The sugar cane market size in Nigeria stood at 78.0 thousand metric tons in 2023. Analyzing year-on-year trends, the market saw a decline of 1.27% from 2022. Over the past five years, the compound annual growth rate (CAGR) was modest at 0.26%, highlighting minimal average variation. Historic data shows significant fluctuations, such as a steep decline of 28.04% in 2018.
Future trends worth noting:
- A forecasted decline with a CAGR of -1.8% over the next five years.
- Expected market size dropping to 69.45 thousand metric tons by 2028.
- Potential impact from emerging agricultural technologies and climate change policies.
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