Market Size of Malaysia Retail Sector
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 89.66 Billion |
| Market Size (2029) | USD 119.64 Billion |
| CAGR (2024 - 2029) | 5.94 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Malaysian Retail Market Analysis
The Malaysia Retail Market size is estimated at USD 89.66 billion in 2024, and is expected to reach USD 119.64 billion by 2029, growing at a CAGR of 5.94% during the forecast period (2024-2029).
The Malaysian retail industry has been one of the largest contributing sectors to the country's gross domestic product (GDP) for the past decades. Several national and international brands have been performing in the country with a broad range of retail outlets across the nation. Despite several new store launches and a broad network of stores, the retail industry has registered a slow rate during the study period, which was drastically dropped during 2020 owing to the COVID-19 pandemic. The movement control order (MCO) restricted the public movement, and the lockdown, which was originally expected to last for two weeks in March 2020 and extended to mid-May 2020, has resulted in a sudden drop in total revenue generated from the retail sector. The sector contracted by around 16% in 2020. Some of the retail segments recorded a great contract, including double-digit contractions during 2020, which includes apparel, footwear, fashion accessories, and others. Similarly, one of the largest distribution channel segments - the hypermarkets, supermarkets, and convenience stores - recorded a drop in the total sales generated.
