The demand for maize in Finland has shown significant fluctuations over the years. From 2014 to 2023, the values ranged from a low of 9,000 metric tons in 2016 to a high of 64,000 metric tons in 2023. Particularly notable is the sharp increase in 2018, with demand rising to 62,000 metric tons and experiencing steady growth thereafter.
Analyzing the year-on-year variations, there was a drastic rise in demand in 2018 with an increase of 376.92%. In the following years, the demand remained relatively stable but continued its upward trajectory with an average Compound Annual Growth Rate (CAGR) of 0.64% in 2023. Forward-looking to 2028, the forecast 5-year CAGR is expected to be around 3.61%, indicating moderate growth.
The demand stood at 64,000 metric tons in 2023. Over the last two years, the demand grew on average by 4.92% year-on-year, showing a strong upward trend. The last five years exhibited significant growth with a CAGR of 44.65% until 2021, indicating robust market activity.
Future trends to watch for include potential market stabilization as forecasted growth is more moderate at 19.4% by 2028. Factors to observe include changes in local agricultural policies, global maize market dynamics, and evolving consumer preferences towards biofuels and animal feed.
