The wheat processing industry in Thailand has experienced varied growth trends over the past decade. In 2023, the volume stood at 31,000 metric tons, reflecting a 3.33% year-on-year increase. Overall, from 2018 to 2023, the Compound Annual Growth Rate (CAGR) was 0.66%. The industry saw significant fluctuations in the earlier years with a noticeable dip in 2015 followed by a recovery and peak in 2018. The years 2020 and 2022 recorded no growth, illustrating a phase of stabilization.
Key historical variations include:
- 2015: decline of 4.35%
- 2018: growth of 20%
- 2019: decline of 3.33%
Looking to the future, the forecast suggests a steady increase in wheat processing volume, with a 2028 projection of 33,000 metric tons and a 5-year CAGR forecast at 1.26%. The overall growth rate is expected to be 6.45% over this period.
Future trends to monitor:
- Technological advancements in wheat processing methods
- Impact of global wheat supply on local processing volumes
- Changes in consumer demand for wheat-based products
