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Top Growth Opportunities: Meat in Malaysia

Top Growth Opportunities: Meat in Malaysia

Summary

Malaysia has one of the smallest Meat markets in value terms, worth US$1.36 billion in 2016. This is the partially the result of a decline over 2011 and 2016, with the CAGR down by -3.0%. This shows that Malaysian consumers have been cost conscious and have been cutting back on Meat purchase over the past five years. However, the Meat market is forecast to witness a CAGR of 7.4% over the five years to 2021. This indicates a shift in consumer trends in Meat, from value towards premiumization.

Despite being a relatively small market for Meat, Malaysia will see very strong growth in the sector over the next five years, with a CAGR of 7.4% by 2021. High demand for Meat and a large proportion of young consumers with a high level of meat consumption will drive this growth. Those with higher disposable incomes are also more willing to trade up for greater levels of sensory indulgence in products, and for the guarantee of higher quality and safety standards in ingredients, which will further drive value growth for Meat.

Malaysia is the smallest market in the global Meat sector in terms of per capita expenditure. Though the population rate and disposable income are increasing in the country, the Malaysian Meat market has been slow to recover and grow per capita expenditure in US dollar terms, due to a depreciating Malaysian Ringgit.

Weak consumer confidence in spending is the factor that would inhibit Meat sales growth. Malaysia has one of the lowest consumer confidence ratings in South East Asia, with recent political scandals only fueling this. High inflation and weak currency has made consumers unwilling to trade up when shopping for everyday food essentials.

Although Malaysia is now suffering from currency depreciation, it remains one of the fastest growing economies in the Asia Pacific, with the International Monetary Fund (IMF) predicting GDP growth of 4.5% year-on-year in 2017, up from 4.2% in 2016. This resilient economy and the rising GDP growth means there is a strong foundation for future market growth as consumer spending confidence returns over the next five years.

The report Top Growth Opportunities: Meat in Malaysia identifies the key demographic groups driving consumption, and what motivates their consumption. When combined with an in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. The report uses a unique method of quantifying consumer trends to highlight the degree of influence they have on consumption within the category.

In particular, this report provides the following analysis -

  • Key consumer demographic groups driving consumption within the Malaysian market. The figures showcase the number of times consumers of specific ages and gender consume Meat, as well as identifying whether these demographic groups over consume in the category (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall).
  • A study of market value and volumes over 2011-2016 for Malaysia, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
  • The degree of influence that the 20 key consumer trends identified by GlobalData have on Meat consumption volumes, with granular analysis on the extent that degree of influences varies between gender and age group.
  • Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
  • Examples of international and Malaysia-specific product innovation targeting key consumer needs.
Companies mentioned in this report: Ramly Food Processing Sdn. Bhd., Malaysian Flour Mills Berhad, Hormel Foods Corporation, Yeo Hiap Seng Ltd., Farm's Best Food Industries Sdn. Bhd., Mac Food Services Malaysia, Marina, F.Y Sdn Bhd, Ayamas Food Corporation Sdn Bhd, Victoria Crest Sdn Bhd.

Scope
  • Malaysia has one of the smallest Meat markets in value terms, which is partially the result of a decline over 2011 and 2016.
  • Malaysia is the smallest market in the global Meat sector in terms of per capita expenditure, although the population rate and disposable income are increasing in the country.
  • The Malaysian Meat market is forecasted to record strong growth over the next five years
  • In general, Malaysian men consume more Meat than their female counterparts, particularly in categories such as Ambient Meat, Chilled Raw Packaged Meat - Whole Cuts, and Frozen Meat.
Reasons to buy
  • This report brings together consumer analysis and market data to provide actionable insight into the behavior of Malaysia's Meat consumers.
  • This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Meat sector.
  • Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.


