Import of Sugars and Sugar Confectionery to Malaysia stood at 1.0355 Billion US Dollars in 2023. Examining the year-on-year variation from 2022 to 2023, the import value increased by 1.42%. In the last five years leading up to 2023, the compound annual growth rate (CAGR) was 2.58%. From 2013 to 2023, the import value showcased a fluctuating trend, experiencing periods of both significant increase and decline. The forecasted growth from 2024 to 2028 suggests a moderate increase with an average annual growth rate of 1.12%, indicating steady but slow growth in the coming years.
Future trends to watch for:
- Global sugar prices and their impact on import values.
- Changes in domestic demand for sugar and sugar confectionery.
- Possible trade policies or tariffs that could affect import costs.
- Market shifts towards healthier alternatives impacting sugar imports.
