The import of soy sauce to Indonesia has generally shown an upward trend from 2013 to 2023, with a few fluctuations. In 2023, the volume stood at 23.056 million kilograms, reflecting a year-on-year increase of 3.83%. From 2018 to 2023, the compound annual growth rate (CAGR) was 3.33%, demonstrating moderate growth over a five-year span. Significant growth spurts were observed in 2018 and 2021, driven by 22.58% and 25.7% year-on-year increases, respectively.
Looking at the forecast from 2024 to 2028, a steady growth trajectory is anticipated, culminating in a projected volume of 27.5 million kilograms by 2028. This forecasted period suggests an average annual growth rate of 2.77%, translating to an overall increase of 14.63% over five years.
Future Trends to Watch For:
- Potential market expansion in response to rising demand for soy sauce and other Asian condiments in Indonesia.
- Impact of global supply chain dynamics and trade policies on import volumes.
- Shifts in consumer preferences towards healthier and diversified condiment options.
- Technological advancements in food production that may affect import requirements.
