Over the past decade, beef meat demand in Malaysia has shown variability, with significant fluctuations between 2014 and 2023. From 2014 to 2015, there was a notable increase of 9.47%, followed by declines in 2016 and 2017 at -3.24% and -3.35%, respectively. A recovery began in 2018 with a 4.62% rise. The demand saw slight declines and fluctuations until 2021, where it rebounded with a 5.84% increase. From 2022 to 2023, growth was modest, with the demand standing at 183.0 thousand metric tons in 2023, growing by 0.55% from the previous year.
Future trends to watch for include stability with a forecasted growth rate of 1.57% over the next five years and an average CAGR of 0.31%. Market dynamics, consumer preferences, and economic factors will significantly influence the demand trajectory.
