The demand for wheat in India has shown a steady increase from 88.86 million metric tons in 2014 to 97.73 million metric tons in 2023. The year-on-year variations reveal a notable spike in 2017 with an increase of 6.08%, followed by slower growth rates hovering around 0.2%-0.6% in subsequent years. The CAGR over the last five years leading up to 2023 stands at 0.48%. Projections indicate further growth, reaching 100.21 million metric tons by 2028, with a forecasted 5-year CAGR of 0.4%, representing a total growth of 2% from 2024 to 2028.
Future trends to watch for include potential impacts of climate change on crop yields, government policies on agriculture subsidies, and shifts in domestic consumption patterns due to dietary changes and population growth. Additionally, advancements in agricultural technology and infrastructure improvements could play significant roles in shaping future wheat demand.
