Cooking ingredients and meals is set to see retail sales grow in both volume and value terms in Malaysia in 2024. Retail volume sales of edible oils are expected to improve as the rise in the price of raw materials for products such as palm oil has stabilised in 2024, which has encouraged consumers to purchase these products.
Cooking ingredients and meals has seen product innovation spur growth in areas such as frozen ready meals in 2024. For example, CJ Foods targeted the growing consumer interest in Korean culture, and Korean food in particular, which has been particularly prominent amongst younger consumers, with the introduction of bibigo halal Korean mandu and hoppang (dumpling and steamed bun) in March 2024.
Players have tried to maintain a foothold or gain a competitive edge across cooking ingredients and meals categories through investments in new product development and marketing campaigns in 2024. Companies have introduced products to provide greater convenience for consumers, enabling them to prepare dishes quickly with simple steps when they cook at home.
The supermarkets channel is growing slightly more strongly than hypermarkets due in part to the ongoing expansion of the store network by players such as Village Grocer (Hartamas Shopping Centre and Sierra Fresco). In addition, convenience stores and small local grocers have enjoyed growth, especially for edible oils and sauces, dips and condiments, as these channels offer affordable brands, such as Buruh, Saji, Jalen, and Maggi, and the outlets are located near to consumers, which is becoming increasingly important in the midst of ever more hectic lifestyles.
The stability of raw material prices such as the fruit from oil palm trees, fresh chilli, tomatoes, herbs, and spices as well as a stable supply of labour, will lead to less dramatic increases in unit selling prices for vegetables and seed oil, and sauces, dips and condiments during the forecast period. Remaining budget conscious, consumers are likely to be reluctant to spend on visiting foodservice outlets and look to cook more frequently at home.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals 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 Cooking Ingredients and Meals 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.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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