The wheat market size in Malaysia stood at 1.59 million metric tons in 2023, marking a steady year-on-year growth rate of 1.34% from 2022. Over the past five years, the compounded annual growth rate (CAGR) has been 1.21%, reflecting a moderate but consistent upward trend. Notably, growth was more pronounced in the earlier years (2014-2017), averaging double digits at times, but has tapered to a slower pace in recent years. Looking ahead, the market is forecasted to reach 1.69 million metric tons by 2028, translating to a forecasted CAGR of 0.95% and a cumulative growth rate of 4.84% over the next five years.

Future trends to watch for:

A potential shift in the wheat market due to changes in consumer dietary preferences.
Impact of climate change on wheat production and supply chain dynamics.
Technological advancements in agriculture that may enhance production efficiency.
Economic policies and trade agreements influencing wheat imports and exports.
Emerging competition from alternative grains and substitutes.