The demand for cocoa beans in Malaysia exhibited significant fluctuations over the past decade, peaking in 2014 at 203.0 thousand metric tons and gradually declining thereafter. By 2023, the demand stood at 154.0 thousand metric tons, reflecting a continuous downward trend with a year-on-year variation of -1.28%, and a CAGR of -2.19% over the last five years. Significant drops were observed in 2015 (-19.21%) and 2016 (-7.32%), with slight recoveries in 2017 (+2.63%) and 2018 (+10.26%). However, the overall trend from 2019 onwards has been negative, albeit with smaller year-on-year changes.
Looking forward, the forecast indicates a continued decline in demand, with the consumption expected to fall to 142.0 thousand metric tons by 2028. The forecast five-year CAGR is projected to be -1.22%, amounting to a total decrease of -5.96% over the period. This suggests a persistent downward trajectory in the market.
Future trends to watch for include potential shifts in consumer preferences, changes in import-export tariffs, influence of alternative products, and sustainability practices in cocoa production, which could further impact demand in Malaysia.
