The import of Grape Wines and Grape Must to Indonesia has shown significant fluctuations over recent years. From 2013 to 2023, yearly variations ranged from high decreases, such as in 2015 with -31.76% year-on-year, to substantial increases, peaking in 2016 with a 252.44% rise. The market reached $23.55 million USD in 2023, highlighting considerable growth, particularly notable from 2017 onwards.
Over the last two years, growth remained steady with increases of 6.33% in 2022 and 5.84% in 2023. The five-year CAGR (Compound Annual Growth Rate) up to 2023 averaged at 4.78%, signifying a moderated but consistent upward trend following periods of higher volatility.
Looking ahead, forecast data suggest a compound annual growth rate of 3.96% extending to 2028, with the market expected to grow by 21.45% over the next five years. This indicates a steady, albeit slower, growth phase compared to the past decade.
Future trends to watch for include:
- Economic stability and consumer spending behavior in Indonesia.
- Changes in trade policies and import regulations.
- Market preferences and potential shifts towards premium or low-alcohol alternatives.
