The sesameseed oil market in Malaysia stood at 3.0 Thousand Metric Tons in 2023. A year-on-year variation shows a continued decline of 0% for the years 2022 and 2023. Over the last 5 years, the sesameseed oil market has experienced an average annual decline of -5.59% (CAGR). While the volume remained constant at 4.0 Thousand Metric Tons from 2015 to 2019, it saw a sharper decline from 2020 onwards. The forecasted data points towards a continued downward trend, with the market expected to shrink further to 2.1 Thousand Metric Tons by 2028, indicating a 25% reduction over the next five years.
Future trends to watch for:
• Possible market adaptation to declining demand through diversification of product offerings.
• Potential for innovation and introduction of value-added sesameseed oil products to stabilize the market.
• Observation of external factors such as consumer health trends and economic conditions that may impact sesameseed oil consumption.