The demand for sugar cane in Thailand has experienced variable trends over the past decade. In 2014, the consumption stood at 103.71 million metric tons, dipping slightly around 2015-2017, before a significant rise in 2018 to 135.04 million metric tons. This upward trajectory continued, albeit at a modest pace, reaching 132.93 million metric tons in 2023, marking a 1.57% year-on-year increase. The Compound Annual Growth Rate (CAGR) over the last five years has been -0.31%, indicating a slightly declining trend in recent years.
Looking forward, the forecast suggests a gradual growth in demand, reaching 142.57 million metric tons by 2028. The forecasted 5-year CAGR is 1.11%, showing a steady growth trend. Future trends to watch for include advancements in agricultural technologies, shifts in global sugar trade policies, and fluctuations in domestic and international market demands which could impact growth rates.
