The demand for raw sugar equivalent in the United Arab Emirates has shown a consistent decline from 2014 to 2023. In 2023, the demand stood at 520.0 thousand metric tons, which represents a significant drop from the 1,500.0 thousand metric tons recorded in 2014. Over the past two years, the year-on-year variations were -8.63% in 2022 and -9.09% in 2023. The compound annual growth rate (CAGR) over the last five years was -6.91%, indicating a steady downward trend.
Looking towards the future from 2024 onward, forecasted data suggests a continuation of this downward trend. With an expected CAGR of -11.92%, the demand is projected to fall to 244.99 thousand metric tons by 2028, reflecting a significant decrease of approximately 47% over the five-year period.
Future trends to watch for include:
- Increased health consciousness leading to reduced sugar consumption.
- Government regulations and policies aimed at reducing sugar intake.
- Possible shifts towards alternative sweeteners affecting raw sugar demand.
- Economic factors influencing consumer purchasing power and market dynamics.
