Malaysia Sugar Market Overview
The Malaysia sugar market is a dynamic and significant component of the country’s economy, with a compound annual growth rate of 0.88% projected from 2021 to 2028. The market size is expected to reach US$1,001.596 million in 2028 from US$942.012 million in 2021.
Pricing
The retail price range for sugar in Malaysia is between US$ 0.38 and US$ 0.41 per kilogram or between US$ 0.17 and US$ 0.19 per pound. In 2024, the approximate wholesale price range for Malaysia sugar is between US$ 0.27 and US$ 0.29 per kilogram or between US$ 0.12 and US$ 0.13 per pound.
Exports and Imports
In the years 2016 to 2021, the export prices of Sugar from Malaysia per Kg were US$ 1.40, US$ 1.14, US$ 0.63, US$ 0.91, US$ 1.08, and US$ 1.11 respectively. The main destination of Raw Sugar exports from Malaysia are Vietnam, Singapore, South Korea, New Zealand, and Bangladesh. The import price per kilogram of sugar into Malaysia over the last five years has been quite volatile.
Market Drivers
ugar is widely used across different industry verticals such as food & beverage, and confectionary. The demand from the food and beverage industry is a key driver of sugar consumption and is predicted to have a favourable impact on the sugar business. The Malaysian food and beverage sector is relatively resistant to economic volatility.
Urbanization is another key driver of the sugar market in Malaysia. As more people move to urban areas, there is an increase in demand for processed foods and beverages, which often contain granulated sugar as an ingredient. The convenience and availability of processed foods and beverages in urban areas also contribute to the growth of the granulated sugar market.
Future Trends
Major companies are collaborating and investing in the sugar market due to the high demand for sugar in Malaysia. For instance, Central Sugar Refinery (CSR), a leading sugar refiner, announced a collaboration with award-winning food technology business Nutrition Innovation to introduce their groundbreaking new sugar production technology, Nucane Life, to Malaysia.
In conclusion, the Malaysia sugar market is a complex and evolving entity, influenced by a variety of factors ranging from global trade dynamics to local consumption patterns. It is expected to continue its growth trajectory in the coming years, driven by increasing demand from various sectors and ongoing innovations in sugar production technology.
