The demand for bananas in Malaysia showed varying trends from 2014 to 2023. It stood at 336.0 thousand metric tons in 2023, demonstrating a modest year-on-year increase of 0.6% annually. Over the last two years, demand growth averaged around 0.73% per year, exhibiting relative stability. Despite some fluctuations from 2014 to 2017, the overall trend since 2018 has been a gradual increase in the volume.
Trends to watch for in the future include:
- Continued incremental growth in banana demand, forecasted at a 5-year CAGR of 0.35% from 2024 to 2028.
- Potential influences of changing consumer preferences and economic conditions on banana consumption.
- Emerging sustainability trends and their impact on banana supply chains, possibly affecting availability and costs.