The sugar cane market in South America has seen variable growth from 2014 to 2023, with notable fluctuations such as the 38.48% spike in 2018. The volume in 2023 stood at 4.58 million metric tons, marking a 1.69% year-on-year increase. Over the past two years, growth has been relatively consistent, while the five-year period showcased an average annual growth rate (CAGR) of 0.096%. Future projections indicate a steady upward trajectory, with a forecasted 1.19% CAGR from 2024 to 2028, leading to a 6.08% higher volume by 2028.
Future trends to watch for include the impact of technological advancements in agriculture, climate change effects, and shifts in global sugar demand impacting production and export capabilities in South America. Additionally, policy changes and economic factors within key producing countries like Brazil will significantly influence market dynamics.
