The maize processing industry in Brazil has shown notable fluctuations over the past decade. Starting from a value of 54 thousand metric tons in 2014, it has seen a general decline, standing at 44 thousand metric tons in 2023. This represents an overall negative trend with a compound annual growth rate (CAGR) of -0.45% annually over the last five years.
Looking at year-on-year changes, sharp declines and modest recoveries characterize the industry's performance. In 2015, the industry contracted by 9.26%, followed by a slight recovery of 4.08% in 2016. However, there was another significant fall of 11.76% in 2018. The past two years, from 2021 to 2023, the industry has remained stable with no growth but continued at 44 thousand metric tons.
Future trends indicate a continuation of the decline in the maize processing sector. The forecast for 2028 is projected to be around 41 thousand metric tons, with a forecasted 5-year CAGR of -0.95% and a total growth rate decline of 4.65% over the next five years.
Future trends to watch for:
- Technological advancements in maize processing that could alter industry efficiency.
- Government policies and trade agreements impacting agricultural exports and imports.
- Climate change effects on maize yield and quality, influencing production volumes.
- Market demand-shifts towards alternative crops or maize products.
