The demand for maize in Saudi Arabia has shown a consistent upward trend from 2014 to 2023, increasing from 2.59 million metric tons to 3.4 million metric tons in 2023. The year-on-year variations have fluctuated, with notable increases of 12.64% in 2016 and 6.78% in 2021, but a decline of 3.58% in 2020. The compound annual growth rate (CAGR) over the last 5 years up to 2023 stands at 1.44%, indicating a moderate growth rate.
From 2024 to 2028, the maize demand is forecasted to grow at a CAGR of 1.06%, reaching 3.63 million metric tons by the end of the period. This suggests a continued but slightly decelerated growth trajectory in maize consumption.
Future trends to watch for include:
- Impact of government policies on agriculture and import regulations.
- Advancements in agricultural technology and practices.
- Shifts in consumer preferences and dietary changes.
- Global market dynamics and their influence on Saudi maize prices.
