Analysis of the processed milk market in Italy shows a clear declining trend from 2013 to 2023, with volumes shrinking from 5.0042 billion kilograms in 2013 to 3.8486 billion kilograms in 2023. The market experienced significant year-on-year declines, punctuated by occasional small recoveries. The variations over the last two years highlight continued decreases, with -2.23% in 2023.
The Compound Annual Growth Rate (CAGR) over the last five years leading to 2023 is approximately -1.87%, indicating a consistent downturn. Forecasts for 2024 to 2028 predict a continued decrease, with the volume expected to reach 3.4237 billion kilograms by 2028, signifying a further overall decline of 8.99% over the period.
Future trends to watch for include changes in consumer preferences towards alternative milk sources, potential regulatory impacts, technological advancements in milk processing, and economic factors such as inflation and cost of production that might further influence the market dynamics.
