Forecast: Tourism Supply of Food and Beverage Serving Services in Malaysia

The supply of food and beverage serving services in Malaysia has shown significant growth over the past decade. In 2023, the supply stood at 120.51 billion Malaysian Ringgits. From 2013 to 2019, there was a consistent increase, peaking at 96.03 billion in 2019, with year-on-year variations reflecting robust growth rates. However, the industry experienced a sharp decline in 2020 due to the COVID-19 pandemic, with a year-on-year decrease of 21.08%. The industry rebounded in subsequent years, reaching 107.62 billion in 2022 with a 15.53% year-on-year growth. The average annual growth rate (CAGR) from 2023 to 2028 is forecasted to be 4.48%, indicating a steady but moderate growth trend.

Future trends to watch for include:

• Increased digitalization and online food delivery services.
• Sustainability and eco-friendly practices in food and beverage offerings.
• Rising consumer demand for diverse and healthy food options.
• Continued recovery and growth post-pandemic driven by tourism resurgence.