The refined sugar production in Chile has shown varied trends over the past decade, standing at 984.76 thousand metric tons in 2023. There were notable fluctuations, such as the significant increase in 2020 judged by a 576.86% year-on-year variation, and a steep decrease in 2019 with a -44.69% variation. The year 2023 experienced a 12.07% increase from the previous year, stabilizing after previous volatility. The five-year CAGR leading up to 2023 was 20.24%, indicative of substantial overall growth despite fluctuations.
Looking ahead, refined sugar production is forecasted to grow steadily with an average annual growth rate (CAGR) of 6.58% over the next five years, reaching 1,500 thousand metric tons by 2028. This represents a forecasted five-year growth rate of 37.51% by 2028.
Future Trends to Watch For:
- Technological advancements in sugar processing that may enhance production efficiency.
- Fluctuations in global sugar prices which could impact production levels.
- Government policies and trade agreements affecting sugar imports and exports.
- Shifts in domestic and international demand for refined sugar due to changing consumption patterns.
