From 2014 to 2023, the volume of wheat processed in Australia showed a steady decline, reflecting a compound annual growth rate (CAGR) of -1.24%. The most significant year-on-year decrease was in 2015 with a drop of -8.86%, while the only increase was seen in 2016 at 2.78%. By 2023, the volume stood at 62.0 thousand metric tons, indicating a continuous downward trend in recent years.
Looking ahead, the forecast predicts a further decline, reaching 57.0 thousand metric tons by 2028, with a forecasted 5-year CAGR of -1.35% and an overall 5-year growth rate of -6.56%. Several factors driving future trends will be:
- Technological innovations in wheat processing
- Changes in domestic and international demand
- Shifts in global trade policies and tariffs
- Environmental impacts on wheat production and supply chains
