Based on the analysis of fresh milk production in Malaysia, the volume stood at 41.6 million liters in 2023. There has been a positive trend overall, with a notable increase from 28.8 million liters in 2013 to 41.6 million liters in 2023. Examining year-on-year variations provides insights, with 2021 experiencing a significant drop of 7.42%. However, 2022 witnessed a recovery with a 6.72% growth, and 2023 saw stability with a marginal 0.73% increase. Over the last five years, the Compound Annual Growth Rate (CAGR) has been 1.56%.
Forecasting ahead, production is expected to grow modestly, reaching 42.6 million liters by 2028. This indicates a forecasted 5-year CAGR of 0.33%, suggesting a stable but slow growth trajectory.
Future trends to watch for include:
- Technological advancements in dairy farming
- Government policies promoting local milk production
- Increasing consumer demand for fresh and organic products
- Impact of climate change on agricultural output
