Wheat processing in North America has seen a significant decline over the past decade. The year 2014 stood out with a high value of 202.0 thousand metric tons, but since then, there has been a downward trend, culminating at 150.0 thousand metric tons in 2023. The most notable drop occurred between 2014 and 2015 with a decrease of 25.25%. From 2022 to 2023, the value continued to drop by 1.96%, maintaining an average CAGR of -1.53% over the last five years. Forecasts predict further decline, with the value expected to fall to 137.0 thousand metric tons by 2028.
Future trends to watch for include:
- The impact of climate change on wheat yield and processing efficiency
- Technological advancements in agricultural practices that may slow the decline
- Market demand shifts driven by alternative grains or dietary changes
- Government policies and trade agreements affecting wheat imports and exports
