The sugar cane market in Africa saw fluctuations between 2014 and 2023, peaking at 7.74 million metric tons in 2016 before declining by 33.41% in 2017. The market stabilized from 2018 to 2023, with minor annual declines, decreasing by approximately 0.19% year-on-year in 2023, reaching 5.64 million metric tons. The Compound Annual Growth Rate (CAGR) was 0.039% over the last five years, indicating a relatively flat market. Future forecasts to 2028 predict a slight decline with a CAGR of -0.16%, suggesting the volume may reduce to about 5.58 million metric tons.
Future trends to watch for:
- The impact of climate change on crop yields and quality.
- Technological advancements in agricultural practices.
- Market shifts due to policy changes, sustainability efforts, and trade regulations.
- Consumer demand trends and their influence on production scales.