The sorghum market volume in China displayed significant fluctuations over the years, rising sharply to 7.12 million metric tons in 2015 before experiencing a general downward trend. By 2023, the market had reached 2.98 million metric tons, reflecting a year-on-year decline of 3.5% and a five-year CAGR of -1.21%. From 2014 to 2023, the overall trend has been a decrease, despite brief periods of recovery.
Looking ahead, the forecast suggests a continued decline in the sorghum market volume, with an expected average annual decrease of 3.31% over the next five years. By 2028, the market volume is projected to be 2.42 million metric tons, representing a total decline of 15.49% from 2023 levels.
Future trends to watch for:
- Potential changes in agricultural policies or subsidies
- Shifts in domestic demand and consumption patterns
- International trade dynamics, particularly with major exporters
- Innovation in sorghum cultivation and production techniques
- Impact of climate change on crop yields
