Analysis of the maize demand in Spain reveals a fluctuating yet overall upward trend from 2014 to 2023. The demand stood at 11.3 million metric tons in 2023. Over the last two years, the year-on-year growth was consistent, with a 0.66% increase in 2023 and 0.68% in 2022. The compound annual growth rate (CAGR) over the last five years indicates an average annual increase of 0.13%. Notable years include 2018 with an 8.9% rise and 2017 with a 5.91% increase, reflecting strong surges in demand.
Future trends to watch for:
- The projected growth from 2024 to 2028 shows a modest yet steadily increasing demand, with a forecasted five-year CAGR of 0.48%. - Observing external factors such as climate change impacts, changes in agricultural policies, and international market dynamics will be crucial for anticipating future demand fluctuations.
