Seasonings, dressings & sauces market in Malaysia to grow at 4.5% CAGR through 2026, finds GlobalData

Malaysia seasonings, dressings & sauces market is projected to grow from MYR2.2bn ($527.4m) in 2021 to MYR2.7bn (U$664m) by 2026 at a compound annual growth rate (CAGR) of 4.5% over the five-year period 2021–2026, says GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Malaysia Seasonings, Dressings & Sauces – Market Assessment and Forecasts to 2026’ reveals that the market growth will mainly be driven by the condiment sauces category, which is forecast to register the fastest value CAGR of 5.3% over 2021–2026. The category is followed by tomato pastes and purées, which is projected to record a CAGR of 4.9% over the same period.

Siddhartha Rodrigues, Consumer Analyst at GlobalData, says: “The rise in home cooking since the onset of COVID-19 is driving the demand for seasonings, dressings & sauces, which serve as cooking sauces, table sauces, and as ready-to-consume table dips. Consumers are looking for high quality products in convenient formats that can easily endow the flavor of restaurant-quality dishes to home-cooked meals and snacks.”

‘Hypermarkets & supermarkets’ was the leading distribution channel in the Malaysian seasonings, dressings & sauces sector in 2020, followed by convenience stores, and food & drinks specialists.

The per capita expenditure on seasonings, dressings & sauces in Malaysia increased from $6.4 in 2016 to $7.8 by 2021, and is further forecast to reach $9.4 by 2026, which will be higher than the regional average of $9.1, and lower than the global average of $13.8.

​Nestle, Lee Kum Kee, and Mars Incorporated were the top three companies in the Malaysian seasonings, dressings & sauces market by value in 2021, and Maggi and Lee Kum Kee were the leading brands.

Rodrigues concludes: “As the pandemic wanes, consumers are poised to venture out of their homes more frequently. Owing to their hectic lifestyles, young consumers are seeking healthier seasonings, dressings & sauces with novel flavors in convenient formats that can help them reduce the time spent in prepping and cooking dishes at home.

“They are seeking traditional and innovative flavors that can elevate the taste of home-cooked dishes and snacks and enhance the overall at-home consumption experience. Manufacturers need to expand their product portfolio with multiple flavors to meet the varying demands of consumers.”

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