In 2023, Malaysia's domestic cotton consumption stood at 325.0 thousand units (480 lb. Bales). The forecasted data from 2024 to 2028 indicates a consistent upward trend. Between 2024 and 2025, the domestic consumption is expected to increase by approximately 1.22%. The years 2025 to 2026 show a growth of around 0.90%. Similarly, from 2026 to 2027, a rise of 1.19% is anticipated, and from 2027 to 2028, the forecasted growth is roughly 0.88%. The Compound Annual Growth Rate (CAGR) projected over the five-year period (2024-2028) is about 1.02%.
Future trends to watch for:
- Shifts in the global cotton market that could impact Malaysia’s import prices.
- Technological advancements in textile manufacturing influencing cotton demand.
- Changes in consumer preferences towards sustainable and alternative fibers.
