Indonesia will increase meat consumption by 1,321% over the next 30 years
Australia is eyeing the Indonesian meat market which is expected to grow by 1,321% over the next 30 years, according to a recent outlook released by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). According to the report, Indonesia’s middle class has been growing for the past two decades, increasing 13 percent between 2002 and 2016. It was classified by the world bank as an upper-middle income country in 2020 before one of the worst COVID 19 outbreaks in the world downgraded that classification.
However, after the country will resolve the sanitary crisis, incomes are expected to enter a growing trajectory and food consumption to rise as well. "(COVID 19) increased the number of Indonesia’s poor to 27.5 million people, or 10.1% of the population, and turned back 3 years of progress in poverty reduction. Once Indonesia navigates its way out of the health crisis, it should resume its trajectory to higher incomes,” says the report. Also, "significant growth in the number of restaurants and food stalls and the growing use of smartphones and food delivery services have supported consumer preferences for ready-made and prepared meals. Indonesia is at the forefront of many e-commerce platforms, encouraged by its young, higher income and urbanized population’s openness to new technology, particularly in food,", mentioned the outlook.
While it is coming off a low base, the report is predicting a 1,321% increase in meat consumption, despite currently trade barriers that keep meat imports low. In the end, over the next 30 years, a growing middle class in Indonesia and shifting diets to higher-value foods will make it harder for the country to resist importing.
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