The final consumption expenditure on food and non-alcoholic beverages in Malaysia showed significant growth from 2013 to 2023, with the value standing at 273.63 billion Malaysian Ringgits in 2023. Year-on-year growth rates from 2013 to 2023 ranged from a peak of 12.22% in 2017 to a low of 6.16% in 2023. The compound annual growth rate (CAGR) over the last five years (2018-2023) averaged at 7.54%, indicating a deceleration in growth.

Looking forward, the forecasted CAGR from 2024 to 2028 is projected to be 3.92%, translating to an overall forecasted growth of 21.18% over this five-year period. Trends suggest a continued increase in expenditure but at a slower pace compared to the previous decade.

Future trends to watch for include:

The impact of inflation on consumer spending patterns.
Potential shifts towards healthier and more sustainable food and beverage options.
The influence of technology and e-commerce on food and beverage retail.
Changes in demographics and urbanization affecting consumption habits.