Thailand's maize demand has shown a fluctuating trend, with demand being 5.12 million metric tons in 2023. Notable variations include a significant increase of 16.11% in 2015 followed by a drop of 9.09% in 2016, and a steady year-on-year increase of around 1-1.5% from 2019 to 2023. The average annual growth rate (CAGR) over the last five years stands at approximately 0.63%.
Future trends indicate a modest growth in maize demand with a projected CAGR of 0.78% over the next five years, culminating in a demand of 5.38 million metric tons by 2028. This represents a forecasted five-year growth rate of 3.94% from 2023.
Going forward, trends to watch for include technological advancements in agriculture, shifts in domestic and regional demand for maize-based products, and potential impacts of climate change on crop yields.
