The demand for groundnuts in Malaysia is forecasted to steadily increase from 75.0 thousand metric tons in 2024 to 83.0 thousand metric tons in 2028. This represents a compounded annual growth rate (CAGR) of approximately 2.6% over the five-year period.
Year-on-year growth percentages indicate a consistent 2.67% increase each year:
- 2024 to 2025: 2.67% increase
- 2025 to 2026: 2.60% increase
- 2026 to 2027: 2.53% increase
- 2027 to 2028: 2.47% increase
In 2023, the actual demand stood at 73.0 thousand metric tons, highlighting a consistent upward trend in groundnut demand in Malaysia.
Future trends to watch for include potential market shifts driven by changes in consumer preferences, advancements in food technology, and agricultural policies. Additionally, global factors such as trade policies and climate change could affect groundnut production and supply, influencing the overall demand landscape in Malaysia.
