The actual figures show a steady upward trend in wheat processing in Malaysia, culminating in 2023 at 73.0 Thousand Metric Tons. Year-on-year variations since 2014 indicate periods of moderate to rapid growth, with particularly sharp increases in 2015 and 2016. The last two years have shown a more modest increase, 1.39% from 2022 to 2023. Over the last five years, the CAGR stands at 1.73%, suggesting a decent average annual growth rate.
Looking ahead to 2028, forecast data predicts a 6.67% total growth from 2024, with a 5-year CAGR of 1.3%, indicating continued, albeit slower, growth. Future trends to watch include:
- Government policies affecting agricultural and processing sectors.
- Global wheat market conditions and prices.
- Technological advancements in processing efficiency.
- Changing dietary preferences and domestic demand.
