Forecast: Food and Beverage Industry Contribution to GDP in Malaysia

The food and beverage industry in Malaysia contributed 3.3 units to GDP in 2023. Over the past decade, the sector has exhibited a general upward trend, with fluctuations in certain years. Notably, the industry experienced a shortfall in 2020 and 2021 but recovered by 2022. The contribution grew from 2.1 units in 2013 to 3.3 units in 2023. The forecast predicts a steady increase, reaching 3.9 units by 2028.

- From 2022 to 2023, the industry saw a year-on-year variation of 6.45%.
- The two-year trend from 2022 to 2024 shows robust growth with a 6.45% increase.
- The last five-year CAGR stands at 2.19%, indicating moderate annual growth.

Future Trends to Watch For:

- Continued economic recovery impacting consumer spending.
- Innovations in food technology and sustainability driving industry changes.
- Increasing export opportunities and regional trade agreements.