The import of prepared or preserved lobster to Malaysia has been steadily increasing. The actual value for 2023 stood at 497.5 thousand US Dollars. Starting in 2024, the forecasted values show a consistent upward trend: 518.28 thousand US Dollars in 2024, increasing by approximately 4.08% year-on-year by 2025 to 539.76 thousand US Dollars, and further displaying a similar pattern through to 2028, reaching 601.64 thousand US Dollars. The most recent year-on-year variation suggests a persistent growth trend that has averaged around a steady increase. Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) reflects an average yearly increase of around 4.05%.
Future trends to watch for include potential changes in international trade policies, fluctuations in global seafood prices, and shifts in consumer preferences towards sustainable and premium seafood options. Additionally, monitoring developments in domestic seafood production capabilities and competition from other importing nations will be critical.
