Over the last decade, Malaysia's production of non-carbonated sweet beverages has shown noticeable volatility. Starting at 3.664 billion liters in 2013, it experienced a significant drop in 2014, followed by modest variations until 2018, when it peaked again before entering a gradual decline.
In 2023, production stood at 2.2722 billion liters, showing a 9.38% increase from 2022. However, the overall trend from 2021 to 2023 is downward with a CAGR of -4.33% over these years.
Future trends for 2024-2028 signal a continuing downward trend with a forecasted 5-year CAGR of -3.53%, resulting in an estimated production of 1.8214 billion liters in 2028, a 16.45% decline from 2023.
Key future trends to watch for include:
- Shifts in consumer preferences towards healthier options, possibly reducing demand for sweetened beverages.
- Potential regulatory changes targeting sugar content, which could further impact production volumes.
- Market innovations and new product introductions that may mitigate the declining trend.