Boston, MA -- (ReleaseWire) -- 06/02/2014 -- Weak global economic conditions coupled with consumers' fear of the General Election in Malaysia during 2013 is seeing them fear for their jobs and in turn spending more time at work. This is driving them to increasingly demand convenience, including quick meal solutions. Frozen processed food is benefitting from this, with 3% current value growth in 2013, as it can be easily prepared using a microwave or via other cooking means.
Ayamas Food Corp Sdn Bhd managed to retain its value share and its lead in frozen processed food with a 19% value share in 2013. The player is able to sustain consumer interest due to its relationship with KFC as the former is the chicken supplier for KFC. Besides, Ayamas Food Corp also has a wide product range and established presence. Although Ayamas still managed to maintain its value share in frozen processed food, the growing popularity of frozen fish/seafood has posed a potential challenge to Ayamas Food Corp Sdn Bhd's performance since the player is mainly present in frozen/processed poultry.
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Over the forecast period, frozen processed food is expected to register a slower constant value performance versus the review period. This is due to the slowdown in categories such as frozen processed red meat in view of consumers' health consciousness. The latter will also see consumers increasingly picking up fresh food to prepare their own meals instead of relying on frozen processed food.
Discover the latest market trends and uncover sources of future market growth for the Frozen Processed Food industry in Malaysia with research from Euromonitor's team of in-country analysts.
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If you're in the Frozen Processed Food industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Frozen Processed Food in Malaysia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Frozen Processed Food in Malaysia?
- What are the major brands in Malaysia?
- As economic prospects improve, are consumers starting to move away from comparatively inexpensive canned food and back to frozen and chilled processed offerings?
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