PROSPECTS AND OPPORTUNITIES
Consumers are likely to trade down to less expensive brands over the forecast period
Malaysian consumers are likely to switch to less expensive alternatives to honey, chocolate spreads and nut and seed based spreads over the forecast period, as consumers have limited budgets to spend on non-essential items, while they are also leading increasingly hectic lifestyles and are, therefore, predicted to dine out much of the time, especially for breakfast, when they have very limited time to prepare food at home. Within sweet spreads, consumers are anticipated to choose less expensive, less popular brands such as CED from SCC Marketing (M) Sdn Bhd (honey, jams and preserves, and nut and seed based spreads) and Crispy from Network Foods Industries Sdn Bhd (chocolate spreads) as these brands offer lower prices than leading brands, such as Capilano, St Dalfour and Skippy.
Shrinkflation is likely to be adopted by players over the forecast period
Unit prices continue to rise at the beginning of the forecast period due to a scarcity of raw honey, cocoa and nuts, which is likely to cause players to implement a shrinkflation strategy over the forecast period. Players are predicted to downsize to smaller pack sizes and retain the retail selling price, such as 350g reduced to 330g in glass jars for chocolate spreads.
Nut and seed based spreads is anticipated to see retail value decline over the forecast period
Within nut based and seed based spreads, Unilever (M) Holdings Sdn Bhd is anticipated to see more limited shelf space due to competition from the leading player in the subcategory, Hormel Foods Corp, in modern trade outlets such as hypermarkets and supermarkets. Facing the increasing strength of Hormel, Unilever (M) Holdings Sdn Bhd is likely to focus on traditional grocery retailers, such as small local grocers.
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Overview:
Understand the latest market trends and future growth opportunities for the Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads in Malaysia?
- Which are the leading brands in Sweet Spreads in Malaysia?
- How are products distributed in Sweet Spreads 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 Sweet Spreads?
- 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?
Sweet Spreads in Malaysia - Category analysis
KEY DATA FINDINGS
Retail volume growth decelerates as consumers spend less on sweet spreads in 2024
Consumers switch to affordable options and spend cautiously in 2024
Private label underperforms in retail channels in 2024
Consumers are likely to trade down to less expensive brands over the forecast period
Shrinkflation is likely to be adopted by players over the forecast period
Nut and seed based spreads is anticipated to see retail value decline 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
Sweet Spreads
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Sweet Spreads research and analysis database.
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