The vegetables market size in Malaysia stood at 2.18 million metric tons in 2023. Over the past decade, the market has seen fluctuations with a notable peak in 2015 followed by periods of minor decreases and stable growth phases. The year-on-year variation has been relatively steady since 2020, hovering around 0.14%. The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 was 0.064%. The forecast through 2028 shows a forecasted five-year CAGR of 0.1% with a forecasted five-year growth rate of 0.5%, indicating a gradual increase in market size volume.
Future trends to watch for in the market include:
- Advancements in agricultural technology and practices.
- Increasing consumer demand for organic and locally sourced vegetables.
- Potential impacts of climate change on crop yields and market volumes.
