Report Overview

Malaysia Meat Market- Industry Trends & Forecast Report 2027

The Malaysia meat market was worth USD 2.14 billion in 2020 and is further projected to reach USD 2.83 billion by the year 2027, growing at the CAGR of 4.1% during the forecast period. Increased per capita income and a shift towards meat consumption over staples and grain foods are propelling Malaysia's meat market forward. Also, the availability of a wide range of meat products, such as poultry, beef, and veal, pork, sheep, etc., along with expanding meat export and import activities, are anticipated to drive the Malaysia meat market during the forecast period.

Source: BlueWeave Consulting

Malaysia Meat Market- Overview

‘Meat’, in general, refers to animal flesh that is meant for human consumption as food. Meat is an important source of nutrients that offer proteins, zinc, iron, selenium, phosphorus, vitamin A and B-complex vitamins. There are many types of meat available in Malaysia, such as red meat, which includes beef, goat, and lamb. Additionally, Malaysia is also popular for poultry meat, which includes chicken, turkey, badgers, bats, beavers, civets, giant salamanders, etc. Among these, pork and beef are the most popular meat types consumed in Malaysia.

Malaysia Meat Market Forecast and Trends

Growth Drivers

Increasing Disposable Income and Purchasing Power

According to the reports by the World Bank, Malaysia's economy is anticipated to move from an upper-middle-class economy to a high-income economy by 2024. The country’s government is taking various initiatives and introducing reforms and adopting sustainability to boost Malaysia’s economic growth. As a result, the disposable income of Malay consumers is projected to rise during the forecast period, which will eventually boost their spending on food. The increasing purchasing power of people is projected to fuel the demand for meat and meat products in Malaysia during the forecast period.

Flourishing Tourism Sector of Malaysia

Malaysia is one of the world's most popular tourist destinations, ranking 9th in terms of tourists' arrivals in the world. The government has taken various measures to boost tourism in the country, making it the third-largest source of foreign exchange. The growing number of tourists in the country has increased the demand for meat and meat products through on-trade channels such as hotels, restaurants, and hotels. One of the most popular tourist attractions is the local Malay cuisine, which is increasing the demand for meat across the country.

Restraints

Negative Impact of Malaysia’s Meat Industry on Environment

The increasing environmental consciousness and awareness towards the negative influence of the meat industry on the environment may act as a major restraint for the Malaysia meat market growth. The production and consumption of meat contribute significantly to environmental impacts such as greenhouse gas emissions (GHG). Additionally, meat production contributes to environmental pollution through the consumption of fossil fuels, effluents, water and land consumption. As a result, consumers are shifting towards vegan meat products which are much more sustainable.

Impact of COVID-19 on Malaysia Meat Market

The COVID-19 outbreak negatively impacted the growth of the Malaysia meat market. Malaysian authorities imposed a nationwide lockdown to curtail the spread of the virus and the increasing number of Coronavirus cases in the country. During the pandemic, all services except those that are essential were closed under the movement control order (MCO). Additionally, supermarkets' and hypermarkets' operating hours were also reduced. Furthermore, as a result of the lockdown, people's income was directly affected, which reduced their purchasing power. All of these factors contributed to a sharp decline in demand for meat products in Malaysia, affecting the overall market.

Malaysia Meat Market - By Type

Based on types, the Malaysia meat market is segmented into red meat, poultry, and seafood. Among these segments, the poultry segment that consists of chicken, turkey, badgers, bats, beavers, civets, giant salamanders, etc., dominates the Malaysia meat market as this meat type is popular among urban and rural populations alike. There is a huge demand for chicken in Malaysia and the increasing demand for this sub-segment is associated with the increasing income levels of consumers. Chicken is also considered healthier compared to other meat types as it is a rich source of proteins and essential vitamins, as well as low in fat and cholesterol, which is driving its market growth.

Malaysia Meat Market - By Product Type

Based on product types, the Malaysia meat market is segmented into fresh, chilled, and frozen. The fresh meat type holds the largest market share owing to the high nutritional value it holds compared to other product types. However, the frozen product type segment 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.

Malaysia Meat Market - By Distribution Channel

Based on the distribution channels, the Malaysia meat market is segmented into on-trade and off-trade. The off-trade segment is further classified into supermarkets/hypermarkets, specialty stores, online stores, and others. The supermarket/hypermarkets segment accounts for the largest market share. There are around 334 hypermarkets and over 40 supermarket chains in Malaysia which is increasing the consumer’s 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 and cuisines in restaurants, food chains, hotels, and street-food vendors.

Competitive Landscape

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, and other prominent players.

The Malaysia meat market is highly fragmented due to the presence of several industry players and an increasing number of meat importers and exporters across the country. The industry participants offer a wide range of meat products to meet consumers’ needs and increase their market penetration for boosting sales. Additionally, they also focus on improving their distribution channel. Last but not least, the adoption of market strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Recent Development

• In June 2021, the Malaysian government sanctioned approval to Fauji Meat Limited, a Pakistani meat exporter to boost meat imports and its allied products to Malaysia.

