In 2023, imports of essential oils, perfumes, cosmetics, and toiletries to Malaysia were valued at 1.3 billion USD. In 2024, the forecasted value rises to 1.3379 billion USD and continues an upward trend, reaching 1.4943 billion USD by 2028. Year-on-year variations from 2024 to 2028 show a steady increase: 3.01% in 2025, 2.86% in 2026, 2.73% in 2027, and 2.60% in 2028. The Compound Annual Growth Rate (CAGR) over the five-year period is 2.94%.
Future trends to watch for:
- Rising consumer demand for premium and organic products.
- Technological advancements in product formulations.
- Increased e-commerce penetration for cosmetics and personal care items.
- Regulatory changes affecting import tariffs and market access.