U.S (New York) – New research study titled “Malaysia Meat Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
key players 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]
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Report Ocean revealed that the Malaysia meat market was worth USD 2.14 billion in 2020. According to the study, the market is estimated to grow at a CAGR of 4.1%, earning revenue of around USD 2.83 billion by the end of 2027
Home cooking is also thought to be driving the trend, which is fueling Malaysian consumers’ appetite for meat. Moreover, the changing consumer preferences for hygienic, safe, and nutritious meat from animals, raised and processed in a stress-free environment, will also present lucrative growth opportunities in the Malaysian meat market in the forecast period. However, increasing environmental consciousness and a growing penetration of plant-based meat are anticipated to restrict the market growth.
Increasing Demand for Packaged Meat Products is Boosting the Malaysia Meat Market
Packaged meat products are gaining huge popularity among Malay consumers mainly because of their busy lifestyles, especially in urban regions. Another crucial factor boosting the sales of packaged meat products is its clear labeling of halal and non-halal products. Islam is the most professed religion in Malaysia with around 61.3% of the population following this religion. The religion strictly bans the consumption of non-halal food. Consequently, consumers are inclined towards packaged meat due to the halal certification of the products, which is favoring the overall market growth.
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Increasing Import and Export Activities Propelling the Malaysia Meat Market Forward
In light of the increasing demand for meat production in the country, 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. As a result of the high protein content, goats and sheep are often consumed in Malaysia. In addition, the multicultural nature of Malaysia contributes to the demand for different types of meat, which influences imports and exports, propelling the Malaysia meat market’s growth.
Malaysia Meat Market – By Distribution Channel
Based on distribution channels, the Malaysia meat market is segmented into on-trade and off-trade segments. The off-trade segment is further classified into supermarkets/hypermarkets, specialty stores, online stores, and others. The supermarket/hypermarkets segment accounted for the largest market share in 2020. There are around 334 hypermarkets and over 40 supermarket chains in Malaysia which is increasing the consumers accessibility to a wide range of meat products. However, the on-trade segment also covers a substantial share in the market because of the increasing demand for meat products in restaurants, hotels, and street-food vendors.
Impact of COVID-19 on Malaysia Meat Market
The growth of the Malaysia meat market came to a standstill due to the sudden outbreak of the COVID-19 pandemic. As the government-imposed strict lockdown to flatten the infection curve in the country, the distribution channels, such as supermarket/hypermarkets and wet markets, were either closed or operating at reduced times. Consequently, this restricted the consumers accessibility to meat products. Furthermore, the import and export activities were also restricted to prevent further casualties. As a result, the supply of meat products was hindered, incurring huge losses to the market players.
Market Segment:
By Type(Red Meat, Poultry, Seafood)
By Product Type(Fresh, Chilled, Frozen)
By Distribution Channel(On-Trade, Off-Trade)
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The Malaysia meat market is highly fragmented due to the presence of several industry players and an increasing number of meat importers and exporters. The industry offers a wide range of products to meet consumers’ needs and to increase their market penetration and sales. In addition, they focus on improving their distribution channels. Additionally, the adoption of market strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
Threat of New Entrants:
- If the threat of new entrants is high, it indicates that buyers have more options and can easily switch suppliers, increasing their bargaining power.
- Industry details: An industry with low entry barriers and minimal regulatory restrictions may attract new entrants, which can give buyers more choices and negotiating power.
Bargaining Power of Suppliers:
- If suppliers have strong bargaining power, they can dictate terms and prices, reducing buyer power.
- Industry details: Industries with few suppliers, unique resources or expertise, or limited alternative suppliers may give suppliers more power, affecting buyers’ ability to negotiate favorable terms.
Bargaining Power of Buyers:
- If buyers have strong bargaining power, they can demand lower prices, better quality, or additional services from suppliers.
- Industry details: Industries with many buyers, low switching costs, or readily available alternatives can enhance buyer power and their ability to negotiate favorable deals.
Threat of Substitute Products or Services:
- If there are many substitute products or services available, buyers can easily switch, giving them more power.
- Industry details: Industries with numerous substitutes or evolving technologies that provide alternative solutions can give buyers the upper hand in negotiations.
Intensity of Competitive Rivalry:
- High competition among existing industry players can give buyers more options and bargaining power.
- Industry details: Industries with many competitors, slow industry growth, or low differentiation between products/services may result in intense rivalry, benefiting buyers.
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