Scope of the Report

By Type

• Red Meat

1. Beef
2. Goat
3. Lamb
4. Pork
5. Others

• Poultry

1. Chicken
2. Turkey

• Seafood

1. Fish
2. Crab
3. Lobster
4. Others

By Product Type

• Fresh
• Chilled
• Frozen

By Distribution Channel

• On-Trade
• Off-Trade

1. Supermarkets/Hypermarkets
2. Speciality Stores
3. Online Stores
4. Others

1.  Research Framework
   1. Research Objective
   2. Product Overview
   3. Key Market Segments
2. Research Methodology
   1. Qualitative Research
   2. Methodology
   3. Regional Split of Primary & Secondary Research
   4. Secondary Research
   5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
   6. Market Size Estimation
   7. Assumptions for the Study
   8. Market Breakdown & Data Triangulation
3. Executive Summary
4. Industry Insight and Growth Strategy
   1. Value Chain Analysis
   2. DROC Analysis
      1. Market Drivers
         1. Increasing Disposable Income And Purchasing Power
         2. Flourishing Tourism Sector Of Malaysia
      2. Market Restraints
         1. Negative Impact of The Meat Industry on Environment
      3. Market Challenges
         1. Negative Impact of the COVID-19 Pandemic
      4. Market Opportunity
         1. Increasing Demand for Packaged Meat Products
         2. Expanding Meat Import and Export Activities
   3. Recent Developments
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
5. Malaysia Meat Market Overview
   1. Market Size & Forecast by Value, 2017-2027
   2. Market Size and Forecast, By Segment
      1. By Type
         1. Red Meat
            1. Beef
            2. Goat
            3. Lamb
            4. Pork
            5. Others
         2. Poultry
            1. Chicken
            2. Turkey
         3. Seafood
            1. Fish
            2. Crab
            3. Lobster
            4. Others
      2. By Product Type
         1. Fresh
         2. Chilled
         3. Frozen
      3. By Distribution Channel
         1. On-Trade
         2. Off-Trade
            1. Supermarkets/Hypermarkets
            2. Speciality Stores
            3. Online Stores
            4. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis (2020)
   3. Competitive Benchmarking by Operating Parameters
7. Impact of COVID-19 on Malaysia Meat Market
8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. Darabif Meat Company
   2. Meat Factory Malaysia
   3. The Food Company
   4. Kharisma Vision
   5. Borneo Seafoods
   6. Felsers Rodl
   7. KNA Resources
   8. Yi Kim International Trading Sdn Bhd
   9. Falak Group
   10. Vasano Holdings Sdn Bhd
   11. Mutiara Food Processing Sdn Bhd
   12. Other Prominent Players
9. Key Strategic Recommendations

List of Figures

Figure 1: Malaysia Meat Market Segmentation

Figure 2: Malaysia Meat Market Value Chain Analysis,

Figure 3: Company Market Share Analysis, 2020

Figure 4: Malaysia Meat Market Size, By Value (USD Billion), 2017-2027

Figure 5: Malaysia Meat Market Share (%), By Type, By Value, 2017-2027

Figure 6: Malaysia Meat Market Share (%), By Product Type, By Value, 2017-2027

Figure 7: Malaysia Meat Market Share (%), By Distribution Channel, By Value, 2017-2027

List of Tables

Table 1: Malaysia Meat Market Size, By Type, By Value, 2017-2027

Table 2: Malaysia Meat Market Size, By Product Type, By Value (USD Billion), 2017-2027

Table 3: Malaysia Meat Market Size, By Distribution Channel, By Value (USD Billion), 2017-2027

Table 4: Darabif Meat Company Financial Analysis

Table 5: Darabif Meat Company Business Overview

Table 6: Meat Factory Malaysia Financial Analysis

Table 7: Meat Factory Malaysia Business Overview

Table 8: The Food Company Financial Analysis

Table 9: The Food Company Business Overview

Table 10: Kharisma Vision Financial Analysis

Table 11: Kharisma Vision Business Overview

Table 12: Borneo Seafoods Financial Analysis

Table 13: Borneo Seafoods Business Overview

Table 14: Felsers Rodl Financial Analysis

Table 15: Felsers Rodl Business Overview

Table 16: KNA Resources Financial Analysis

Table 17: KNA Resources Business Overview

Table 18: Yi Kim International Trading Sdn Bhd Financial Analysis

Table 19: Yi Kim International Trading Sdn Bhd Business Overview

Table 20: Falak Group Financial Analysis

Table 21: Falak Group Business Overview

Table 22: Vasano Holdings Sdn Bhd Financial Analysis

Table 23: Vasano Holdings Sdn Bhd Business Overview

Table 24: Mutiara Food Processing Sdn Bhd Financial Analysis

Table 25: Mutiara Food Processing Sdn Bhd Business Overview