In 2023, China's import value of concentrated or sweetened milk and cream stood at 2.78 billion USD. The forecast for 2024 suggests an increase to 2.86 billion USD, reflecting a 2.75% year-on-year growth. The subsequent years demonstrate a steady upward trend: 2.94 billion in 2025, 3.01 billion in 2026, 3.09 billion in 2027, and reaching 3.17 billion by 2028. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 2.61%, indicating a consistent positive growth trajectory over the five-year forecast period.
Future trends to watch for include:
- The potential impact of China's increasing domestic dairy production capabilities.
- Changing consumer preferences towards alternative milk products.
- Trade policies and partnerships that might affect import dynamics.
- Environmental policies influencing production and transport in the dairy sector.
