The data on sorghum non-food uses in South America indicates a fluctuating trend over the past few years. The volume stood at 25.0 thousand metric tons in 2023, unchanged from 2022, signifying stability. A year-on-year analysis shows notable annual variations, such as a significant decrease of 19.05% in 2015 and a remarkable increase of 44.44% in 2018. The compound annual growth rate (CAGR) over the last five years ending in 2023 shows a slight decline of -0.78%.
For the coming five years up to 2028, the forecasted CAGR is estimated at 1.55%, predicting a cumulative growth rate of 8%. This indicates a more stable and moderate growth trajectory for sorghum's non-food uses in the region.
Future trends to watch for:
- Monitoring environmental regulations affecting agricultural practices.
- Potential technological advancements in sorghum processing and alternative non-food uses.
- Market shifts driven by changes in energy policies, particularly with biofuels.
