From 2014 to 2023, the wheat demand in Mexico fluctuated moderately, with a notable peak in 2017 at 7.28 million metric tons. The data reflects some variability, such as a significant increase in 2017 (18.88%) and a corresponding drop in 2018 (-14.59%). By 2023, wheat demand stabilized at 6.51 million metric tons, showing a modest year-on-year growth of 0.14%. The compound annual growth rate (CAGR) over the last five years was 0.92%, indicating a steady but slow growth in wheat demand.
Looking ahead to the forecast period from 2024 to 2028, the wheat demand is expected to continue this trend of slow growth, with the forecast CAGR for these years being 0.11%. The annual growth rate is projected to remain under 1%, reaching 6.55 million metric tons by 2028.
Future trends to watch for include:
- Potential impacts of climate change on wheat production.
- Changes in agricultural policies and trade agreements.
- Shifts in dietary patterns and consumer preferences.
- Technological advancements in wheat farming and supply chain efficiency.
