In 2023, Malaysia's domestic food consumption of palm oil stood at a certain value. Based on forecasted data, there is a steady increase in consumption from 884.0 thousand metric tons in 2024 to 939.0 thousand metric tons by 2028. This represents a consistent year-on-year growth rate: 1.58% from 2024 to 2025, 1.56% from 2025 to 2026, 1.43% from 2026 to 2027, and 1.51% from 2027 to 2028. Over the five-year period from 2024 to 2028, this gives a Compound Annual Growth Rate (CAGR) of approximately 1.52%.
Future trends to watch for include:
- Possible changes in domestic consumption patterns due to health initiatives and dietary shifts.
- Impact of economic factors and policy regulations on palm oil production and consumption.
- Technological advancements in palm oil processing, which may influence consumption rates.
- Global market dynamics, including export fluctuations and trade agreements, affecting local demand.
