In 2023, wheat consumption in Brazil stood at 11.50 million metric tons. The forecasted data from 2024 to 2028 indicates a year-on-year increase in wheat consumption: 0.86% in 2024, 0.86% in 2025, 0.77% in 2026, 0.76% in 2027, and 0.76% in 2028. Over the next five years, wheat consumption is expected to grow at a Compound Annual Growth Rate (CAGR) of approximately 0.80%.
Future trends to watch for:
- Changing dietary patterns, such as increased demand for wheat-based products.
- Potential impact of climate change on wheat production and supply chains.
- Economic factors, including inflation and currency fluctuations, affecting import levels and price.
- Technological advancements in agriculture potentially boosting local wheat yields.