The Thai maize market stood at 711.0 thousand metric tons in 2023, with recent trends indicating a stable growth trajectory. The year-on-year growth rate from 2022 to 2023 was 0.71%, reflecting consistent but modest increments. Over the last five years, the compounded annual growth rate (CAGR) has been 0.31%, showing steady but slow growth.
Analyzing long-term trends, significant fluctuations occurred over the past decade, including an 8.08% spike in 2015 followed by a notable 7.77% decline in 2016. The growth trajectory has stabilized somewhat recently, with slight yearly variations. Forecast data suggest that by 2028, the volume is expected to reach 733.0 thousand metric tons, with a projected five-year CAGR of 0.5% and an overall growth rate of 2.52%.
Future trends to watch include: - The impact of climate change on maize yields.- Technological advancements in agriculture.- Policy changes and government support for the maize industry.- Shifts in demand patterns both domestically and internationally.
