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Malaysia is second only to Indonesia, Thailand, and the Philippines. It is the fourth largest economy in ASEAN and has a Chinese market of 23.4%. The economic growth rate in recent years is about 4-5%. An important springboard to expand the Muslim market. According to a survey by the National Treasury Holdings Research Institute of Malaysia, the Chinese have 80% of Malaysia's economy and are the ethnic group with the highest average income, followed by Indians. Therefore, the local Chinese in the Greater Kuala Lumpur area are the main consumers of local consumption, and are also the marketing targets that Taiwanese packaged food industry can give priority to.
According to Euromonitor (2017) data, Malaysia ’s packaged food categories, such as snacks, beverages, cereal drinks, sauces, and other items have only seen a slight increase in growth rate in the past year. It is expected that the compound growth rate for 2017-2021 will fall to approximately -6%. Among packaged foods, the snack market is the largest, with market opportunities of up to 6.76 billion US dollars. Overall, Malaysia's internal policies and international economic environment have reduced Malaysian consumers' preference for packaged foods to purchase products with discounts or gifts.
Malaysian consumers are sweet and salty in their eating habits, so a higher percentage of consumers have diabetes and three high symptoms from a young age. With the increase in income, the development of urbanization, and the popularization of education, more and more consumers prefer packaged foods with health requirements, such as sugar-free biscuits, low-fat dairy products, and vitamin-rich packaged foods.
Seeing the rise of health-conscious market opportunities in the local area, many local and international brands have launched health-conscious products (such as children's food, breakfast beverages, baked goods, biscuits, etc.) and educated consumers about their products through advertising marketing Healthy ingredients and characteristics, such as high calcium or adding other minerals and vitamins, to attract consumers to buy. And snack-type or jelly-type small package foods that can supplement daily nutritional ingredients (such as calcium, vitamins, collagen, etc.) are very popular and sell well in the local area, and are also welcomed by local buyers. In addition, enzymes and brewed beverages are also healthy drinks that consumers are accustomed to drinking. Compared with other markets in ASEAN, consumers have higher acceptance.
It is worth noting that even packaged foods that demand health orientation should still be classified as food when importing to Malaysia instead of choosing health food. The main reason is that it is much more difficult to apply for a health food import permit than general foods. Except for medicinal health foods, import permits are generally applied to foods. However, Malaysia ’s regulations on product packaging are more lenient, so products with health claims entering the local market can be emphasized on the packaging so that there is a way to attract consumers ’attention and purchase.
The Commercial Research Institute found that whether Taiwanese packaged foods have JAKIM halal certification or have obtained a halal certificate issued by a foreign halal unit recognized by the official agency of the country has become one of the important purchase considerations for the preliminary evaluation and selection of local buyers. The main reason is that in addition to catering to the needs of consumers, buyers also have an extra guarantee for the quality of imported goods.
Therefore, if the initial entry into the market does not have halal certification, it is recommended to find a specialty store for Chinese customers in terms of channel selection. Although its size and channel coverage are limited, its consumer group has a high awareness of Taiwan and product order The price is medium to high, and it is also highly accepted by consumers. The application for halal certification can be applied for halal certification if the sales situation is stable.
In addition, in terms of product packaging, most Taiwanese manufacturers have strong Chinese products and the packaging is mostly in Chinese fonts. Therefore, the target market is relatively limited, mainly targeting the Greater Kuala Lumpur Chinese region. The Commercial Research Institute found that buyers who have a preference, resonance, and willingness to place orders for Taiwanese products are mostly of Chinese background, have many Chinese product distribution channels, and even enter the Malay Muslim market. Taking Chinese buyers as a stepping stone to the Malaysian market will help Taiwanese players quickly enter the Malaysian market and expand their distribution channels.
In addition, the majority of Chinese Malaysian buyers have visited Taiwan. They are familiar with the Taiwan market and channel products as compared to Malay buyers. They also understand and agree with the intentions of the new Taiwan flow and the quality of Taiwan products. Probability of matchmaking and cooperation possibilities.
Source: TheNewLens Key Comments Southeast Asia 6/19/2018 Political and Economic Affairs
