The alcoholic beverages market in Malaysia has shown a generally positive trend over the past decade, despite some fluctuations. From a value of 265.0 thousand metric tons in 2014, the market size increased to 302.0 thousand metric tons in 2023. The market experienced noticeable growth from 2014 to 2017, with the highest year-on-year increase at 4.9% in 2017, followed by a slight decline in 2018 and a more significant dip in 2020 by -4.35%. However, the market rebounded in 2021 with a 5.97% increase and continued to grow steadily, with a modest 0.67% year-on-year increase in both 2022 and 2023.
The compound annual growth rate (CAGR) over the last five years up to 2023 stands at 0.88%, reflecting consistent but moderate growth. Forecasts suggest the market will continue to grow, though at a marginally slower pace with a forecasted 5-year CAGR of 0.53%, resulting in a cumulative growth of 2.66% by 2028.
Future trends to watch include:
- Potential impacts of regulatory changes and taxation on alcohol consumption.
- Shifts in consumer preferences towards premium and low-alcohol beverages.
- Seasonal and economic factors affecting domestic production and imports.
