The consumption of wheat feed in China has seen general growth over the past decade. From 2014 to 2023, the volume rose from 19.04 to 24.34 million metric tons, representing a 1.38% year-on-year increase by 2023. The past five years have shown a modest compound annual growth rate (CAGR) of 0.75%, indicating steady but slow growth in the recent period.
Key trends over the longer term, from 2014 to 2023, reveal fluctuating annual variations with peak growth rates of 12.58% in 2017 and 10.3% in 2018, but also some years of decline or marginal increases. The year-on-year changes stabilize towards 2023, providing a normalized growth trajectory.
Forecasts suggest continued growth in wheat feed consumption, with the volume expected to reach 25.91 million metric tons by 2028. This indicates an anticipated 5.02% growth over the next five years, with a 5-year CAGR projection of 0.98%.
Future trends to watch for:
- Technological advancements in agricultural practices.
- Government policies and subsidies affecting wheat production and importation.
- Changing dietary patterns and feed formulations influencing wheat demand.
