The import of hair preparations to Malaysia demonstrates an overall upward trend since 2013. The value stood at $126.16 million in 2023. Over the most recent years (2022-2023), the year-on-year variation shows a steady increase of 2.27%. The compounded annual growth rate (CAGR) over the past five years is 2.07%, indicating moderate expansion. This trend suggests a persistent increase in the demand for hair preparations in the country.
Looking ahead, the forecast period through 2028 indicates a continued growth, albeit at a slower rate with a five-year CAGR of 1.57%. This anticipates an aggregate growth rate of 8.11% over the coming five years, reflecting stable but modestly growing market conditions.
Trends to watch for include shifts in consumer preferences towards natural and organic hair care products, the impact of economic fluctuations on discretionary spending, and potential disruptions in global supply chains which may affect import volumes and values.
