Small cooking appliances experienced some of the highest growth rates within the market in 2020, driven by the home seclusion trend during the initial lockdown (MCO) as a result of the pandemic. Greater time spent in the kitchen preparing and cooking food from scratch boosted demand for a number of small cooking appliances including light fryers, slow cookers and freestanding hobs.
Rice cookers and the more niche breadmakers also experienced an upturn in demand in 2020 compared to the previous year. Rice is a staple food for local households with the initial phase of the MCO seeing a notable increase in rice consumption as consumers were forced to remain at home.
Small cooking appliances in Malaysia is a more fragmented competitive landscape with only leading players, the multinational Panasonic and the local Pensonic, holding double-digit volume share. The highest combined share continued to be held by smaller companies under “others” due to the vast range of appliances offered by this category.
Ongoing price sensitivity (due to job losses and pay cuts resulting in falling disposable incomes) and a home-cooking culture are likely to support further demand for small cooking appliances in Malaysia over the forecast period, particularly if consumers remain cautious about visiting foodservice outlets with the virus still in circulation, or simply to save money by eating at home.
Health and wellness trends which were emerging pre-pandemic in Malaysia are set to drive demand for small cooking appliances such as light fryers, which is set to continue to record the strongest performance in volume terms over the forecast period, further compounding the declining trend already experienced by deep fat fryers. Slow cookers and rice cookers will also continue to perform well due to health trends, while freestanding hobs is predicted to record stronger volume growth compared to the review period, due to its greater affordability compared to built-in hobs within large cooking appliances, continuing to offer competition to the latter.
While Malaysians will generally remain price-conscious and continue to search for the most affordable price ranges wherever possible, the higher value growth (at constant 2020 prices) compared to volume growth predicted for the forecast period would suggest that an increasing number of consumers will be willing to invest in upgrading to premium products with greater multi-functionality if they are deemed to offer time-saving solutions to preparing meals at home. Nevertheless, the nascent distribution channel of e-commerce could assist consumers in their search for more competitive deals, with the latter gaining volume share in 2020 in a continuation of a trend already emerging pre-pandemic.
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Understand the latest market trends and future growth opportunities for the Small Cooking 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 Small Cooking Appliances research and analysis database.
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