In 2023, beverage milk consumption in the US stood at [value for 2023]. Forecasted data from 2024 to 2028 shows a steady decline in consumption from 128.64 pounds in 2024 to 117.89 pounds in 2028. The year-on-year variation over the last two years has shown a decrease of approximately 2.15% from 2023 to 2024 and projected to decline annually by roughly 2% - 2.3% per year moving forward. The CAGR over the last 5 years is anticipated to be around -2.2%.
Future trends to watch for include the rising popularity of plant-based milk alternatives, increasing health consciousness among consumers, and demographic changes that favor lower milk consumption. Monitoring shifts in consumer preferences and potential innovations in the dairy industry will be critical.
