Over the past decade, the import of sugar confectionery to Indonesia has exhibited fluctuating trends. From a significant rise of 43.18% in 2016 to a decrease of 14.52% in 2020, the market has experienced several peaks and troughs. The value of imports in 2023 stood at 20.275 million kilograms, representing a modest year-on-year increase of 2.58% and a five-year CAGR of 3.6%.
Looking at the forecast from 2024 to 2028, the imports are projected to grow steadily, reaching 22.944 million kilograms by 2028. This represents an average annual growth rate of 1.95% over the next five years, resulting in an overall growth rate of 10.12% by 2028.
Future trends to watch for:
- Potential market recovery or slowdown influenced by global economic conditions.
- Evolving consumer preferences towards healthier confectionery options.
- Impact of trade regulations and tariffs on import volumes.
- Technological advancements in production and supply chains.
