The sorghum market in Saudi Arabia shows a notable decline from 2014 to 2023, with a drop from 156.0 thousand metric tons to 108.0 thousand metric tons. In 2023, the market stood at 108.0 thousand metric tons. The market experienced significant dips in 2018 with a reduction of 15.94% year-on-year, and in 2020 with a 7.38% decline. Although there were slight recoveries, like a 3.45% increase in 2019 and a 2.56% rise in 2021, the overall trend exhibits a consistent decrease. The compound annual growth rate (CAGR) for the last five years leading up to 2023 is -1.42%, indicating a steady downturn.
Looking ahead from 2024, forecasted data suggest a further decline in the sorghum market size, expected to reach 93.31 thousand metric tons by 2028, reflecting a forecasted 5-year CAGR of -2.33%, and an overall 5-year growth rate of -11.11%.
Future trends to watch for include potential shifts in agricultural policies, innovations in sorghum farming technologies, climate impact on crop yields, and changes in domestic and global demand for alternative grains.
