The dairy products turnover in Norway, valued at 2.24 Billion Euros in 2023, is forecasted to decline steadily from 2024 to 2028. Forecasted values in billion euros are: 2024 (2.09), 2025 (2.0), 2026 (1.91), 2027 (1.82), and 2028 (1.74). The year-on-year variation shows a consistent decline: -4.3% (2024), -4.3% (2025), -4.5% (2026), -4.7% (2027), and -4.4% (2028). The compound annual growth rate (CAGR) over the latter five-year period is -4.4%.
Future trends to watch for include potential influences of global dairy market trends, changing consumer preferences towards plant-based alternatives, and potential regulatory impacts on dairy farming and production. These factors could either amplify the declining trend or potentially stabilize the market depending on how they evolve.
