The sugar cane market in Vietnam has seen a consistent decline in volume over the past decade, standing at 865 thousand metric tons in 2023. From 2014 to 2023, the market experienced fluctuations, including notable decreases in years like 2018 (-18.45%) and moderate recoveries, as seen in 2017 (4.76%). The volume has continued to drop with a year-on-year variation of -1.93% observed in 2023. Over the past five years, the CAGR was -0.72%. The forecast for the next five years predicts a continued decline with a forecasted 5-year CAGR of -1.69% and an overall decrease of 8.16% by 2028.
Future trends to watch for include technological advancements in sugar cane harvesting and processing, government policies affecting agriculture, and shifts in domestic and international demand. Monitoring these factors will be crucial to anticipate market changes and strategize accordingly.
