LONDON, Dec. 18, 2017 /PRNewswire/ -- Top Growth Opportunities: Confectionery in Malaysia
SummaryDownload the full report: https://www.reportbuyer.com/product/5250992 Malaysia is one of the smallest confectionery markets globally in value terms; the market is expected to record a substantial growth at a CAGR of 6.7% during 2016-2021. This growth is stimulated by a magnitude of social and economic motivators, including rising household income and enhanced business environment. Despite being heavily dominated by natural resources and facing the global financial crisis, GDP is predicted to rise to 4.9% for 2017.
The US's recent decision to withdraw from the TPP agreement will likely lead to a deterioration in diplomatic relations between the US and Malaysia and threatens domestic exports. Less than 1% of Malaysia lives in extreme poverty; from 2009 to 2014 the real average income for those living in extreme poverty grew by 11.9% per year. Income growth and efforts to diversify the economy has ultimately helped boost consumer confidence, thus creating opportunities for producers.
Among the top ten countries, the per capita expenditure of Malaysia in the confectionery market is the lowest in US$ terms. The per capita expenditure on confectionery products in US$ terms declined at a CAGR of 4.7% in the last five years. However, it is expected to rebound and grow at a CAGR of 5.3% during 2016-2021.
A growing number of consumers, especially the young population with higher disposable income, and changing lifestyles due to influence of western culture are driving the demand for confectionery products in Malaysia. Moreover, consumers are looking for conveniently packed single-serve food options that can be consumed on-the-go.
The report "Top Growth Opportunities: Confectionery in Malaysia", provides recommended actions and detailed analysis of how to target the best growth opportunities for confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of confectionery food markets in Malaysia through our detailed and robust data, expert insight, and case studies.
In depth this report access to -
- Key consumer demographic groups driving consumption within the Malaysian market. Improve your consumer targeting by understanding who's driving the market, what they want, and why.
- A study of market value and volumes over 2011-2016 for Malaysia supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and regional product innovation targeting key consumer needs.
Companies mentioned in this report:Giant, Tesco, AEON, Cold Storage, 7-Eleven, KK Mart, Tesco Express, Jaya Grocer, Village Grocer, Sam Grocer, Mondelez, Mars, Nestle, Theo Dark, Tic Tac, Thai Jintan, Laco Choco, Hemelzs, Goody Good Stuff, Cadbury, Stork
- Malaysia's confectionery market is one of the smallest globally, albeit is worth an excess of US$279.9 million.
- Despite the country's dependency on natural resources and weakened political ties, Malaysia's confectionery market is expected to record high growth of 6.7% over the next five years.
- Confectionery consumption is centered around premiumization; spurred on by Western tastes and higher incomes, consumers desire well-travelled offerings which tend to symbolize wealth.
- Growth over the 2016-2021 will be mostly driven by the chocolate category; chocolate countlines reveal key opportunities, being the highest value sub-category, whilst boxed chocolate record the second highest value.
Reasons to buy- This report brings together consumer analysis and market data to provide actionable insight into the behavior of Malaysia's confectionery consumers.- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the confectionery sector.- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Download the full report: https://www.reportbuyer.com/product/5250992
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