The livestock revenue in Malaysia has shown steady growth from 2013 to 2023, starting at 10.97 billion MYR in 2013 and reaching 20.77 billion MYR in 2023. During this period, the overall compound annual growth rate (CAGR) was 5.59%, demonstrating consistent expansion in the sector. The year-on-year growth for the most recent year, 2023, stood at 4.77%. The forecast for 2024 and beyond indicates continued growth, with a forecasted revenue of 21.71 billion MYR in 2024 and a CAGR of 3.13% over the next five years. This suggests a moderate but stable increase, with a predicted total growth of 16.66% by 2028.
Future trends to watch for include:
- Technological advancements in livestock farming which could enhance productivity and efficiency.
- Shifts in consumer preferences towards sustainable and organic meat products.
- Government policies and subsidies aimed at promoting the livestock industry.
- Potential impacts of climate change on livestock health and pasture land availability.
- Global market trends and their influence on Malaysia’s export opportunities.
