Sugar consumption at the farm gate in Chile exhibited considerable fluctuation over the past decade, with an initial peak in 2013, followed by a declining trend reaching its lowest point in 2017. The consumption rebounded notably in 2018, before experiencing varied annual changes up to 2023. The consumption value in 2023 stood at 832.37 thousand metric tons, witnessing a 2.97% year-on-year increase from the previous year. The Compound Annual Growth Rate (CAGR) over the past five years stands at -0.77%, indicating a slight decline overall.
Future consumption forecasts suggest a stable upward trend, starting at 839.21 thousand metric tons in 2024, and projected to reach 865.9 thousand metric tons by 2028. The forecasted 5-year CAGR is 0.63%, with an overall 5-year growth rate of 3.18%, indicating moderate growth.
Future trends to watch for include:
- Impact of health regulations on sugar consumption.
- Influence of consumer health consciousness on purchasing behavior.
- Potential fluctuations in agricultural production affecting supply.
