The Indonesian raw sugar equivalent market has seen varied growth rates from 2014 to 2023. In 2023, the market size in volume stood at 5.09 million metric tons, increasing by 1.43% year-on-year. This period was marked by a significant spike in 2018, with a 16.72% increase, and notable fluctuations thereafter. Despite these variations, the compound annual growth rate (CAGR) from 2018 to 2023 was moderate at 0.62%. Looking forward from 2024, the forecast indicates steady growth, with a 5-year CAGR of 1.13%, leading to a projected market size of 5.47 million metric tons by 2028.
Future trends to watch for include:
- Government policies on sugar imports and local production
- Innovations in agricultural practices
- Shifts in consumer preferences and health consciousness
