The maize processing industry in Thailand showed fluctuating growth from 2014 to 2023, achieving a value of 175.0 thousand metric tons in 2023. Year-on-year variations have displayed peaks and troughs, notably in 2015 (18.03%) and 2016 (-13.19%). However, the sector has steadied in recent years, evidenced by the modest 1.74% increase in 2023. Over the past 5 years, the industry experienced an average annual growth rate (CAGR) of 0.82%. Moving forward, the forecast indicates a CAGR of 1.31% up to 2028, implying a projected overall growth rate of 6.74% for the next five years.
For future trends, watch for:
- Technological advancements in maize processing to enhance efficiency.
- Increasing demand for biofuels derived from maize.
- Expanding domestic and international markets for maize-based products.
- Government policies promoting agricultural and industrial developments.
