Whilst still showing the strongest value growth of the two, packaged bread, cakes and pastries continue to face competition with unpackaged baked goods from artisanal bakery shops. These shops are small and conveniently located near housing estates, as compared to larger and more central supermarkets and hypermarkets.
The demand for dessert mixes and frozen baked goods is seeing slowing growth, as consumers are increasingly eating out and cooking less at home. This is a trend which is affecting many food categories in Malaysia.
Baked goods are expected to grow slowly in line with declining growth in population over the forecast period, as baked goods are considered to be basic commodities. Baked goods, particularly packaged bread and pastries, are treated as essential for breakfast in Malaysia, as they are close substitutes to breakfast cereals in terms of affordability.
Italian Baker Sdn Bhd launched Massimo Bunbino Tomyam Chicken Bun (packaged pastries) in April 2019 and Massimo Kurma and Milk Loaf (packaged leavened bread) in May 2019. The new product launches helped to sustain strong value growth within bread and pastries.
Domestic player Kawan Food Mfg Sdn Bhd performed well from 2018 to 2019, seeing the strongest current value growth. The company is engaging strongly with retailers to boost its distribution channels and introducing new products within frozen baked goods.
Domestic player Ben Fortune Pastry Mfg (M) Sdn Bhd experienced a drop in its share from 2018 to 2019. This is mainly due to its limited product range and intense competition from Kawan Food Mfg Sdn Bhd in the distribution channels.
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This industry report originates from Passport, our Packaged Food market research database.