The maize processing industry in China has experienced a steady decline from 2014 to 2023. Beginning with a volume of 6.19 million metric tons in 2014, it decreased to 4.3 million metric tons in 2023. The notable drops in the industry were observed particularly between 2015 and 2018, characterized by significant year-on-year reductions, including a sharp 13% fall in 2018.
Over the last two years, the industry saw a consistent downward trend with a year-on-year variation of -2.47%. The compound annual growth rate (CAGR) over the last five years is -1.58%, reflecting a systematic decline. Future forecasts project this trend to persist, with an expected CAGR of -2.26% from 2024 to 2028, culminating in a total reduction of 10.79% by 2028.
Future trends to watch for include potential disruptions due to advancements in alternative crops, changes in government policy, and the impact of evolving consumer preferences towards more sustainable agricultural practices. Monitoring these factors will be crucial for stakeholders in the maize processing sector.
