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.
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.
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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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.
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 definitionsThis report originates from Passport, our Sweet Spreads research and analysis database.
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