The wheat market size volume in the US has shown a steady increase from 2014 to 2023, standing at 26.77 million metric tons in 2023. A year-on-year growth of 0.25% was recorded in 2023, continuing a consistent trend. Over the past five years, the volume has increased with a Compound Annual Growth Rate (CAGR) of 0.18%. Looking back, the market had more pronounced growth periods, such as in 2017 with a 1.39% rise, while 2019 saw a slight decline of 0.09%. Forecasts from 2024 onwards predict a moderate growth rate of 0.91% over the next five years, with a forecasted CAGR of 0.18%.
Future trends to watch for include potential shifts in agricultural policies, climate change impacts, and advancements in agricultural technology, which could influence both supply and demand dynamics in the wheat market.
