Based on the data, the infant food market in Malaysia has exhibited moderate growth over the past decade, with a market size of 56.0 Thousand Metric Tons in 2023. Key variations include a significant increase between 2014 and 2016, followed by steady growth with occasional dips such as in 2020. The most recent CAGR over the last five years is 1.11%, reflecting a stable yet gradual increase. Similarly, the year-on-year growth for 2023 is noted at 1.82%.
Looking towards the forecasted period (2024-2028), the market is expected to grow at a slower pace, with a projected CAGR of 0.87% and an overall growth rate of 4.42%. This indicates sustained but modest expansion through 2028.
Future trends to watch for include potential shifts driven by changes in consumer preferences towards organic and specialty infant foods, advances in nutritional science, and economic factors influencing purchasing power in Malaysia.
