The frozen food industry in Malaysia has been witnessing a surging demand in the recent past as an effect of rapid urbanization in the country and growing levels of disposable income among the consumers. The frozen food industry growth and the rise of frozen food companies in Malaysia are also driven by the proximity of Malaysia to prime Asia-Pacific markets such as Australia, Japan, China, and Korean Peninsula. According to the Malaysian Frozen Foods Processors Association (MFFPA), the Malaysia frozen food industry and the list of frozen food companies in Malaysia are also benefiting from the fact that their neighboring countries have been found to be supplying antibiotic laded frozen foods, especially seafood which is driving the frozen food industry growth in the country. Also, the frozen food demand in Malaysia is also thriving as the country is witnessing stable economic growth and consumers are willing to spend higher on food nowadays.
The best-frozen food companies in Malaysia are adopting a high level of technology to process and preserve the food to export to international markets in the Asia Pacific and some parts of Europe where there is high demand for products from the frozen food industry in Malaysia. Frozen food manufacturers in Malaysia trade various essential food commodities such as frozen meat, seafood, vegetables, and fresh fruits. A part of the frozen food demand in Malaysia is generated from the national military as they rely heavily on frozen food in remote locations across the country. The frozen food industry growth in Malaysia is likely to get boosted by the entry of various new frozen food manufacturers in Malaysia as they are implementing aggressive campaigns on TV and other forms of media which have turned the frozen food industry in Malaysia highly competitive and a huge potential for growth in the next five years.
The frozen food industry in Malaysia is forecasted to expand at a CAGR of more than 7% for the next five years to reach a market size of over $800 million by the end of 2023. The highest revenue-generating segment for frozen food manufacturers in Malaysia is the frozen seafood sector as the country has an extensive coastline which augments the production and processing of various types of seafood to be exported to several parts of the world. Also, as revealed by a journal of the Malaysian Frozen Foods Processors Association, the frozen food demand in Malaysia is further bolstered from neighboring countries such as Singapore, Hong Kong, China, and Japan. The frozen food companies in Malaysia export around 50,000 tons of black tiger prawns annually and the leading frozen food manufacturers in Malaysia are exploring new opportunities to increase their capacity for production to cater to the growing demand for Malaysia frozen food industry from all over the world.
The frozen food industry growth in Malaysia is also driven by increasing number of initiatives taken by the Government to promote frozen food exports by encouraging FDI for a list of frozen food companies in Malaysia. As a matter of fact, Malaysia has the fifth largest rate of FDI in Asia-Pacific and this also likely to influence the frozen food industry growth for the coming few years. Malaysia is a growing economy, with an expanding setup of infrastructure and abundance of bio-diversity coupled with robust policies for investment and this factor is also likely to shape the growth of the frozen food industry in Malaysia. Furthermore, the relaxation of import allowance on frozen food items like chilled beef and frozen meat in Australia has also augmented the export revenues of the leading frozen food manufacturers in Malaysia.
|Hsh Frozen Foods Sdn Bhd||Batu Caves, Selangor, Malaysia|
|Zheng Food (Malaysia) Sdn Bhd||Kajang, Selangor, Malaysia|
|PA Food Sdn Bhd||Semenyih, Selangor, Malaysia|
|Figo Food Sdn Bhd||Seri Kembangan, Selangor, Malaysia|
|Lucky Frozen Sdn Bhd||Kuala Lumpur, Malaysia|
|Lee’s Frozen Food Sdn Bhd||Wilayah Persekutuan, Malaysia|
|Harvest Frozen Food Sdn Bhd||Johor Bahru, Johor, Malaysia|
|Wanzaleha Halal Frozen Food||Johor Bahru, Johor, Malaysia|
|Jutapintar Food Sdn. Bhd||Serdang, Selangor, Malaysia|
|San San Frozen Food Marketing||Skudai, Johor, Malaysia|
The global frozen food industry was valued at around $280 billion at the start of 2018 and is projected to grow at a CAGR of over 4% for the next five years to cross a market size of $325 billion by the end of 2023. The frozen food industry growth is driven by growing preference for ready to cook food products due to changes in lifestyle because of urbanization across the globe. Also, the increasing population of employed women coupled growing availability of freezing medium is likely to impact the growth of frozen food companies favorably across the world. The rising popularity of fast food and western culture in emerging economies of the Asia Pacific region such as Malaysia, India, China, and Thailand are also influencing the frozen food industry growth in a significant way. The segment for fresh fruits and vegetables is steadily gaining a steadfast momentum as there is growing awareness about healthy eating habits among the consumers than never and holds almost a 15% share of the global frozen food industry.
The frozen snacks and bakery segment is also likely to grow massively in the next few years, especially in the Asia Pacific region due to improved distribution networks and entry of foreign players in the market. The frozen food industry growth in developed regions like Europe and North America will be majorly driven by high demand from the foodservice industry. Although, the retail frozen food sector is also gaining popularity in these regions owing to the increased purchasing power of the consumer base. The Asia Pacific region and LAMEA together are forecasted to hold almost 36% market share of the global frozen food industry by the end of 2023 while Europe and North America will continue to be dominant markets for frozen food manufacturers across the globe with shares of 38% and 26% respectively.
The frozen food industry in Malaysia is a rapidly growing market in the Asia Pacific and as the country has a developed industrial sector coupled with a skilled workforce, the frozen food companies in Malaysia are poised to register a steady growth in the next five years. The growth of the frozen food manufacturers in Malaysia is also driven by high demand for frozen food products such as organic soups, organic fries, high fiber breakfast cereals, protein bars, and processed vegetables and fruits from various countries across the globe. Moreover, the frozen food industry growth will also be heavily dependent on the demand from international markets and food production patterns within the country. Malaysian Frozen Foods Processors Associated has stated in a report that Government of Malaysia has offered various tax exemptions for a list of frozen food companies in Malaysia for a period of ten years to promote the growth of the Malaysia frozen food industry.
The frozen food demand in Malaysia is also expected to play a significant role in the growth of the frozen food industry in Malaysia as the country is witnessing a period of economic consolidation and the population is also rising at a fast rate for the past few years. Many supermarts and hypermarkets in the country stock and sell frozen food products and the leading frozen food manufacturers in Malaysia are adopting new techniques to lengthen the shelf life of these products to cater to the stringent international market benchmarks. The evolving preferences and tastes of the consumers in the region is also generating a substantial demand for frozen food companies in Malaysia and many products are gaining popularity through effective advertising campaigns across the country. The frozen food industry in Malaysia is likely to thrive in the coming future as new and larger international players are going to enter the market in the next few years.
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