In 2023, China's millet distribution was significantly smaller, serving as a baseline for the forecast. From 2024 to 2028, millet distribution is projected to increase steadily from 2.75 to 2.92 million metric tons, indicating growth in demand. The year-on-year growth rates hover around 1.5-1.6%, suggesting a gradual increase. The compound annual growth rate (CAGR) for the period is approximately 1.6%, reflecting consistent expansion in millet supply.
Future trends to watch include:
- Potential shifts in consumer preferences towards millet due to dietary trends.
- Impact of government agricultural policies promoting millet due to its drought-resistance.
- Technological advancements in agriculture affecting millet production efficiency and costs.