The import of non-fresh foliage and branches for bouquets to Malaysia has shown significant fluctuations over the past decade, with notable peaks in 2018 and consistent growth since then. As of 2023, the import volume stood at 1343.8 thousand kilograms, increasing from 1280.6 thousand kilograms in 2022. The year-on-year variations for 2022 and 2023 were 5.3% and 4.93%, respectively. The compound annual growth rate (CAGR) over the last five years is 11.92%, highlighting a robust average growth trend despite some annual fluctuations.
Looking forward, the forecasted CAGR from 2024 to 2028 is expected to be 3.14%, translating to a forecasted growth rate of 16.74% over this period. By 2028, the import volume is predicted to reach 1640.9 thousand kilograms.
Future trends to watch include:
- Potential impacts of trade policies and tariffs on import volumes.
- Changes in consumer preferences towards sustainable and eco-friendly products.
- The influence of economic conditions and disposable income on demand for decorative foliage.
- Technological advances in supply chain logistics which may affect import efficiency and costs.
