In 2023, the import value of essential oils, resinoids, and terpenic by-products to Indonesia stood at $248.95 million. The forecasted import values for the subsequent years show a consistent upward trend: $259.61 million in 2024, $271.37 million in 2025, $282.9 million in 2026, $294.2 million in 2027, and $305.28 million in 2028. This indicates year-on-year growth rates of:
- 4.28% between 2023 and 2024
- 4.55% between 2024 and 2025
- 4.25% between 2025 and 2026
- 3.99% between 2026 and 2027
- 3.76% between 2027 and 2028
This consistent increase results in a compound annual growth rate (CAGR) of around 4.16% from 2024 to 2028, showcasing a robust upwards trend.
In the future, key trends to monitor include fluctuations in global essential oil prices, increases in local production capabilities, evolving consumer preferences toward natural products, and any significant regulatory changes affecting imports. These factors could influence Indonesia's import volumes and values in this sector.
