The Mixed Odoriferous Substances for Industrial Use market in Malaysia has exhibited a fluctuating trend over the past decade. In 2023, the market size value per capita stood at $7.91. This marks a year-on-year increase of approximately 2.2% from 2022. Over the past two years, the market recovered from a dip in 2020, which exhibited a significant decline. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was approximately 1.93%, indicating steady growth.
Future trends to watch include:
- Potential impact of economic conditions on industrial use.
- Technological advancements driving demand for diverse odorant applications.
- Environmental regulations potentially affecting market dynamics.
