The turnover of the wholesale of seed and feedstuff in China has shown a steady decline from 2013's peak of 137.96 hundred million yuan to 2023's value of 76.32 hundred million yuan, with a drastic drop in 2017. The year 2020 saw a temporary rebound, but this was followed by a return to the downward trend, culminating in a year-on-year decrease of 3.11% in 2023. The 5-year CAGR up to 2023 stands at -2.46%, indicating a consistent average annual decline.
From 2024 onwards, forecasted data suggests a continued decrease, reaching 64.25 hundred million yuan in 2028. The forecasted 5-year CAGR is -2.76%, equivalent to a 13.04% reduction overall from 2024 to 2028.
Future trends to watch for:
- Potential impact of government policies on agricultural inputs
- Technological advancements in seed and feed production
- Shifts in domestic and international demand
- Market consolidation and competitive dynamics
