Between 2014 and 2023, cottonseed demand in Mexico exhibited fluctuations, starting at 533.0 thousand metric tons in 2014 and reaching 781.0 thousand metric tons in 2023, indicating a 2.23% year-on-year increase for 2023. Notable variations include a significant drop of 34.33% in 2015 and a significant rise of 67.47% in 2017. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 stands at 0.87%.
Key recent trends include:
- A drop of 5.21% in 2019
- A decrease of 2.45% in 2020
- A 7.87% increase in 2021
- A stable growth pattern between 2022 and 2023 with a CAGR of 0.87%
Looking ahead, forecasted data suggests a continued moderate rise in demand, with a 1.74% forecast CAGR over the next five years, culminating in a 9.03% overall growth by 2028.
Future trends to watch for include global market shifts, changes in agricultural practices, technological advancements in crop production, and evolving domestic consumption patterns influenced by economic conditions. Monitoring these variables will be crucial for anticipating and adapting to demand changes in the cottonseed market.
