The maize market in Kenya stood at 3.95 million metric tons in 2023, showing a steady growth trend. From 2014 to 2023, the market saw fluctuations with the highest growth of 12.53% in 2015 and a slight decline in 2016 and 2017. More recently, between 2022 and 2023, the market experienced a modest year-on-year increase of 0.46%. Over the past five years, the compound annual growth rate (CAGR) has been 0.41%. The forecasted CAGR for the next five years (2023-2028) is slightly lower at 0.33%, with a total growth rate of 1.66% predicted for the period.
Future trends to watch for include:
- Technological advancements in farming practices.
- Changes in government agricultural policies.
- Climate change impacts on maize production.
- Market demand shifts both domestically and internationally.
