Between 2013 and 2023, the sold production of sugar in Spain experienced significant fluctuations. The highest production was recorded in 2021 at 952.25 million kilograms, while the lowest was in 2020 with 537.93 million kilograms, showing a dramatic year-on-year variation. After peaking in 2021, the production saw a sharp decline in 2022 at 703.67 million kilograms, followed by a modest recovery in 2023 with a 4.49% increase to 735.26 million kilograms.
From 2024 to 2028, forecasts suggest a gradual decline in production. By 2028, production is expected to decrease to 665.6 million kilograms. The CAGR for the forecast period from 2024 to 2028 is estimated at -1.59%, indicating an average annual decline. Over the five-year horizon, the forecasted growth rate is -7.69%.
Trends to Watch For:
- Future changes in sugar production policies
- Market demand fluctuations domestically and internationally
- Impacts of climate change on sugar beet cultivation
- Technological advancements in sugar production processes
- Competitive dynamics within the European sugar market
