The maize consumption in Mexico at the farm gate has showcased a steady growth from 2013 to 2023. In 2023, the volume stood at 43.89 million metric tons, reflecting a consistent upward trend, albeit with slight fluctuations. Observing the year-on-year variations, there was a notable increase of 13.78% in 2014, followed by a consistent rise culminating in a modest growth rate of 1.28% in 2023. The year-on-year changes indicate periods of fluctuation with minor declines in 2019 and 2020, yet the overall trajectory remained positive.
From 2018 to 2023, the compound annual growth rate (CAGR) illustrated a subtle growth pace, decreasing from 8.22% in 2018 to 0.19% in 2023, pointing towards a maturation phase in maize consumption trends.
Looking ahead, the forecast from 2024 to 2028 predicts a gradual increase, with expected average annual growth (CAGR) at 0.95% and a total growth of 4.83% over the next five years. This projection surmises sustained but moderate expansion in maize consumption.
Future trends to watch for include:
- Impact of climate change on maize yield and consumption.
- Technological advancements in agriculture enhancing maize production.
- Changes in dietary patterns influencing maize demand.
- Economic policies affecting agricultural imports and exports.
