In 2023, Thailand's wheat feed consumption stood at 2.22 million metric tons, indicating a year-on-year increase of 2.12%. Over the recent five-year period from 2018 to 2023, the Compound Annual Growth Rate (CAGR) averaged 3.55%, showing steady growth. However, this overall growth follows significant fluctuations during the previous decade, such as a nearly tripling in 2015 followed by a 40.29% drop in 2017. From 2018 onwards, more stable growth trends emerged, with annual increases hovering around 2-4%.
Looking forward, the forecasted five-year CAGR from 2024 to 2028 is estimated to be 1.48%, translating to a total growth rate of 7.64%. This suggests a continued but slower expansion in wheat feed consumption in Thailand compared to previous years.
Future trends to watch for include potential shifts in agricultural policies and import tariffs, changes in livestock farming practices, and fluctuations in global wheat prices. Additionally, advancements in animal nutrition and feed technology may also impact demand dynamics.
