The sugar cane production in North America stood at 29.949 million metric tons in 2023. Examining historical trends shows variability in production volumes with distinct fluctuations. Notable increases include a 5.54% rise in 2021 and a 3.92% increase in 2018. Meanwhile, the production faced some downturns, such as a 7.54% decline in 2019 and a 2.57% decrease in 2020. The compound annual growth rate (CAGR) reveals minor average annual variations, with a recent five-year CAGR of -0.9% as of 2023. Looking ahead, future forecasts predict steady but modest growth with an expected 0.21% CAGR over the next five years, reaching approximately 30.348 million metric tons by 2028.
Future Trends to Watch For:
- Climate change impacts on agricultural yields and regional cultivation viability.
- Technological advancements in sugar cane farming and processing.
- Policy changes regarding biofuel production that may influence sugar cane demand.
- Shifts in global sugar markets and trade dynamics affecting production incentives.
- Potential changes in consumer demand for sugar-based products and alternatives.
