The wheat market size volume in Thailand in 2023 stood at 1.42 million metric tons. Over the past five years, the market experienced modest growth with a compound annual growth rate (CAGR) of 0.97%. The year-on-year variations have shown a generally decreasing trend in growth, reflecting market stability and maturity.
Noteworthy year-on-year variations include a peak increase of 7.27% in 2016, followed by a significant slowdown to 1.07% in 2023. While the CAGR over the last five years has been modest, forecasted trends indicate a slower growth trajectory, with a projected five-year CAGR of 0.78%, leading to a 3.97% growth rate by 2028.
Future trends to watch for in the wheat market in Thailand include:
- Potential changes in domestic agricultural policies.
- Shifts in consumer demand for wheat-based products.
- Impacts of global trade dynamics and climate change on wheat supply.
