Top Growth Opportunities: Dairy & Soy Food in Indonesia
Summary Indonesia is the smallest market amongst the top ten countries in terms of per capita expenditure (US$ terms). The per capita expenditure on dairy and soy food products is growing rapidly and is supported by an increasing population and rising disposable income levels.
Indonesia is one of the largest dairy markets in the world with a value of over US$8bn in 2016. Combined with strong forecast growth of 8.6% CAGR over the 2016-2021 periods highlights it high reward score rank. The market is benefitting from Indonesia’s strong economy, and the increasing middle class is creating high demand for dairy products because they are perceived to be a simple and healthy way to improve consumers’ health.
Indonesia’s dairy market is forecast to see strong CAGR growth through to 2021 with forecast growth at 8.6% making it a key opportunity for international producers to expand their operations. The country’s large and growing economy is creating a wealthy, urbanized middle class that is developing Western tastes, such as dairy. For many of these middle class consumers dairy, especially milk, is seen as a healthy product that is a good source of essential nutrients for children. However, the country’s high level of corruption and the state’s overly active presence in the economy will hinder the development of private companies in many industries, such as dairy, in the long term.
Off-trade dairy sector accounted for higher value in US$ terms than on-trade, an effect mirroring general moves amongst the Indonesian consumers towards more consumption occurring within the home. Furthermore, the off-trade sector will record higher growth than on-trade in US$ terms in the next five years. Indonesia has a large young population which is aiding the growth of the dairy market, especially in the off-trade sector.
The report "Top Growth Opportunities: Dairy & Soy Food in Indonesia" provides recommended actions and detailed analysis of how to target the best growth opportunities for dairy and soy food producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of dairy and soy food markets in Indonesia.
In particular, this report provides the following analysis - - Key consumer demographic groups driving consumption within the Indonesia market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why. - A study of market value and volumes over 2011-2016 for Indonesia, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period. - White space analysis, to pinpoint attractive spaces in the market and the key actions to take. - Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future. - Examples of international and regional product innovation targeting key consumer needs.
Companies mentioned in this report: Royal Friesland Campina N.V, Nestle S.A, P.T. Indofood CBP Suskes Makmur Tbk.
Scope - The Indonesian dairy market grew at a CAGR of 1.5% between 2011-2016 but is forecast to grow at a CAGR of 8.6% from 2016-2021 in value terms. - The market is valued at US$ 8.8 billion, as of 2016. - Friesland Campina is the most important company in the Indonesian dairy market with a 17.4% share of the market.
Reasons to buy - This report brings together consumer analysis and market data to provide actionable insight into the behavior of Indonesia’s dairy consumers. - This is based on GlobalData’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Dairy sector. - Category, brand, and packaging dynamics are also examined. - This allows product and marketing strategies to be better aligned with the leading trends in the market.
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