In 2023, sugar production at the farm gate in the US stood at 3.10 billion US dollars. The forecasted data for 2024 to 2028 indicates a gradual increase, with values of 3.12, 3.15, 3.17, 3.20, and 3.22 billion US dollars respectively.
Year-on-year percentage variation:
- 2024: +0.65%
- 2025: +0.96%
- 2026: +0.63%
- 2027: +0.95%
- 2028: +0.63%
Over the last two years, the average annual growth rate was approximately 0.95%. The compound annual growth rate (CAGR) over this five-year forecast period is around 0.76%. This indicates a steady but modest growth trend in sugar production at the farm gate.
Future trends to watch for include technological advancements in sugar farming, changing consumer preferences towards alternative sweeteners, and potential regulatory impacts on sugar production and pricing.
