The production of food, beverages, and tobacco in Chile showed a general upward trend from 2013 to 2023, with values increasing from 18.284 trillion Chilean Pesos in 2013 to 26.981 trillion Chilean Pesos in 2023. The year-on-year variations exhibit some fluctuations, with notable peaks in 2014 (12.95%) and 2018 (7.78%), and a dip in 2016 (-0.81%). The compound annual growth rate (CAGR) over the last five years (2018-2023) is 1.94%, indicating a stable, albeit moderate, growth trajectory.
For the forecasted period from 2024 to 2028, the CAGR is anticipated to be 1.47%, with a total growth rate of 7.58% over these five years. This suggests a continued gradual increase in production values.
Future trends to watch for:
- Impact of global economic conditions on Chile's food, beverage, and tobacco industries.
- Technological advancements and their influence on production efficiency.
- Changing consumer preferences and their effect on industry demands.
- Government policies and regulations impacting the industry.
- Sustainability initiatives and their integration into production practices.