Malaysia: Consumer Profile

November 2024

High birth rates and immigration sustain Malaysia’s youthful demographic, with millennials and Gen Z driving digital and eco-conscious preferences. While a saving culture influences spending, an expanding middle class boosts demand for value-orientated goods. Rising single-person and urban households shape needs for compact, convenient products, while family households fuel demand for family-centric options. The consumer landscape is increasingly tech-integrated and quality-focused.

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Overview:

Consumer Profiles  reports  provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.


The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.

The Consumer Profiles in Malaysia report includes:

A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies

The Consumer Profiles in Malaysia report answers:

  • How consumers in  Malaysia are changing? 
  • What are key changes in Malaysia population, society and generational structure and how it is affecting businesses?
  •  What is the household structure in Malaysia and how it is changing consumer landscape?
  • What are key income groups in Malaysia? What is the outlook for the future?
  • Where consumers are  spending the money in Malaysia? 
  • How is the consumer mindset in Malaysia changing?
  • In Malaysia, what are consumer attitudes towards “green” and sustainable products?
  • Where and how do consumers shop in Malaysia?
Download Table of Contents
Scope
Key findings
Key drivers affecting consumers in Malaysia in 2023
How developments today shape the consumer of tomorrow
Today 2023: Millennials emerge as the largest generational group
Malaysia’s youthful population grows amid immigration and moderate birth rates
Rising obesity, high cholesterol, and focus on health among Malaysians
Tomorrow 2040: Ageing population and rising life expectancy
Generation Z poised to lead Malaysia’s consumer landscape by 2040
Urbanisation drives Kuala Lumpur's growth as Malaysia’s leading city
Opportunities for growth
Case study: Grab and PERKESO support social security for gig workers
Today 2023: Rising single-person households and shifting family structures
Shift towards smaller family sizes and growing single-person households
Evolving housing preferences favour smaller, well-located homes
Tomorrow 2040: Despite singletons’ growth, households with children will remain dominant
Ageing household heads drive demand for eldercare and community-based solutions
Digital adoption rises as Malaysians embrace connectivity and smart home technology
Opportunities for growth
Case study: UEM Sunrise fosters community-centric urban spaces
Today 2023: Stable growth as middle class represents a quarter of Malaysian households
Food and hospitality costs are the main driver of mild consumer price increases
Baby boomers lead in financial optimism and increased spending on health and wellness
Tomorrow 2040: Disposable income to double by 2040 with males seeing higher levels
Rising disposable income among younger adults to drive luxury consumption
Kuala Lumpur dominates consumer spending supported by rising digital engagement
Opportunities for growth
Case study: Paywatch – expanding earned wage access with Media Prima
Key findings of consumer surveys
Millennials lead in willingness to pay for health and quality in food and household essentials
Rising cost of living drives some consumers towards frugality and value-focused shopping
Consumers increasingly embrace environment- and community-conscious lifestyles
Malaysian consumers demonstrate financial prudence and resilience
High salaries and work-life balance top priorities for millennials, less so for baby boomers
Opportunities for growth
Case study: Naluri Life – Digital health for enhanced wellbeing
Key findings
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