The consumption of maize feed in Saudi Arabia has seen a steady increase from 2014 through 2023. In 2023, the value stood at 2.28 million metric tons, marking a year-on-year growth rate of 1.38% and a CAGR over the last five years of 1.47%. Historically, there has been significant variability, with notable growth rates in the earlier years: 4.8% in 2015 and 11.57% in 2016, followed by a deceleration with minimal increases in subsequent years such as just 0.047% in 2018.
Looking ahead, the forecasted data from 2024 to 2028 indicates continued growth, albeit at a slower pace. The forecasted five-year CAGR up to 2028 is 1.01%, with an overall forecasted growth rate of 5.15%. This suggests a more stabilized demand in the maize feed market in Saudi Arabia.
Future trends to watch for include potential shifts in agricultural policy, changes in feed demand driven by livestock industry adjustments, and impacts from global maize supply fluctuations. Monitoring these elements will be crucial to understanding future market dynamics.
