The data from 2014 to 2023 indicates an overall positive trend in maize feed volume in Spain, rising from 8.8 million metric tons in 2014 to 9.95 million metric tons in 2023. Although there have been minor fluctuations, such as a decrease in 2016 and 2019, the year-on-year growth usually stabilizes. From 2018 to 2023, yearly growth was modest at around 0.75% on average with a compound annual growth rate (CAGR) over the last five years of 0.19%.
Looking towards the future, the forecast data up to 2028 predicts continued growth, albeit at a slightly higher CAGR of 0.54%. This suggests a moderate but steady increase in maize feed volume, reaching 10.3 million metric tons by 2028, reflecting an overall growth rate of 2.74% over the five-year forecast period.
Future trends to watch:
- Adaptation to climatic changes, which may impact maize yield.
- Changes in livestock production practices affecting maize feed demand.
- Potential technological advancements in maize farming and feed efficiency.
- Economic policy shifts influencing agricultural imports and exports.
- Consumer demand trends in the food industry impacting maize as a feed component.
