The refined sugar production level in Mexico has seen fluctuating trends from 2013 to 2023. In 2013, production stood at 61.18 million metric tons, experiencing a notable drop in 2014 and a gradual decline until 2015. Production saw minor recovery from 2016 through 2019. However, a sharp decrease was observed in 2020 with production plummeting to 49.27 million metric tons. Recent years showed recovery, with 2023 reaching 58.02 million metric tons, marking a 3.71% increase from 2022.
The 5-year CAGR from 2018 to 2023 was 0.57%. Forecasts from 2024 to 2028 indicate a slow, yet steady, increase with a forecasted 5-year CAGR of 0.67%, suggesting moderated growth reaching up to 60.5 million metric tons by 2028.
Future trends to watch for include:
- Impact of climate change on sugarcane yields.
- Technological advancements in sugar refining processes.
- Potential policy changes impacting agriculture and trade.
