The Malaysian beer market has shown considerable fluctuations from 2014 to 2023. Starting at 259.0 thousand metric tons in 2014, the market experienced periods of growth and decline, with notable dips in 2018 and 2020. However, from 2021 onward, the market has seen modest and steady increases, reaching 296.0 thousand metric tons by 2023. Notably, there was a 0.68% year-on-year increase in 2023, with a compound annual growth rate (CAGR) of 0.9% over the past five years.
The forecast from 2024 to 2028 predicts a gradual upward trend, with an estimated 306.2 thousand metric tons by 2028. The expected 5-year CAGR stands at 0.54%, indicating moderate but consistent growth.
Future trends to watch for include:
- Potential market stabilization following sporadic declines and growth in the previous years.
- Incremental rises in beer volume consumption, suggesting increased market saturation or changes in consumer behavior.
- Potential impacts from regulatory changes, economic conditions, and shifts in consumer preferences towards alternative beverages.