watch for:
- Impact of global dairy market dynamics and trade policies.
- Technological advancements in dairy production and processing.
- Changing consumer preferences towards dairy and plant-based alternatives.
- Environmental regulations and sustainability initiatives in dairy farming.
