The maize market size volume in South Africa has experienced fluctuating trends over the past decade. As of 2023, the market size stood at 5.65 million metric tons. Examining the year-on-year variation, there was a minimal increase of 0.018% between 2022 and 2023. The Compound Annual Growth Rate (CAGR) over the last five years showed a modest growth of 0.56%. Notable historical trends included a significant 8.82% increase in 2017, followed by a decline of -9.77% in 2018.
From 2024 onwards, the projected data suggests a steady market size of 5.66 million metric tons through to 2028, with an average annual growth rate forecasted at 0.03% and overall forecasted 5-year growth rate at 0.13%.
Future trends to watch for:
- Impact of climate change on maize yield and production.
- Technological advancements in agricultural practices.
- Government policies and subsidies affecting maize farming.
- Market demand shifts driven by changes in consumer behavior or global maize markets.