The export of baked bread, pastry, and wafers from Indonesia has shown a strong upward trajectory from 2013 to 2023, increasing from $319.4 million to $854.46 million. Despite a drop in 2020, the market quickly rebounded in subsequent years. The most recent year-on-year growth reflects a steady pace with a 4.44% increase in 2023, compared to 4.74% in 2022. Additionally, the compound annual growth rate (CAGR) has stabilized at around 4.93% over the last five years.
Key Trends:
- Significant early growth, particularly between 2013 and 2017, with a peak individual year growth of 24.37% in 2017.
- Moderation in growth rate between 2018 and 2019 with a slight decrease in 2020, likely due to global disruptions.
- Strong recovery post-2020, leading to consistent growth through to 2023.
Forecasts indicate continued growth, reaching $1,044.1 million by 2028, with an anticipated CAGR of 3.15% over the next five years, suggesting a somewhat more moderate but sustained increase.
Future Trends to Watch For:
- Continued recovery and strength in global economies potentially boosting demand.
- Emerging markets and increased urbanization contributing to higher consumption of baked goods.
- Innovations and trends in healthier, organic, and specialty baked products that align with global consumer preferences.
