Malaysia Market
- Malaysia meat market worth RM9.35 billion (USD 2.14 billion) in 2020, projected to reach RM12.37 billion (USD 2.83 billion) by 2027, growing at the CAGR of 4.1% for the period.
- Malaysia meat market is segmented into fresh, chilled, and frozen. The fresh meat type holds the largest market share. The frozen product type is anticipated to witness the highest growth rate because of the high consciousness towards halal products. The frozen meat in supermarkets is categorized into halal and non-halal segments, which is boosting its demand for frozen meat in Malaysia.
- Based on the distribution channels, the supermarket/hypermarkets segment accounts for the largest market share for Malaysia’s meat market.
- The key players in the Malaysia meat market are: Darabif Meat Company, Meat Factory Malaysia, The Food Company, Kharisma Vision, Borneo Seafoods, Felsers Rodl, KNA Resources, Yi Kim International Trading Sdn Bhd, Falak Group, Vasano Holdings Sdn Bhd, Mutiara Food Processing Sdn Bhd.
Source: https://www.blueweaveconsulting.com/report/malaysia-meat-market
- The consumption of red meat, especially lamb, is witnessing a significant rise over the past few years in Malaysia. Malaysia imports the vast majority of its red meat, roughly 80% beef and 95% lamb ( according to the South-East Asia regional manager of Meat and Livestock Australia (MLA), Valeska )
- Packaged meat products are gaining huge popularity among Malay consumers, especially in urban regions. A crucial factor boosting the sales of packaged meat products is its clear labelling of halal and non-halal products.
- The Malaysian government is focusing on expanding imports and exports of meat within the country. Malaysia is Australia’s second-largest mutton export market and a major supplier of live goats.
Source: https://www.marketresearch.com/BlueWeave-Consulting-v4239/Malaysia-Meat-Type-Red-Poultry-31140380/
- Locally-made meat and dairy alternatives will cater to our appetites. Malaysia’s plant-based meat has been growing, with local startups like Phuture, Etblisse OYA, and Snappea. Recently, Malaysian jackfruit plant-based meat brand Nanka raised an undisclosed funding amount from US-based Leet Capital. Phuture has also been collaborating with brands such as KyoChon, Grand Hyatt, and CU Malaysia all throughout the year.
Source: https://vulcanpost.com/812054/2023-business-trends-industry-predictions-malaysia/
- Recently Malaysia’s poultry industry is facing challenges from the impact of the pandemic, the Russia-Ukraine conflict and issues with chicken supply. The Malaysian government took several actions to assuage fears of poultry shortages : implementing a subsidy to stabilise the price of whole chicken and eggs, banning the export of all chicken products starting June 1, 2022, while simultaneously easing requirements for companies to be approved to import chicken products to Malaysia.
Source: https://www.thepoultrysite.com/news/2022/10/malaysia-extends-price-support-for-poultry-products
ASEAN Market
- Expected revenue in the Meat segment for 2023 : US$91.91 billion –
- Annual growth rate (CAGR 2023 – 2027) : 9.18%
- Expected volume amount : 17,253.4mkg
- Expected volume growth in 2023 : 6.6%
- Growth prediction of Southeast Asia’s poultry production : 3 – 4%
Source: statista.com, www.Asian-agribiz.com/
Top players of the Southeast Asia meat product industry
- Thai-German Meat Product Company Limited
- Charoen Pokphand Foods PCL.
- GFPT Public Company Limited.
- Bangi Argo Malaysia.
- Saha Farms Co. Ltd
- Centaco
- Angliss Singapore Pte Ltd.
- F & G Food Pte Ltd
- BETAGRO PUBLIC COMPANY LIMITED
- Chop Hup Chong Food Industries Pte Ltd.
