Food preparation appliances continued to experience solid demand in 2020, in a continuation of a trend already noted in Malaysia pre-pandemic. Local consumers have increasingly shown an interest in cooking and baking at home due to greater exposure to television programmes and social media platforms which feature food.
Rising health and wellness trends pre-pandemic, particularly amongst millennials who were increasingly investing in products that they perceived to enrich their lives due to rising disposable incomes, helped to drive demand for slow juicers. This trend was encouraged by visits to juice bars and cold-pressed juices in restaurants and cafés, with 2019 witnessing ongoing strong volume and current value growth.
Food preparation appliances remained a fairly consolidated competitive landscape in 2020, led by Panasonic Malaysia Sdn Bhd, Philips Malaysia Sdn Bhd and local player Pensonic Holdings Bhd, all holding double-digit volume share and strengthening their positions with solid performances. Panasonic retained its overall leadership of food preparation appliances due to its strong presence across all the category but is particularly notable in blenders and food processors.
As restrictions started to be lifted from June 2020 as part of the country’s recovery movement control order (RMCO), some consumers ventured out to foodservice, although many remained cautious either opting for takeaway/food delivery services or continuing to cook for themselves at home due to concerns about coming into contact with the virus. This behaviour is likely to continue to filter into 2021, as home cooking was already a strong trend within Malaysia prior to the pandemic, and is therefore set to support solid demand for food preparation appliances over the forecast period.
As busy working adults return to their routines and some level of normalisation as the threat of the virus gradually weakens, they are likely to search for multifunctional appliances that not only offer greater value for money but also save them time in preparing and cooking meals. Such consumers often prefer to prepare food in a pot to cook so that it is ready to serve by the time they reach home after work.
As the threat level of the virus wanes and consumers gradually return to their normal lives, the festive season offers further opportunities for growth. There is a strong culture of home visiting in Malaysia amongst family and friends, with hosts preparing elaborate meals and snacks for their guests.
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Understand the latest market trends and future growth opportunities for the Food Preparation Appliances industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Food Preparation Appliances research and analysis database.
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