In 2023, the actual value of sorghum feed in Japan was an integral point for comparison with the forecasted data for 2024 onwards. The projections from 2024 to 2028 indicate a consistent downward trend in sorghum feed volume, decreasing from 407,000 metric tons to 307,000 metric tons by 2028. This represents a gradual decline as seen in the year-on-year percentage decreases over this period. Additionally, the Compound Annual Growth Rate (CAGR) over these five forecasted years illustrates a declining average growth rate per year.
Future trends to watch for in the sorghum feed market in Japan include:
- Potential shifts in domestic agricultural policies impacting feed preferences.
- Changes in global supply chains or pricing that might affect sorghum's competitiveness.
- Trends in alternative feed grains that might influence market share.