The beef meat production in Malaysia has seen a consistent decline from 2014 to 2023, with production decreasing from 53.0 thousand metric tons to 44.0 thousand metric tons. Notably, the year-on-year variation in 2023 stood at -2.22%, and the compound annual growth rate (CAGR) over the last five years was -1.31%. This downward trend highlights sustained challenges in the sector. From 2024 onwards, the production is forecasted to continue its decline, reaching 41.62 thousand metric tons by 2028, with a forecasted 5-year CAGR of -0.92% and an overall 5-year growth rate of -4.53%.
Future trends to watch for include factors such as changing domestic demand, potential improvements in farming practices, and government policies aimed at supporting local production. Additionally, shifts in global beef market dynamics and potential impacts of climate change on agriculture could significantly influence future production outcomes.
