In 2023, Indonesia's banana demand stood at 7.32 million metric tons, reflecting a slight year-on-year increase of 0.12%. The compounded annual growth rate (CAGR) over the last five years from 2019 to 2023 is approximately 0.19%. Historically, demand experienced significant fluctuations, with notable year-on-year variations: a peak in 2015 with a 38.34% increase, and a contraction of 26.29% in 2016. Post-2020, demand stabilized with modest growth rates ranging from 0.12% to 5.41%.
Looking forward, the forecast suggests a continued steady growth in banana demand, expecting a CAGR of 0.11% until 2028. This indicates a mature market with minimal fluctuations.
Future trends to watch for:
- Potential impacts of climate change on banana production.
- Shifts in consumer preferences towards organic and sustainably sourced produce.
- Technological advancements in agricultural practices and supply chain efficiencies.