From 2014 to 2023, the demand for sugar cane in South Africa experienced fluctuations, with values peaking at 19.3 million metric tons in 2018 and reaching 19.16 million metric tons in 2023. Notably, demand dropped significantly in 2015 (-16.3%) but recovered with strong gains in 2017 (15.34%) and 2018 (11.01%). In recent years, the demand growth remained relatively stable but modest, with a slight increase of 0.67% from 2022 to 2023. The CAGR over the last five years was calculated at -0.15%.
Forecasted values from 2024 onwards suggest a continuous but slow upward trend in sugar cane demand, with a forecasted growth rate of 2.74% over the next five years and an average annual growth rate (CAGR) of 0.54% from 2023 to 2028. By 2028, demand is predicted to reach 19.83 million metric tons.
Future trends to watch for include advancements in sugar cane processing technologies, shifts in consumer dietary preferences towards lower sugar consumption, and the impact of climate change on agricultural yields. Additionally, policy changes and trade agreements could significantly influence demand dynamics.
