Molasses production in Spain has fluctuated over the years, with notable peaks and troughs. From 2013, where it stood at 120 thousand metric tons, it reached its highest point in 2014 at 150 thousand metric tons. However, since 2017, there has been a consistent decline, with the production dropping to 92.87 thousand metric tons in 2023. Evaluating the recent trends, particularly from 2018 onwards, there has been a clear downward trajectory with an average annual decrease of -5.77% over the last five years.
Year-on-year analysis reveals variability in production:
- 2018: -11.97%
- 2019: -4.77%
- 2020: -10.38%
- 2021: -0.93%
- 2022: -6.13%
- 2023: -6.39%
Looking ahead, forecasts indicate a continued decline in production with a compound annual growth rate (CAGR) of -7.01% over the next five years, culminating in an expected production volume of 59.73 thousand metric tons by 2028. This trend suggests a significant decrease in molasses production, emphasizing the need for strategic adjustments in the industry.
Future trends to watch for:
- Changes in agricultural policies affecting feedstock availability
- Technological advancements in processing and production efficiency
- Market demand shifts for alternative sweeteners and biofuels
- Environmental regulations impacting production practices
