In 2023, the volume of the olive oil market in Indonesia stood at 2.0 thousand metric tons. From 2014 to 2019, the market remained stable at 2.0 thousand metric tons, with a notable dip to 1.66 thousand metric tons in 2020, a 17% decrease from the previous year. A recovery followed, reaching the 2.0 thousand metric tons mark again by 2021. Over the past five years (2019-2023), the CAGR was flat at 0%.
The forecasted data suggest a modest growth trajectory, with a 1.76% CAGR for the next five years, reaching an estimated 2.27 thousand metric tons by 2028. This indicates a total growth of 9.13% over this period.
Future trends to watch include increasing consumer awareness of health benefits associated with olive oil, potential regulatory changes impacting imports, and evolving culinary habits favoring healthier oil alternatives. Monitoring these factors will be crucial for understanding the market dynamics over the coming years.
