The sugar consumption at the farm gate in Mexico has seen fluctuating trends from 2013 to 2023. In 2023, the consumption stood at 35.81 million metric tons, marking a decline of 1.62% year-on-year from 2022. During the past five years from 2018 to 2023, the Compound Annual Growth Rate (CAGR) receded by 2.03%. Over the last two years, the sugar consumption trended downwards with an average yearly decline of approximately 1.62%. From 2024 onwards, the forecasts indicate a continued decline, reaching 32.94 million metric tons in 2028, with a five-year forecasted CAGR of -1.33%, translating to an overall growth rate drop of 6.48%.
Future trends to watch for:
- Government policies on sugar production and consumption
- Shifts in consumer preferences towards healthier alternatives
- Impact of technological advancements in agriculture and sugar production
- Global sugar market trends and their influence on local consumption
