The whole dried milk production in Mexico has demonstrated a steady upward trend from 2013 to 2023, beginning at 113.1 thousand metric tons in 2013 and reaching 164.08 thousand metric tons in 2023. This represents a compound annual growth rate (CAGR) of approximately 1.91% over the last five years. In 2023, production was slightly up by 1.76% compared to the previous year.
Key variations over the years include:
- 2014 had a notable increase of 22.12% year-on-year.
- 2019 experienced a slight decline by -3.12%, overcoming this in 2021 with a robust 7.26% increase.
- The CAGR for the years leading to 2023 remained modest at around 1.91%.
Forecasts from 2024 to 2028 indicate continuous growth, with a forecasted 5-year CAGR of 1.36% and an overall 7% growth rate. Future trends to be mindful of include potential impacts of climate change on milk production, market demand fluctuations, and technological advancements in dairy farming which could affect production efficiency.
