In 2023, Indonesia's domestic cotton consumption was recorded at 2.10 million units (480 lb. Bales). Starting from 2024, the forecasted values for cotton domestic consumption show a downward trend. The forecast for 2024 is 2.04 million units, decreasing to 1.98 million units in 2025, 1.91 million units in 2026, 1.84 million units in 2027, and 1.78 million units in 2028.
Year-on-year variation in percentage:
- 2024: -2.86%
- 2025: -2.94%
- 2026: -3.54%
- 2027: -3.66%
- 2028: -3.26%
The compound annual growth rate (CAGR) for the period from 2024 to 2028 is approximately -3.45%, indicating a steady decline in domestic cotton consumption over the forecast period.
Future trends to watch for:
- Changes in government policies affecting cotton imports and usage.
- Technological advancements in the textile industry that might influence cotton demand.
- Global market trends and their impact on Indonesia's textile exports.
- Shifts in consumer preferences towards alternative fibers or sustainable materials.
- Economic factors that could affect overall consumer spending and textile industry performance.
