The demand for maize in Chile has exhibited gradual growth from 2014 to 2023, standing at 3.03 million metric tons in 2023. The year-on-year variations have shown some volatility, with significant growth in certain years like 2015 (16.3%) and notable declines in others, such as 2016 (-10.3%) and 2020 (-4.12%). Over the last two years, there was a steady increase, although modest, reflecting a mature market. The average annual variation per year over the last five years (CAGR) has been moderate at 0.35%.
Looking ahead, the forecasted demand from 2024 to 2028 indicates a steady increase, with an average annual growth rate of 0.68%. By 2028, the demand is expected to reach 3.16 million metric tons, representing a total growth rate of 3.43% over the forecast period.
Future trends to watch for include potential impacts of global climate change on maize production, technological advancements in agriculture, and shifts in consumer demand patterns influenced by economic and socio-political factors. Understanding these trends will be crucial for stakeholders aiming to navigate the maize market in Chile effectively.
