Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery & Snacks Market in Malaysia has seen moderate growth due to factors such as increasing consumer health awareness and convenience of online services. However, subdued growth in sub-markets like Chocolate and Sugar Confectionery may be influenced by changing consumer preferences and competition from healthier snack options. The market's growth rate is impacted by these factors, leading to a slow but steady increase in demand for preserved pastry goods, cakes, and ice cream.
Customer preferences: As Malaysians become more health-conscious, there has been a noticeable trend towards healthier options in the Confectionery & Snacks Market within The Food market. Consumers are gravitating towards natural and organic ingredients, as well as reduced sugar and calorie options. This shift is driven by a growing awareness of the impact of diet on overall well-being, as well as a desire for guilt-free indulgences. Additionally, with the rise of e-commerce and online shopping, there is a growing demand for convenient and hassle-free purchasing options for confectionery products.
Trends in the market: In Malaysia, the Confectionery & Snacks Market within The Food market is experiencing a surge in demand for healthier, organic snacks. This trend is driven by growing health consciousness among consumers, who are increasingly seeking out healthier options for snacks. Additionally, there is a rise in the popularity of artisanal and premium confectionery products, as consumers are willing to pay more for quality and unique flavors. These trends are expected to continue, with potential implications for industry stakeholders such as increased competition and the need for innovation to cater to changing consumer preferences.
Local special circumstances: In Malaysia, the Confectionery Market is heavily influenced by the country's diverse cultural and religious backgrounds. For example, the demand for halal-certified confectionery products is high due to the large Muslim population. Additionally, the country's tropical climate also plays a role in shaping the market, with a preference for products with a longer shelf life. The government's strict regulations on food safety and labeling also impact the market, ensuring product quality and consumer trust. These unique factors contribute to the dynamic landscape of the Confectionery Market in Malaysia, setting it apart from other markets in the region.
Underlying macroeconomic factors: The Confectionery Market within The Food market in Malaysia is heavily influenced by macroeconomic factors such as consumer spending power, consumer preferences, and government policies. The country's stable economic growth, increasing disposable income, and growing urbanization have resulted in a higher demand for indulgent and convenient food products like confectionery. The government's initiatives to promote domestic production and reduce import dependency have also positively impacted the market. Furthermore, the growing tourism industry and rising demand for premium and artisanal confectionery products from both domestic and international tourists have further boosted the market's growth.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
