The forecasted consumption of fluid milk in US factories is projected to increase steadily from 83.56 million metric tons in 2024 to 87.82 million metric tons in 2028. In 2023, actual consumption was recorded at 82.50 million metric tons. From 2023 to 2024, the year-on-year percentage variation is approximately 1.29%. Following years show incremental growth: 1.29% for 2025, 1.27% for 2026, 1.24% for 2027, and 1.21% for 2028. The average annual growth rate (CAGR) over these five years is 1.26%.
Future trends to watch for:
- Changes in consumer preferences towards plant-based milk alternatives.
- Advancements in milk production technology improving efficiency.
- Regulatory impacts on dairy farming and milk production.
- Environmental factors affecting supply chain and production.
