From 2013 to 2023, the US maize production at the farm gate has shown fluctuation, with pronounced declines in early years and substantial growths in more recent years. The value stood at 63.29 billion USD in 2023. The last two years' year-on-year variation shows smaller, positive increments of 1.28% in 2022 and 1.25% in 2023. The CAGR for the last five years averages 4.1%, illustrating a steady recovery and growth phase compared to previous negative trends.
Looking forward, the forecast data from 2024 to 2028 suggests continued growth in maize production values, with an estimated CAGR of 4.71% over these forecasted years. This indicates a promising expansion trend in the US maize sector.
Future trends to watch for:
- Potential impacts of climate change and its effect on maize yield.
- Advancements in agricultural technology that could enhance productivity.
- Economic factors, such as trade policies and subsidies, impacting market stability.
- Shifts in demand both domestically and internationally for maize and its by-products.
