In 2023, the revenue for oils and fats in Malaysia stood at 14.78 billion Malaysian Ringgits. The forecasted revenue numbers from 2024 to 2028 indicate steady growth: 15.11 billion in 2024, 15.44 billion in 2025, 15.77 billion in 2026, 16.09 billion in 2027, and 16.41 billion in 2028. This shows a year-on-year percentage increase as follows: 2.23% (2024), 2.18% (2025), 2.14% (2026), 2.03% (2027), and 1.99% (2028). The compound annual growth rate (CAGR) over the five years is approximately 2.11%.
Future trends to watch for include the increasing focus on health and wellness, driving demand for healthier oil and fat options. Additionally, advancements in production technology and sustainable practices may shape the market dynamics. Monitoring global market conditions and trade policies will also be crucial as they could impact supply chains and pricing.
