Citation
Mohd Hafizudin Z., . and Amin Mahir A., . and K. Nitty Hirawaty, . and Ismail A. L., . (2013) Macro outlook of herbal industry in Malaysia. [Proceedings Paper]
Abstract
Efforts to increase Gross National Income GNI in recent years has stimulated the government to focus on the herbal industry as one of the sectors to contribute to the growth of Gross Domestic product GDP. The National Agro-Food Policy and National Key Economic Areas NKEA had identified herbal industry as a new source of wealth for Malaysia. This paper highlights the macro outlook of the herbal industry in Malaysia while discussing a wide range of topics of herbal industry development which includes current issues challenges suggestions and the way forward to enhance the performance of the industry. Primary and secondary data were collected using personal interviews and books as well as agency reports as references. Additionally information were also gathered from database providers such as the Supply Demand Virtual Information SDVI of FAMA the UN Comtrade the Global Trade Information Services GTIS and the Department of Statistics of Malaysia. The Malaysian herbal industry has an estimated growth rate of 15 per annum and the industry is projected to have an estimated market value of RM15 billion and RM29 billion in 2015 and 2020 respectively. With regard to these amounts 70 of market value is contributed by Chinese Medicine and the rest by Malay herbs including Indonesian Jamu and Indian herbs Ayurvedic. The numbers reflect the increasing popularity and usage of herbal and natural products in Malaysia. A few strategies were suggested in stimulating the growth of this industry.
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Abstract
Efforts to increase Gross National Income GNI in recent years has stimulated the government to focus on the herbal industry as one of the sectors to contribute to the growth of Gross Domestic product GDP. The National Agro-Food Policy and National Key Economic Areas NKEA had identified herbal industry as a new source of wealth for Malaysia. This paper highlights the macro outlook of the herbal industry in Malaysia while discussing a wide range of topics of herbal industry development which includes current issues challenges suggestions and the way forward to enhance the performance of the industry. Primary and secondary data were collected using personal interviews and books as well as agency reports as references. Additionally information were also gathered from database providers such as the Supply Demand Virtual Information SDVI of FAMA the UN Comtrade the Global Trade Information Services GTIS and the Department of Statistics of Malaysia. The Malaysian herbal industry has an estimated growth rate of 15 per annum and the industry is projected to have an estimated market value of RM15 billion and RM29 billion in 2015 and 2020 respectively. With regard to these amounts 70 of market value is contributed by Chinese Medicine and the rest by Malay herbs including Indonesian Jamu and Indian herbs Ayurvedic. The numbers reflect the increasing popularity and usage of herbal and natural products in Malaysia. A few strategies were suggested in stimulating the growth of this industry.
Additional Metadata
| Item Type: | Proceedings Paper |
|---|---|
| Additional Information: | Available at Perpustakaan Sultan Abdul Samad Universiti Putra Malaysia 43400 UPM Serdang Selangor Malaysia. QK99 M3S471 2012 Call Number. |
| AGROVOC Term: | Herbs herbaceous plants |
| AGROVOC Term: | Medicinal herbs |
| AGROVOC Term: | Industry |
| AGROVOC Term: | Policies |
| AGROVOC Term: | Trade |
| AGROVOC Term: | Commercialization |
| AGROVOC Term: | Production |
| AGROVOC Term: | Supply |
| AGROVOC Term: | Sustainability |
| Geographical Term: | MALAYSIA |
| Depositing User: | Ms. Suzila Mohamad Kasim |
| Last Modified: | 24 Apr 2025 05:16 |
| URI: | http://webagris.upm.edu.my/id/eprint/13728 |
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