Forecast: Import of Fermented Milk Products to Malaysia

The import of fermented milk products to Malaysia has shown a varied trend from 2013 to 2023. Starting at 29.188 million USD in 2013, the value saw fluctuations, experiencing significant drops between 2014 and 2016, followed by a notable rebound from 2017 onwards. By 2023, imports recovered and stood at 33.425 million USD. The year-on-year variation over the last two years indicates a modest increase: 3.33% in 2022 and 3.16% in 2023. The average annual growth rate (CAGR) over the past five years was approximately 1.92%.

Looking ahead, the forecast suggests a continuing upward trend with a projected five-year CAGR of about 2.33%, indicating moderate growth. By 2028, imports are expected to reach 38.769 million USD, representing a predicted five-year growth rate of 12.22%.

Future trends to watch for include potential impacts from global dairy market dynamics, shifts in consumer preferences towards fermented products, and regional trade policies affecting importation. Additionally, economic factors such as currency fluctuations and changes in income levels could further influence these import levels.