The consumption of Nonfat Dry Milk in the Philippines reached 165.0 thousand metric tons in 2023. Forecasted data indicates a gradual increase over the upcoming years, rising from 167.0 thousand metric tons in 2024 to 174.0 thousand metric tons in 2028. This reflects a year-on-year increase of approximately 1.2% from 2024 to 2025, 1.2% from 2025 to 2026, 0.6% from 2026 to 2027, and 1.2% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is expected to be around 1.1%.
Future trends to watch for include:
- Potential shifts in consumer dietary preferences towards healthier options.
- Changes in trade policies impacting import and export dynamics.
- Innovations in dairy alternatives and their market penetration.
Monitoring these trends will be crucial for understanding future demand patterns in the Nonfat Dry Milk market in the Philippines.
