Beef production in Indonesia stood at 511.12 thousand metric tons in 2023. The production has shown fluctuations over the past decade, with a general upward trend despite occasional declines. Noteworthy years include 2016, where a significant production increase was observed, and 2020, which experienced a marked decline. The year-on-year variation for 2022 and 2023 was generally modest, at 0.8% and 0.78% respectively. Over the last five years, the compound annual growth rate (CAGR) has been positive at 0.52%. Looking ahead, the forecasted CAGR for the next five years is 0.62%, indicating a stable growth trajectory. By 2028, production is projected to reach 531.67 thousand metric tons, reflecting a 3.15% growth from 2023 levels.
Future trends to watch for:
- Technological advancements and their impact on production efficiency.
- Government policies and regulations affecting the beef industry.
- Changes in consumer demand and dietary preferences.
- Environmental concerns and their influence on production practices.
