Based on the data on wheat demand in Saudi Arabia, in 2023 the country saw a demand of 3.69 million metric tons. The wheat demand has generally been stable with minor fluctuations over the years. From 2014 to 2023, the annual demand remained within a range from 3.4 to 3.69 million metric tons. Specifically, the demand decreased by 3.65% in 2015 but rebounded with positive year-on-year growth rates in subsequent years. Between 2018 and 2022, the demand trend showed minor fluctuations but stayed mostly stable. The Compound Annual Growth Rate (CAGR) for the last five years up to 2023 was 0.11%, indicating a minimal average annual increase.
Looking forward, the forecasts from 2024 to 2028 suggest a steady increase in wheat demand with a projected CAGR of 0.24% over these five years, culminating in a 1.22% total growth by 2028 reaching 3.74 million metric tons. This indicates a stable yet gradually increasing trend for wheat consumption in Saudi Arabia.
Future trends to watch for include potential shifts due to changing dietary patterns, technological advancements in agriculture, and policy changes affecting wheat imports and domestic production. Monitoring these factors will be crucial for understanding the long-term landscape of wheat demand in the region.
