In California, IndexBox reported that the sorghum market in Asia is expected to see an upward consumption trend driven by increasing demand, with a forecasted CAGR of over 1.3% in volume and over 1.8% in value from 2024 to 2035.
By the end of 2035, market volume is projected to reach 19 million tons and market value is expected to reach $6.6 billion in nominal prices.
“Driven by increasing demand for sorghum in Asia, the market is expected to continue an upward consumption trend over the next decade,” the report stated.
“In 2024, consumption of sorghum was finally on the rise to reach 17 million tons for the first time since 2021, thus ending a two-year declining trend. The total consumption indicated a measured increase from 2013 to 2024: its volume increased at an average annual rate of over 3% over the last eleven-year period,” the report added.
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Category: Food & Agriculture
