The short margarine production in Indonesia has exhibited significant fluctuations in the past decade. In 2013, production was markedly high but plunged drastically by 2014, continuing to drop until 2015. The following years saw a mixture of recovery and decline, with a notable spike in production in 2016 and 2018. However, from 2019 onwards, production mostly stagnated and displayed minor year-on-year changes.
As of 2023, the production value stood at 280.34 thousand metric tons. The year 2023 saw a slight decline of 0.86% compared to 2022. The five-year CAGR leading up to 2023 fell by 4.32%, indicating a gradual reduction over this period.
Looking forward from 2024, the forecast suggests a continual, albeit slow, decrease in production with a forecasted five-year CAGR of -0.74%, predicting a drop to approximately 267.61 thousand metric tons by 2028.
- In 2024, production is expected to be at 277.66 thousand metric tons.- By 2028, production is projected to reach 267.61 thousand metric tons.- The five-year average annual decline forecasted is -0.74%.
Future trends to watch include potential shifts in consumer preferences, regulatory changes, and technological advancements in food production which might influence the margarine market trajectory in Indonesia. Additionally, the impact of global economic conditions and supply chain dynamics will be crucial to monitor.
