Cooking ingredients and table sauces are considered as essential items for many consumers in Malaysia as these products are consumed daily. Popular local dishes like curry and rendang make use of dry sauces, herbs and spices and cooking sauces, while many different cooking ingredients are added into meat dishes when consumers cook at home.
COVID-19 has put a huge strain on the household incomes of many families, while there is also prevailing job and wage insecurity with many businesses struggling to survive. As such, consumers became increasingly budget conscious during 2020.
With consumers rushing to stockpile key products one of the key competitive advantages for companies in 2020 has been the ability to key shelves stocked with their products. This has favoured domestic companies which do not suffer the same logistical challenges as imported products.
As foodservice outlets reopen, and employees return to the workplace, it is expected that growth will slow from 2021 onwards. Consumers are leading increasingly busy lives leaving less time for making home cooked dishes.
Prior to the outbreak of COVID-19, sauces, dressings and condiments had only a limited online presence, with consumers generally purchasing these products as part of their weekly shop at hypermarkets/supermarkets, or from local independent small grocers. However, in response to the Movement Control Order there was a significant shift online with e-commerce sales of sauces, dressings and condiments almost doubling in 2020 compared to the previous year.
COVID-19 has had a significant impact on the production of a wide range of products around the world and this is likely to influence the competitive landscape within sauces, dressings and condiments, at least in the early part of the forecast period. For example, yeast-based spreads are predominantly imported from the US, but with the focus being on supporting local demand this could result in a shortfall in products being shipped to Malaysia.
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Understand the latest market trends and future growth opportunities for the Sauces, Dressings and Condiments industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Sauces, Dressings and Condiments industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Sauces, Dressings and Condiments research and analysis database.
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