  • Introducing a top growth market for meat
    • Top opportunity markets
    • GlobalData Consumer's opportunity scoring methodology
    • Top 10 global growth opportunities scores
    • Top global issues
    • Assessment against global strategic issues
    • GlobalData's strategic issues map
    • Predicted future issues for the Global Meat sector
    • Malaysia's reward and risk assessment
    • Opportunity score – Malaysia Overview
    • Consumer Meat spending trends – peer group comparisons
    • Political, Economic, Social and Technological: Analysis
    • Enablers and inhibitors of growth
    • Malaysia – Rewards and opportunities for growth
      • Table Value of Malaysia's Meat market, 2011 – 2021
    • Summary of the Meat market in Malaysia
  • Market insight – identifying the opportunities to move into
    • Market growth by category
    • Value growth of the Malaysian Meat market by category
    • Contribution to change by value
      • Table Category values (US$ millions)
    • Volume growth of Malaysia Meat market by category
    • Contribution to change by volume
      • Table Category volumes (million Kg)
    • Level of premiumization by category
    • Category analysis – key drivers of change in Meat
  • Retail and distribution insight – key channels and retailers driving growth
    • Meat retail channel share – Malaysia
    • Key Retail Channel trends
    • Routes to market – retail overview
    • Routes to market – key retailers
    • Drivers of change in the Malaysian Meat sector
  • Company and brand insight – the competitive landscape defined
    • Meat category fragmentation
    • Company and brand strength
    • Private label penetration
    • Brand Share by leading supplier for total Meat
    • International and domestic brand analysis
      • Table Top 5 international Meat brands
      • Table Top 5 domestic Meat brands
    • Company and brand strength
  • Consumer insight – who, what, when, where and why
    • Strategic issues map – pitfalls and opportunities
    • Key consumer drivers for Meat
    • Key consumers trends in Malaysian Meat
    • Consumer Groups – Key consumer targets
      • Table 2016 Consumption volume shares by consumer group
    • Key Health & Wellness trends
    • Consumer trends summary
  • Product and packaging insights
    • Key Product Insights in Meat
    • Trends and strategic issues – other notable product trends
    • Product & Packaging insights – Key product innovation case studies
    • Key product innovation case study : Nutriplus Amakaraage Fried Chicken Chop
    • Key Packaging Insights
    • Trends and strategic issues – packaging material trends
    • Trends and strategic issues – packaging closure
    • Product launch key takeouts
  • White spaces and innovation opportunities – space to move into
    • Highest growth segments to target when entering the Malaysian meat sector
    • Consumer spaces to target when entering the Malaysian Meat market
      • Table Top volume CAGR categories 2011 – 2016
    • Segment focus – opportunities
    • Product launch key takeouts
    • Recommendations for new ways to enter the Meat Sector in Malaysia
  • Appendix
    • Category Definitions: Loose & Unpackaged sales of fresh and cooked meat are tracked
    • Category Definitions: Ambient Meat
    • Category Definitions: Frozen Meat
    • Category Definitions: Chilled Raw Packaged Meat – Whole Cuts
    • Category Definitions: Chilled Raw Packaged Meat – Processed
    • Category Definitions: Cooked Meats - Counter
    • Category Definitions: Cooked Meats - Packaged
    • Category Definitions: Fresh Meat (Counter)
    • Channel Definitions
    • Product Attribute Definitions: Food Minus
    • Product Attribute Definitions: Functional & Fortified
    • Product Attribute Definitions: Naturally Healthy (NH)
    • Product Attribute Definitions: Food Intolerance (FI)
    • Accreditation Definitions
    • Consumer Benefit Definitions: Performance
    • Consumer Benefit Definitions: Health Management
    • Consumer Benefit Definitions: Weight & Shape Management
    • Consumer Benefit Definitions: Beauty From Within
    • Consumer Benefit Definitions: General Wellbeing
    • Consumer Packaged Goods Retail Data
    • Health & Wellness data is built using detailed store audits in combination with market volumes from GlobalData's market data research

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