Forecasted nonfat dry milk supply in the US shows steady growth from 2024 to 2028. In 2023, the supply stood at 1.35 million metric tons. Year-on-year variations indicate marginal increases: 0.7% in 2025, 1.5% in 2026, 0.7% in 2027, and 0.7% in 2028. The compound annual growth rate (CAGR) for 2024-2028 is calculated at 1.1%.
Future trends to watch for:
- Potential impacts of agricultural policies and trade agreements.
- Technological advancements in dairy production efficiency.
- Shifts in consumer preferences towards plant-based alternatives.
