Spreads experienced a price hike due to weakening currency as many brands are imported into Malaysia and sold at premium prices, discouraging consumers from spending more on spreads. Consumers may only purchase and use one unit of spreads each month as it is deemed a non-essential product.
Rigid plastic, namely PET jars, other plastic jars and thin wall plastic containers, will continue to record positive volume growth in spreads packaging, as players prefer these types as the ultimate packaging for spreads. Rigid plastic can be recycled and reused by consumers, with rigid plastic usually placed at affordable prices than other packaging such as glass and metal.
Price hikes for sugar and weak currency have forced manufacturers to face high production costs, eventually passing down the costs to end consumers. Therefore, manufacturers are focusing on seasonal price promotions instead of new packaging innovations as intense competition between international and domestic brands drive manufacturers to maintain pack type and size.
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Understand the latest market trends and future growth opportunities for the Spreads Packaging industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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