Malaysia Meat Market 2023 : Key Product Segments, Application Analysis, and Industry Growth Forecast by 2031 - Hometown Pages

A new research study called "Malaysia Meat Market" for the year 2023 has been conducted in the United States (New York). This study covers various aspects of the industry, including its size, market share, growth analysis, segmentation, leading manufacturers, and innovations. It also looks at key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The main purpose of this market research study is to thoroughly examine the industry and provide businesses with comprehensive insights into its economic potential. By using accurate statistical research data from Report Ocean's report for the years 2023 to 2031, your business can experience accelerated growth. The report also includes PESTLE & SWOT analysis, Porter's Five Forces Analysis, and crucial information on expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a detailed table of contents, 180+ figures, tables, charts, and insightful analysis.

The main companies involved in this industry 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, and Mutiara Food Processing Sdn Bhd.

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According to a recent study by Report Ocean, the meat industry in Malaysia was valued at USD 2.14 billion in 2020. The research suggests that the market is projected to experience a compound annual growth rate (CAGR) of 4.1%, resulting in estimated earnings of approximately USD 2.83 billion by 2027.

The rise in home-cooked meals is believed to be a major factor pushing the demand for meat among Malaysian consumers. Additionally, the shift in consumer preferences towards clean, safe, and nourishing meat sourced from animals raised and processed in a calm environment is expected to create profitable growth prospects for the meat market in Malaysia in the coming years. Nonetheless, the growing awareness of environmental issues and the increasing popularity of plant-based meat alternatives are projected to hinder the market's expansion.

The Malaysian meat market is experiencing a surge in popularity due to the growing preference for packaged meat products. The demand for such products has been steadily rising, propelling the market to new heights.

Pre-packaged meat goods are becoming increasingly favored by Malaysians, particularly those living in busy urban areas. This surge in popularity can be attributed to several factors, one of which is the clear labeling of halal and non-halal items. Malaysia predominantly follows Islam as its main religion, with approximately 61.3% of the population adhering to this faith. Within Islam, strict dietary rules prohibit the consumption of non-halal food. As a result, consumers are gravitating towards packaged meat products that possess halal certification, ultimately contributing to the positive growth of the market as a whole.

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The rising involvements in importing and exporting are driving the growth of the meat industry in Malaysia.

Due to the rising need for meat production in Malaysia, the government is placing emphasis on enlarging the import and export activities within the country. Malaysia stands as Australia's second most significant market for mutton exports and a substantial provider of live goats. As goats and sheep possess a high protein content, they are frequently consumed in Malaysia. Moreover, the diverse cultural makeup of Malaysia contributes to the desire for various meat options, which in turn affects imports and exports, thus fueling the growth of the meat market in Malaysia.

Malaysia's Meat Market – Analyzing the Various Channels of Distribution

The meat market in Malaysia is divided into two main sections based on how the products are distributed: on-trade and off-trade. The off-trade section is then further broken down into different categories, including supermarkets/hypermarkets, specialty stores, online stores, and others. Among these, the supermarket/hypermarkets category had the largest portion of the market in 2020. Malaysia is home to about 334 hypermarkets and over 40 supermarket chains, which makes it easier for consumers to find a wide variety of meat products. However, the on-trade section of the market also plays a significant role, thanks to the growing demand for meat products in restaurants, hotels, and street-food vendors.

The Influence of COVID-19 on the Malaysian Meat Industry

The expansion of the meat market in Malaysia came to a halt because of the unexpected occurrence of the COVID-19 pandemic. With the government implementing strict measures to control the spread of the virus, supermarkets, hypermarkets, and wet markets were either closed or had limited operating hours. Consequently, this made it difficult for consumers to access meat products. Additionally, import and export activities were also limited in order to prevent more negative outcomes. As a result, the availability of meat products was disrupted, leading to significant financial losses for those involved in the market.

Categorized by category (beef, chicken, fish)

According to the category of product (Fresh, Chilled, Frozen)

Through different means of distribution (such as selling directly to consumers or through retailers)

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The meat market in Malaysia is divided into many parts because there are many different companies involved, as well as more and more people importing and exporting meat. The industry has many different products available to meet what consumers want and to try to sell more. They are also putting effort into making it easier to get their products to consumers. Moreover, companies in this market often work together or combine in different ways to try to be more successful.

Porter's analysis of the five forces demonstrates the strength of both the purchasers and providers.

The potential for new competitors to enter the market and pose a challenge.

Suppliers' Ability to Negotiate: When it comes to bargaining power, suppliers play a significant role in determining the terms and conditions in a business transaction. Their negotiation skills and influence on the market can greatly impact the final outcome.

Buyer's Leverage:

The possibility of alternative products or services causing a potential threat.

Degree of competition in the market: The level of competition among companies operating in a particular market is known as the intensity of competitive rivalry. This refers to how fiercely businesses compete in terms of pricing, product features, marketing strategies, and customer loyalty. A high intensity of competitive rivalry indicates a cutthroat environment where companies are constantly trying to outdo each other and gain a larger market share. Conversely, a low intensity of competitive rivalry suggests a more relaxed competition, with companies focused on their own growth rather than aggressively targeting their rivals. Understanding the intensity of competitive rivalry is crucial for businesses to develop effective strategies and thrive in their respective markets.

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