The maize market in Brazil has shown a general upward trend between 2014 and 2023, with a notable dip in 2020 followed by a steady recovery. As of 2023, the market size volume stands at 6.03 million metric tons, showing a gradual increase over the past years. From 2020 to 2023, the compound annual growth rate (CAGR) was 0.23%, reflecting a slow but steady recovery from the decline observed in 2020.
Key Year-on-Year Variations:
- 2023: 0.28%
- 2022: 0.28%
- 2021: 5.56%
Looking ahead, forecasts predict a continued growth trend, with a projected volume of 6.12 million metric tons by 2028, driven by a forecasted 5-year CAGR of 0.23% and a 5-year growth rate of 1.15%.
Future trends to watch: Issues regarding climate change impact, technological advancements in agriculture, and fluctuations in global demand and trade policies will be critical in shaping the future of Brazil's maize market.
