The short margarine production in Malaysia has exhibited remarkable growth from 2013 to 2023. In 2023, the production volume stood at 259.82 thousand metric tons. Throughout this period, the sector experienced significant annual fluctuations, marked by extremely high year-on-year growth in 2016 and a mixed pattern of increases and slight decreases in subsequent years. Specifically, the production dropped by 1.81% in 2020, while recent figures from 2021 and 2022 reflect positive growth of 8.61% and 3.02%, respectively. The average annual growth rate (CAGR) over the last five years settled at 3.32%.
Looking ahead, the forecast from 2024 to 2028 suggests a steady increase in production, with an expected average annual growth rate (CAGR) of 2.14%, culminating in a growth rate of 11.19% over this period. This indicates a consistent upward trajectory, albeit at a moderated pace compared to previous years. Trends to watch for include potential impacts from changes in consumer preferences, health trends influencing product formulations, and regulatory changes affecting production capacities.
