Since 2013, the import of frozen vegetables to Malaysia has experienced significant fluctuations. The value stood at $55.236 million in 2023. Over the past decade, notable growth was seen, particularly in 2016 with a 49.78% increase, and 2017 with a 64.86% rise. However, there were periods of decline, such as in 2015 (-22.29%) and 2018 (-11.5%). In recent years, the trend shows more stable growth with a CAGR of 4.62% from 2019 to 2023. The forecast from 2024 onwards predicts a steady rise, expecting a $65.897 million value by 2028, with a 2.77% forecasted CAGR over the next five years.
Future trends to watch for include:
- Potential impact of global economic conditions on import volumes.
- Changes in dietary preferences leading to higher consumption of frozen vegetables.
- Government policies and trade agreements affecting import prices and regulations.
- Technological advancements in food preservation and logistics that could streamline the import process.
