In recent years, maize consumption at the farm gate in India has shown significant growth. As of 2023, the actual maize consumption stood at 34.22 million metric tons. Over the last two years, the year-on-year variation has been 4.29% in 2022 and 4.07% in 2023. The compound annual growth rate (CAGR) over the last five years up to 2023 is 5.03%, reflecting steady growth.
Looking forward, the forecasted data suggests that maize consumption will continue to increase, reaching 40.72 million metric tons by 2028. The forecasted 5-year CAGR from 2024 to 2028 is 2.76%, indicating a moderate yet consistent growth trajectory. Cumulatively, there is an expected growth rate of 14.56% over these five years.
Future trends to watch for include changes in agricultural policies, advancements in farming technology, and shifts in domestic maize demand driven by population growth and dietary patterns. Additionally, the impact of climate change and water availability on maize production and consumption will be critical considerations.
