PROSPECTS AND OPPORTUNITIES
The stability of the raw material supply is likely to encourage players to boost volume sales over the forecast period
The unit selling price of sauces, dips and condiments is anticipated to decline marginally over the forecast period due to more stable raw material prices in areas such as packaging (metal tins, glass jars, paper cartons and more) as well as ingredients (fresh chillis, tomatoes, herbs, and spices amongst others). The ongoing expansion of convenience store chains such as 99 Speedmart, CU and Family Mart will help existing brands to reach out to more consumers, especially as younger generations display a preference for shopping in such outlets.
Players are predicted to organise frequent marketing campaigns to attract consumers’ attention over the forecast period
Despite most of the players reducing their commitment to advertising and promotional activity after the pandemic, many companies are anticipated to organise more social media campaigns (including contests and advertisements), in-store promotions and sampling over the forecast period. For instance, players are likely to introduce more cooking recipes, in-store sampling give aways and event participation such as at food and beverage expositions, to raise awareness of their brands and educate consumers about the potential uses and benefits of their products.
New sauces, dips and condiments products likely to be introduced to excite consumers over the forecast period
With the ongoing fashion for all things Korean, the forecast period is likely to see a growing range of Korean sauces such as gochujang (chilli sauces) for marinades, stews and stir-fries, and ssamjang (dipping sauce) become available in the Malaysian market. These products only require consumers to add fresh ingredients to the Korean sauces when preparing meals.
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Overview:
Understand the latest market trends and future growth opportunities for the Sauces, Dips and Condiments industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Sauces, Dips and Condiments industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Sauces, Dips and Condiments in Malaysia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Sauces, Dips and Condiments in Malaysia?
- Which are the leading brands in Sauces, Dips and Condiments in Malaysia?
- How are products distributed in Sauces, Dips and Condiments in Malaysia?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Sauces, Dips and Condiments?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Malaysia?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Sauces, Dips and Condiments in Malaysia - Category analysis
KEY DATA FINDINGS
Consumers cook at home to save money in 2024
Players enlarge foothold through channel expansion and affordability in 2024
Consumers are increasingly looking for convenient ways to cook meals at home in 2024
The stability of the raw material supply is likely to encourage players to boost volume sales over the forecast period
Players are predicted to organise frequent marketing campaigns to attract consumers’ attention over the forecast period
New sauces, dips and condiments products likely to be introduced to excite consumers over the forecast period
Cooking Ingredients and Meals in Malaysia - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Sauces, Dips and Condiments
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
Sauces, Dips and Condiments
This is the aggregation of cooking ingredients and condiments, dips, pickled products, sauces, yeast-based spreads, and other sauces, dips and condiments. Excludes: Unpackaged/bulk sauces, dressings and condiments, such as unpackaged herbs and spice or instances where consumers bring an empty contained to be (re)filled. Excludes: Table salt, vinegar, baking ingredients, desiccated coconut, and cooking cream/milk/powder for cooking and baking.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Sauces, Dips and Condiments research and analysis database.
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