- Malaysia packaging market size was 18.4 billion units in 2021. The market is projected to grow at a CAGR of more than 3% during the forecast period.
- The flexible packaging market was the largest consumed pack material while glass accounted for the least volume share.
- Among the leading industries are food and non-alcoholic beverages with a 60.3% and 26.6% market share respectively. Excellent food packaging has become vital for food manufacturers as it helps maintain and preserve the quality of the food for consumers.
- Packaging materials like flexibles and paper & board are seeing a surge in demand in the Malaysian food industry. Consumers are now looking out for foods in smaller portions with resealable options as there has been an increasing demand for ready-to-eat foods due to a change in lifestyle and habits. The rising awareness towards environmental impact has also driven the urban population towards eco-friendly and sustainable packaging solutions.
Food Packaging trends for 2023 in Malaysia:
Consumer Packaged Foods
These are inexpensive and readily available. Post-pandemic, consumers who have returned to the office or school full-time are looking for convenient food options that they can access in no time, and can easily heat up. The F&B industry has been tapping into this new demographic that appeals to current consumers. One way of providing value to consumers with this trend is to offer a variety of pre-made foods that are easy to prepare. They are made easily accessible, whether through deliveries or by supplying to convenience stores.
Packaging plays a major role in improving the F&B customer experience. Increasing awareness of the global climate situation is also propelling the trend of eco-friendly packaging. These containers are drawing more and more attention since they not only present the food in attractive packaging but also aid in lowering carbon footprints. Consumers want to associate with businesses that are environmentally friendly. The market for eco-friendly packaging is expanding along with the F&B sector – new packaging products are less harmful to the environment without compromising on quality. Using eco-friendly packaging will positively influence restaurants’ and cafés’ brand perception among consumers.
The Top Five Packaging Companies In Malaysia
- Altratec Sdn Bhd
- Toli Packaging
- PXL Packaging
- OOSH Eco Packaging
Southeast Asian Market
- Expected gross merchandise value (GMV) of Southeast Asia’s on-demand food delivery market by 2030 : US$49.7 billion
- Growing compound annual growth rate (CAGR) : 14.1%
- Estimated Gross Merchandise Value in 2021 : US$15.2 billion
*based on report by Frost & Sullivan.
- Southeast Asia food processing equipment market size value : US$993.90 million
- Growth for modern grocery retail through 2025, ASEAN is one of the fastest growing in the world : 6 to 7% (McKinsey & Co)
- Investment of region’s food-tech and ag-tech start-ups in first half of 2022 : US$5.3 billion
- Year-on-Year (YoY) : - 47%
*according to a report from AgFunder.
Source: Food ingredients first.com
Top Food Packaging Asia Pacific Players
- Sealed Air Corporation
- Berry Global Inc.
- Huhtamaki Group
- Amcor plc
- Crown Holdings Inc.