New Food research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/11/2013 -- We believe that a mixture of declining global grain prices, subdued money supply growth and benign wage price pressure will combine to keep Malaysian consumer price inflation in check as we head into 2014. Malaysia's improving labour market dynamics not only bodes well for economic growth and private spending, but also is likely to help to keep labour costs stable, thus promoting investment.
Headline Industry Data (local currency)
- 2013 per capita food consumption value sales growth = +1.24% year-on-year (y-o-y); compound annual growth rate (CAGR) forecast to 2017 = +1.40%
- 2013 soft drinks value sales growth= +3.43% y-o-y; CAGR forecast to 2017 = +3.58%
- 2013 alcoholic drinks value sales growth = +3.96% y-o-y; CAGR forecast to 2017 = +4.92%
- 2013 mass grocery retail sales growth = +7.77% y-o-y; CAGR forecast to 2017 = +8.03%
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Key Industry Trends
Hershey To Invest In Malaysian Production Facility: In a development indicative of Malaysia's potential as a manufacturing base for the region, US-based chocolate company The Hershey Company plans to open its first confectionery manufacturing plant in Johor, Malaysia. The MYR816mn (US$250mn) facility will incorporate innovations in automated confectionery manufacturing technology and high-speed wrapping equipment featuring proprietary, as well as specially engineered, wrapping technologies. The new plant is expected to address rising consumer demand for the company's products in Asia.
Asahi Brand Makes Significant Inroads In Malaysia: In August 2013, Asahi Breweries' Asahi Super Dry beer became the fastest growing premium beer in Malaysia, according to Juliet Yap, the marketing director of Carlsberg Malaysia, which brews and distributes Asahi's beer in Malaysia. According to Asahi Group Public Relations Manager Takayuki Tanaka, sales of the beer increased tenfold between 2010 and 2011, with sales increasing 14-15% in 2012. The strong growth can be attributed to its popularity with the 25-34 age group, Yap said.
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