The import of frozen vegetable mixtures to Malaysia has shown significant fluctuations from 2013 to 2023, with values reaching 28.535 million US dollars in 2023. The early years saw considerable volatility, notably with a steep increase in 2016 and 2017. However, post-2017, the imports experienced a correction, stabilizing and gradually growing, particularly from 2020 to 2023, which saw a moderate annual increase. In recent years, the imports have grown, with 2022 and 2023 showing positive year-on-year variations of 5.24% and 4.88% respectively. The last 5-year CAGR before 2023 was 7.73%, indicating a healthy trend in the market.
Future trends to watch for include:
- Continued growth with forecasted values reaching 34.811 million US dollars by 2028.
- A forecasted 5-year CAGR of 3.14%, suggesting steadier growth.
- Potential impact of economic changes, trade policies, and consumer preferences on import behaviors.