Between 2014 and 2023, the sugar cane processing industry in South Africa experienced fluctuations, with value in 2023 standing at 17.48 million metric tons. The sector recorded notable yearly variation, such as a decline of 17.19% in 2015, recovery with 22.77% growth in 2017, and marginal increases from 2020 to 2023, showing a strong resilience. The CAGR for the period 2019-2023 averaged at -0.19%, indicating a minor contraction over five years, despite moderate year-on-year growth in recent years.
Future trends to watch: - The forecast anticipates a steady growth rate with a CAGR of 0.59% from 2024 to 2028, leading to a projected value of 18.15 million metric tons by 2028. - Factors such as climate change, technological advancements in processing, and global sugar demand will be pivotal in influencing future performance.
