The production volumes of food products in Chile, expressed in value, stood at 18.488 Trillion Chilean Pesos in 2023. From 2013 to 2023, there were fluctuations, with notable declines in 2015 and 2016 and boosts in productivity in 2017 and 2021. Specifically, the years 2022 and 2023 experienced slight year-on-year increases at 0.54% and 0.52%, respectively. The CAGR over the past five years up to 2023 was modest at 0.21%. Looking ahead, forecasted data predicts gradual increases in production volumes, with a forecasted 5-year CAGR of 0.42%, resulting in an estimated growth rate of 2.14% by 2028.
Future trends to watch for include:
- The potential impact of new agricultural technologies and sustainable practices on production efficiency.
- Changes in global trade policies and their effects on Chile’s food export market.
- Environmental factors and climate change implications on food production volumes.
- Demand fluctuations based on both domestic and international consumer trends.