The demand for cassava in Malaysia has shown significant growth over the past decade, starting from 234.0 thousand metric tons in 2014 to 367.0 thousand metric tons in 2023. The year-on-year variation was particularly notable in 2016 with a remarkable increase of 40.78%, while the demand saw a decline in 2018 by 14.4%. Year-on-year growth became more stable in recent years, with an average CAGR of 3.1% over the past five years leading up to 2023.
Future forecast data indicates steady growth with a 5-year CAGR of 1.3% from 2023 to 2028, anticipating demand to reach 399.0 thousand metric tons by 2028, reflecting a growth rate of 6.68% over the forecast period.
Future Trends to Watch For:
- Potential impacts of climatic changes on cassava yield and production.
- Technological advancements in agriculture that may improve cassava productivity.
- Shifts in consumer preferences and possible new applications of cassava.
- Government policies and initiatives aimed at promoting cassava cultivation.
