The consumption of nonfat dry milk in India is forecasted to show a steady increase over the next five years from 765 thousand metric tons in 2024 to 876 thousand metric tons in 2028. Compared to 2023, projections indicate a robust growth trajectory. Year-on-year growth rates reveal gradual increases: 3.66% in 2025, 3.53% in 2026, 3.29% in 2027, and 3.30% in 2028. The compound annual growth rate (CAGR) over the forecasted period from 2024 to 2028 is approximately 3.44%.
Future trends to watch for include:
- Rising health consciousness and dietary shifts towards low-fat alternatives could drive consumption further.
- Government and industry initiatives to strengthen dairy supply chains may enhance availability.
- Economic factors, such as disposable income growth, will likely impact the trend positively.