From 2014 to 2023, cassava demand in Mexico has generally fluctuated, exhibiting a growth in demand with occasional declines. Notable increases occurred in 2015 (14.81%) and 2018 (23.08%). However, there were significant drops in 2017 (-21.21%) and 2020 (-5%). The demand stabilized between 2021 and 2023, standing at 32 Thousand Metric Tons in 2023 with no year-on-year variation. Over the last two years, the average variation was minimal. The average CAGR over the past five years was 0%, indicating stable demand.
Looking forward to the forecasted period from 2024 to 2028, the demand for cassava is expected to grow at a moderate CAGR of 0.65%, with an overall projected growth rate of 3.3%. Future trends to watch for include potential shifts due to changes in domestic agricultural policies, technological advancements in farming, and fluctuations in global cassava prices, which could influence Mexico’s imports. Additionally, rising interest in cassava for industrial use could spur increased demand.
