The bananas market size volume in Indonesia stood at 6.41 million metric tons in 2023. Over the last decade, the market has seen significant year-on-year fluctuations, ranging from a high of 38.32% in 2015 to a low of -26.3% in 2016. More recently, the year-on-year variations have stabilized, registering modest increases such as 0.14% in 2022 and 0.12% in 2023. The compound annual growth rate (CAGR) over the past five years has been minimal at 0.19%, indicating a steady but slow growth trend.
Forecasted data from 2024 to 2028 also suggest continuing modest growth. The anticipated average annual growth rate (CAGR) over the next five years is 0.11%, contributing to an overall growth rate of 0.53% by 2028.
Future trends to watch for:
- Impact of climate change on banana yields and overall market volume.
- Technological advancements in agriculture that may influence banana production efficiency.
- Evolving consumer preferences and potential shifts towards other fruits.
- Government policies and initiatives targeting agricultural sustainability.
