The wheat consumption in Vietnam was 2.21 million metric tons in 2023. From the data provided, the forecast for wheat consumption is expected to steadily increase, reaching 2.25 million metric tons in 2024, and further climbing each subsequent year to 2.43 million metric tons by 2028. The year-on-year variations indicate a stable growth: 1.78% for 2024, 1.78% for 2025, 2.18% for 2026, 2.14% for 2027, and 1.67% for 2028. Over the five-year period, the compound annual growth rate (CAGR) stands at approximately 1.91%.
Future trends to watch for include:
- Changes in domestic agricultural policies that might affect local production and importation.
- The impact of global wheat prices and potential supply chain disruptions.
- Shifts in dietary preferences or changes in population growth rates within Vietnam that might influence wheat consumption patterns.