Market Forecast By Type (Beans, Peas, Corn and BaCorn, Broccoli and Cauliflower, Potato, Onion, Tomato, Carrot), By Application (Food, Beverage, Concentrate) And Competitive Landscape
Product Code: ETC222146 | Publication Date: Nov 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The Malaysia IQF vegetable market is expected to grow over the period. This growth can be attributed to increasing demand from the foodservice industry and the rising popularity of vegetarianism in Malaysia. However, stringent government regulations regarding imports are likely to restrain market growth in the near future. Malaysia has a population of over 30 million people and is a significant producer and exporter of vegetables. The country has an excellent infrastructure that supports the growth of the vegetable industry. There are ample production areas, good transportation facilities and a favourable climate. Moreover, Malaysia has developed strong trade ties with neighbouring countries which makes it an attractive destination for investment.
According to 6Wresearch, the Malaysia IQF Vegetables Market size is expected to grow during 2022-2028. The main drivers behind this growth are increasing consumer demand for healthy food, rising income levels, and increasing awareness about the health benefits of vegetables. In addition, the government has been encouraging farmers to adopt organic farming methods in order to increase the availability and quality of vegetables in the market.
Malaysia is a Southeast Asian country located on the southern tip of Borneo. The population of Malaysia is over 30 million people, with a literacy rate of over 90%. The economy of Malaysia is largely service based, with the agricultural sector accounting for only 6% of GDP. However, the vegetable market in Malaysia is growing rapidly as more and more people become aware of the health benefits associated with consuming vegetables. The Asia Pacific IQF Vegetables Market is one of the most promising for the development of Intellectual Property (IP) for food and agricultural products.
The growing popularity of vegetarianism is expected to drive market growth, as more consumers switch to vegetables as their main source of protein. Moreover, increasing awareness about healthy eating habits is also contributing to the Malaysia IQF vegetable market growth. The foodservice industry is forecast to account for a significant share of total sales. This segment is anticipated to benefit from rising consumer preference for healthier foods and increasing investment in catering services by private companies.
However, regulatory constraints imposed by the Malaysian government are likely to restrain market growth in the near future. For instance, import restrictions have made it difficult for producers overseas to bring their products into the country, thus limiting choice for consumers. Additionally, stringent labelling and quality standards are required for all imported vegetables, which further drives up costs for manufacturers.
The vegetable industry in Malaysia is comparatively young, having only emerged as an important sector in the late 1980s. At that time, there were only a few processing plants, and most vegetables were shipped directly from farm to market. However, the industry has grown rapidly since then, and now ranks as one of the country's leading agricultural sectors.
Today, Malaysia produces a wide variety of vegetables, including leafy greens, tuber crops, peppers and eggplants. The country is also well-known for its fresh fruit and vegetable exports.
One reason why the vegetable industry has been so successful in Malaysia is that the country has a favourable climate and ample land resources. Additionally, Morocco has been a major supplier of labour for Malaysian vegetable growers for many years now, which has helped to keep costs low.
Despite these advantages, there are some challenges facing the Malaysian vegetable industry. For example, tariffs on imports have been high for many years now (making Malaysian products less competitive against imports), and competition from other Southeast Asian countries is fierce. Moreover, labour shortages are a periodic problem - particularly during harvest season - due to increasing demand for jobs in other sectors of the economy. Nevertheless, overall growth rates continue to be strong compared to most other industries in Malaysia.
Based on Application, Food dominates the market share. Foodservice is gaining traction as an important end-use category over the forecast period. This is due to increased awareness about the health benefits associated with consuming fresh vegetables and fruits. The beverage segment comes after food and is also projected to during to forecasted period owing to the increasing demand from consumers.
The pandemic has had a neutral effect on the Malaysia IQF Vegetables Market revenue as the demand for the product is high and cannot be replaced easily with other substitutes. However fresh vegetables demand increased to a great extent owing to less availability of IQF vegetables owing to the strict lockdown imposed in the country.
The Malaysian vegetables industry is dominated by major players, who account for nearly two-thirds of market share. These companies are typically well-funded and have significant acreage holdings, which gives them significant control over the supply chain. The dominance of these companies has led to high prices and limited competition, which has constrained innovation and growth in the sector. In order to improve competitiveness and stimulate growth in the industry, the government is working to increase competition by encouraging new entrants and promoting innovation.
Some of the major players in the Malaysia IQF Vegetables Market share are:
These companies are engaged in manufacturing, marketing, and distributing vegetables and fruits under various brands. The key markets they serve are grocery stores, hypermarkets, and retail chains.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Malaysia IQF Vegetables Market Overview |
3.1 Malaysia Country Macro Economic Indicators |
3.2 Malaysia IQF Vegetables Market Revenues & Volume, 2021 & 2028F |
3.3 Malaysia IQF Vegetables Market - Industry Life Cycle |
3.4 Malaysia IQF Vegetables Market - Porter's Five Forces |
3.5 Malaysia IQF Vegetables Market Revenues & Volume Share, By Type, 2021 & 2028F |
3.6 Malaysia IQF Vegetables Market Revenues & Volume Share, By Application, 2021 & 2028F |
4 Malaysia IQF Vegetables Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Malaysia IQF Vegetables Market Trends |
6 Malaysia IQF Vegetables Market, By Types |
6.1 Malaysia IQF Vegetables Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Malaysia IQF Vegetables Market Revenues & Volume, By Type, 2018 - 2028F |
6.1.3 Malaysia IQF Vegetables Market Revenues & Volume, By Beans, 2018 - 2028F |
6.1.4 Malaysia IQF Vegetables Market Revenues & Volume, By Peas, 2018 - 2028F |
6.1.5 Malaysia IQF Vegetables Market Revenues & Volume, By Corn and BaCorn, 2018 - 2028F |
6.1.6 Malaysia IQF Vegetables Market Revenues & Volume, By Broccoli and Cauliflower, 2018 - 2028F |
6.1.7 Malaysia IQF Vegetables Market Revenues & Volume, By Potato, 2018 - 2028F |
6.1.8 Malaysia IQF Vegetables Market Revenues & Volume, By Onion, 2018 - 2028F |
6.1.9 Malaysia IQF Vegetables Market Revenues & Volume, By Carrot, 2018 - 2028F |
6.1.10 Malaysia IQF Vegetables Market Revenues & Volume, By Carrot, 2018 - 2028F |
6.2 Malaysia IQF Vegetables Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Malaysia IQF Vegetables Market Revenues & Volume, By Food, 2018 - 2028F |
6.2.3 Malaysia IQF Vegetables Market Revenues & Volume, By Beverage, 2018 - 2028F |
6.2.4 Malaysia IQF Vegetables Market Revenues & Volume, By Concentrate, 2018 - 2028F |
7 Malaysia IQF Vegetables Market Import-Export Trade Statistics |
7.1 Malaysia IQF Vegetables Market Export to Major Countries |
7.2 Malaysia IQF Vegetables Market Imports from Major Countries |
8 Malaysia IQF Vegetables Market Key Performance Indicators |
9 Malaysia IQF Vegetables Market - Opportunity Assessment |
9.1 Malaysia IQF Vegetables Market Opportunity Assessment, By Type, 2021 & 2028F |
9.2 Malaysia IQF Vegetables Market Opportunity Assessment, By Application, 2021 & 2028F |
10 Malaysia IQF Vegetables Market - Competitive Landscape |
10.1 Malaysia IQF Vegetables Market Revenue Share, By Companies, 2021 |
10.2 Malaysia IQF Vegetables Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |