The turnover of Seed and Feedstuff in China has experienced a steady decline from 2013 to 2023, decreasing from 143.82 hundred million yuan to 81.91 hundred million yuan. The period from 2013 to 2016 showed gradual decreases annually, while the most significant drop occurred in 2017 with a 30.69% year-on-year decline. Following 2017, the turnover experienced a fluctuating but downward trend, with minor recuperation in 2020 but continued declines through 2023. The year 2023 saw an additional 2.81% decrease, leading to a value of 81.91 hundred million yuan. The five-year CAGR stands at -2.52%, confirming a negative growth trajectory.
Looking at future trends, the forecast from 2024 to 2028 indicates a continuation of this downward trend with a projected five-year CAGR of -2.45%. This suggests an anticipated contraction, with an estimated turnover of 70.26 hundred million yuan by 2028, representing an overall decline of 11.68% from 2024. Factors to watch for include potential shifts in agricultural policy, technological advancements in seed and feedstuff production, and changes in domestic or global market demands that could influence these trends.
