The pork market in Malaysia stood at 256 thousand metric tons in 2023. From 2014 to 2023, the market exhibited fluctuations with year-on-year growth and decline rates, with significant variations noticed in 2015 (3.24%), 2016 (-5.1%), 2018 (5.33%), 2020 (-5%), and 2021 (5.68%). The compound annual growth rate (CAGR) over the last five years from 2019 to 2023 shows an average annual decrease of 0.078%. Forecasts indicate moderate growth, with the market expected to reach approximately 259.16 thousand metric tons by 2028, reflecting a 5-year forecast CAGR of 0.18%.
Future trends to watch for include:
- Potential impacts of changing dietary preferences and health consciousness among consumers.
- The influence of policy changes and regulations in the pork industry.
- Technological advancements in meat production and processing.
- Economic factors such as inflation and disposable income levels affecting consumer spending.