Between 2014 and 2023, the demand for maize in Mexico saw a steady increase, rising from 33.95 million metric tons to 42.46 million metric tons. The growth rates have varied over these years, with fluctuations such as a significant increase in 2016 by 7.62%, a minor decline in 2019 by 0.22%, and a notable recovery in 2021 by 6.58%. The compound annual growth rate (CAGR) over the last five years stood at 0.94%. The demand stood at 42.46 million metric tons as of 2023 and is forecasted to continue its growth, reaching 45.04 million metric tons by 2028 with a forecasted five-year CAGR of 0.93%.
Future trends to watch for include:
- Impacts of climate change on maize production.
- Shifts in domestic agricultural policies and subsidies.
- Technological advancements enhancing crop yields.
- Changes in consumer dietary patterns and demand for maize-based products.
- Global market dynamics affecting maize import and export.
