The import of Vitamin C to Malaysia has shown significant fluctuations over the past decade. In 2023, the volume stood at 1.1582 million kilograms. Notable variations include a high of 1.4201 million kilograms in 2013 and subsequent declines in 2014 and 2015, followed by intermittent growth and declines. For instance, 2020 saw a slight increase of 4.43% year-on-year, whereas 2022 experienced a 9.57% decrease. Over the last two years, the year-on-year variation was -9.57% in 2022 and -0.52% in 2023. The Compound Annual Growth Rate (CAGR) for the most recent five years was -1.58% up to 2023.
Looking ahead, forecasted data suggest a gradual decline in vitamin C imports, with the volume expected to decrease to 1.1358 million kilograms by 2028. The forecasted 5-year CAGR stands at -0.44%, indicating a marginal yearly negative growth rate.
Future trends to watch for:
- Potential changes in domestic production capabilities that could offset import needs.
- Trade policies and tariffs that may impact the cost-effectiveness of importing Vitamin C.
- Market demand influenced by health trends and public awareness regarding Vitamin C intake.
- Possible advancements or alternatives in dietary supplements which could affect Vitamin C import volumes.
