Based on the forecasted data, the demand for soybeans in Mexico is expected to increase from 5.77 million metric tons in 2024 to 6.12 million metric tons in 2028. This indicates a steady year-on-year growth rate of approximately 1.56% from 2024 to 2025, 1.54% from 2025 to 2026, 1.51% from 2026 to 2027, and 1.32% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year period is approximately 1.48%. In 2023, the soybean demand stood at 5.68 million metric tons.
Future trends to watch for:
- Changes in trade policies affecting soybean imports and exports.
- Shifts in dietary habits and rising demand for plant-based protein sources.
- Advancements in agricultural technology that may improve soybean yield.
- Impact of climate change on soybean production and supply stability.
- Economic factors influencing consumer purchasing power and market dynamics.
