The food crops revenue in Malaysia has shown significant growth over the past years, starting from 3.98 billion Malaysian Ringgits in 2013 and reaching 8.1 billion in 2023. Despite a few fluctuations, such as the decline in 2020 to 5.72 billion, the overall trend has been positive. The year-on-year variation highlights periods of robust growth, notably in 2015 (20.15%) and 2022 (22.06%). The last five years manifested an average annual growth (CAGR) of 3.94%. As per forecasts, the market is expected to grow at a 5-year CAGR of 4.06%, culminating in a 22.04% increase by 2028.
Future trends to watch for:
- Impact of climate change on crop yields
- Adoption of technological advancements in agriculture
- Shift in consumer preferences towards organic and sustainable food sources
- Government policies supporting agricultural innovation and funding
- Global market dynamics affecting export potential
