Sugar cane demand in Australia has shown a general upward trend over the years, with some fluctuations. Starting at 30.52 million metric tons in 2014, the demand peaked at 36.56 million metric tons in 2017 before dropping to 33.51 million metric tons in 2018. Recovery was observed from 2019 onward, reaching 35.68 million metric tons in 2023. The year-on-year percentage change has been relatively stable over the last two years, with a slight increment showing a 0.73% rise in 2023. The Compound Annual Growth Rate (CAGR) for the past five years stood at 1.27%.
Forecasts from 2024 to 2028 indicate continued growth, albeit at a slower pace, with an expected CAGR of 0.53% and a total growth rate of 2.68%. By 2028, the demand is anticipated to reach 36.90 million metric tons.
Future trends to watch for:
- Potential impact of climate change on crop yield.
- Shifts in global sugar markets and trade policies.
- Technological advancements in agriculture improving productivity.
- Changes in domestic and international demand for sugar.
