The gross production value of green garlic in Thailand is projected to slightly decline from $56.11 million in 2024 to $55.53 million by 2028. This decrease reflects a modest annual reduction, with a notable 0.25% decrease from 2024 to 2025, followed by an average annual decline of approximately 0.24% through 2028. This trend indicates a steady but slight downward trajectory in the production value over the next five years.
Key observations:
- The production value stood at $56.11 million in 2023, matching the forecast value for 2024.
- Year-on-year percentage change reveals a gradual decline, essential for trend analysis.
- Compound Annual Growth Rate (CAGR) over the five-year forecasting period indicates a consistent decrease in production value.
Future trends to watch for:
- Potential impacts of climate change and weather patterns on crop yield.
- Market demand shifts and their effect on pricing and production value.
- Technological advancements in agricultural practices that could influence overall production efficiency and output.
