From 2014 to 2023, the sugar cane market in Saudi Arabia has seen a steady increase in volume, moving from 11.0 thousand metric tons in 2014 to 15.0 thousand metric tons in 2023. This represents a compound annual growth rate (CAGR) of 1.39% over the last five years.
Key trends include:
- Stable values from 2014 to 2015.
- Moderate growth from 2016 to 2019, with notable year-on-year increases of 9.09% in 2016, 8.33% in 2017, and 7.69% in 2018.
- A slight dip in 2020 followed by a recovery in 2021 with a year-on-year increase of 5.26%.
- Steady growth continuing into 2022 with a 7.14% increase, and stability in 2023.
Looking forward to the next five years (from 2024 to 2028), the forecast predicts continued growth at a CAGR of 1.28%, reaching 16.29 thousand metric tons by 2028. This reflects an overall growth rate of 6.59% during this period.
Future trends to watch for include potential impacts of climate change on crop yields, advancements in agricultural technology, and shifts in consumer demand and trade policies impacting sugar cane imports and exports.
