Forecast: Fertilizer Consumption in Saudi Arabia

The data shows Saudi Arabia's fertilizer consumption, measured in kilograms per hectare of arable land, decreased from 93.29 in 2013 to 88.86 in 2023. In 2023, consumption stood at 88.86 units. The most noticeable annual changes include substantial fluctuations in early years, such as a 14.59% increase in 2015 and a 14.12% decrease in 2014. However, recent years have experienced more stability, with the consumption varying less than 1% year-on-year since 2018. Over the last five years (2019-2023), the Compound Annual Growth Rate has been quite low, at 0.28%.

Forecast data for the period from 2024 to 2028 suggests continued stabilization with marginal annual increases, resulting in an overall 5-year forecasted CAGR of 0.04%. By 2028, fertilizer consumption is expected to inch up to 89.1 kilograms per hectare.

Future trends to watch for include the impact of technological advancements in agriculture, potential changes in government policies regarding sustainable agricultural practices, and variations in global fertilizer prices that might influence local consumption patterns.