The wheat seed market in Saudi Arabia has seen a downward trend since 2014, starting from 14.0 thousand metric tons and gradually decreasing to 9.0 thousand metric tons by 2023. Between 2022 and 2023, the market remained stable with no year-on-year change. The CAGR over the last five years was -2.09%, indicating an average annual decline.
Key variations over the years include significant drops in 2016 (-14.29%) and 2018 (-16.67%), with another notable decline in 2022 (-10%). The forecast until 2028 suggests a continued decrease with a 5-year CAGR of -2.33%, bringing the market to a forecasted 8.0 thousand metric tons in 2028, a total decline of 11.11% over the forecast period.
Future Trends to Watch For:
- Potential policy changes impacting agricultural subsidies and water usage.
- Technological advancements in seed genetics and irrigation methods.
- Shifts in climate patterns affecting crop yields.
- Global wheat market prices influencing local production decisions.
