The soybeans feed market in Mexico has shown a general upward trend from 2014 to 2023, increasing from 1.15 million metric tons to 1.53 million metric tons. The year-on-year growth rates have varied, with notable increases like 14.95% in 2018 and smaller fluctuations such as -2.45% in 2019. The most recent year-on-year change for 2023 is 1.53%. Over the past five years, the compound annual growth rate (CAGR) has averaged 3.54%.
Looking towards future trends, the forecasted data from 2024 to 2028 predicts a steady growth, with soybeans feed consumption expected to reach 1.64 million metric tons by 2028. The five-year CAGR for this period is estimated to be 1.09%, reflecting a growth rate of 5.55% over five years.
Future trends to watch for include:
- Potential changes in trade policies or tariffs affecting soybean imports.
- Fluctuations in domestic livestock production, which could impact feed demand.
- Technological advancements in feed efficiency, possibly reducing the volume required.
- Environmental and sustainability considerations influencing agricultural practices.
