The market for sorghum feed in Europe expressed in volume stood at 1.4 million metric tons in 2023. Analyzing the historical data from 2014 to 2023, we observe fluctuations with a notable increase in 2018 (39.05%) and subsequent stabilization in the following years. The most recent years show a steady year-on-year increase with slight variations, e.g., 1.32% in 2022 and 1.23% in 2023.
Looking forward, forecast data from 2024 to 2028 predict a continued gradual increase in sorghum feed volume, with a 5-year compound annual growth rate (CAGR) of 0.9%. This suggests moderate but consistent market expansion.
Future trends to watch for include:
- Technological advances in crop production and feed efficiency.
- Policy changes affecting agricultural subsidies and trade regulations within Europe.
- Shifts in livestock population dynamics impacting feed demand.
- Sustainability trends influencing crop choices and feed compositions.