The wheat processing industry in China has shown a dynamic trend from 2014 to 2023 with noticeable fluctuations. It started at 185.0 thousand metric tons in 2014, reaching 244.0 thousand metric tons in 2023. The most significant growth occurred between 2014-2016, with the year-on-year variations of 20% and 11.71%, respectively. However, a dip was observed in 2017 with an 11.69% decline. Since then, the industry has shown moderate and stable growth.
Year-on-year growth has remained positive but lower in recent years, with a 1.26% growth in 2022 and 0.83% in 2023. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 averaged at 1.28%, indicating steady progress.
Future trends indicate a continued, albeit slower, growth rate with the forecast for 2028 standing at 258 thousand metric tons, reflecting a CAGR of 0.88% over the next five years. Key factors to watch include technological advancements in processing, government policies on agriculture, and global wheat market stability.
