The demand for coconuts and copra in Malaysia experienced a fluctuating trend from 2014 to 2023. In 2015, there was a significant increase of 4.76% compared to 2014. However, in 2016, the demand sharply fell by 19.76%. Post-2016, the market displayed sporadic increases and decreases, with a noticeable general downward trend from 2018 to 2023. By 2023, the demand stood at 595.0 thousand metric tons, registering a year-on-year reduction of 1.16% and a 5-year CAGR of -0.98%.
Projected data from 2024 to 2028 indicates a continuing decrease in demand, with an annual average decline of about 0.97%. By 2028, the market is forecasted to shrink by 4.76% over five years.
Future trends to watch for:
- Potential market stabilization efforts or increased utilization of coconuts and copra in emerging industries could alter the demand trajectory.
- Technological advancements in agriculture may influence copra production costs and volume, impacting market demand.
- Changes in dietary trends and consumer preferences towards healthier organic products could affect consumption rates of coconut-based products.
