The olive oil market size in Malaysia stood at 1.0 thousand metric tons in 2023. From 2014 to 2023, the market showed fluctuations with a peak in 2017 at 2.0 thousand metric tons. A notable drop happened in 2018 with a decrease of 50%, followed by a slight decline in 2020 and recovery in 2021 with a year-on-year increase of 5.26%. Over the last five years, the market experienced a stagnant trend with a CAGR of 0% from 2019 to 2023.
Future Trends to Watch For:
- Steady decline with a forecasted 5-year CAGR of -0.61% from 2024 to 2028.
- Potential shifts in consumer preferences towards locally produced oils.
- Impact of economic conditions and import tariffs on market size.