Outlook Malaysian meat market poised for modest value till 2023
GlobalData’s report, ‘Country Profile: Meat in Malaysia’, reveals that fresh meat available in retail counters held the largest value share of 46.3% in 2018, followed by chilled raw packaged meat – whole cuts, which accounted for a value share of 16.9% in the same year.
The company predicts the frozen meat category to grow at the fastest value CAGR of 4.2% during 2018–2023, followed by cooked meat available at retail counters with a CAGR of 4.1%.
Ramly Food Processing Sdn. Bhd., Dindings Poultry and Hormel Foods Corporation were the leading market players in the Malaysian meat sector while Ramly, Ayam Dindings, and Hormel were the top brands in 2018. Although a well-developed distribution network of hypermarkets and supermarkets dominated meat sales in Malaysia, private label products, which are majorly sold through this distribution channel, had a low value penetration of 1.8% in 2018.