Food - Bangladesh

Bangladesh

Revenue in the Food market amounts to US$149.10bn in 2024. The market is expected to grow annually by 9.19% (CAGR 2024-2029).
The market's largest segment is the segment Bread & Cereal Products with a market volume of US$27.48bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$853.70 are generated in 2024.
In the Food market, 1.0% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 57.02bn kg by 2029. The Food market is expected to show a volume growth of 4.5% in 2025.
The average volume per person in the Food market is expected to amount to 272.60kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

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Analyst Opinion

The Food market in Bangladesh is experiencing moderate growth, influenced by factors such as changing dietary habits, increasing health consciousness, and the convenience of online food delivery services. However, the market's growth rate is subdued due to challenges such as inadequate infrastructure, high competition, and low purchasing power in certain sub-markets.

Customer preferences: As Bangladesh's population becomes more urbanized and tech-savvy, there has been a noticeable increase in demand for online food delivery services. This trend is driven by convenience and changing lifestyles, as more people opt for ready-to-eat meals over traditional home cooked dishes. Additionally, there has been a surge in demand for healthy and organic food options, as consumers become more health-conscious and prioritize sustainability in their food choices. This has also led to the rise of online grocery shopping and meal kit delivery services, catering to the growing demand for fresh and sustainable food options.

Trends in the market: In Bangladesh, The Food market industry is experiencing a surge in demand for online food delivery services, with more consumers opting for the convenience and safety of ordering food from home. This trend is expected to continue as the country embraces e-commerce and digital payment methods. Additionally, there is a growing interest in healthy and organic food options, leading to the rise of specialty food stores and restaurants. These trends have significant implications for industry stakeholders, as they need to adapt to the changing consumer preferences and invest in technology to stay competitive.

Local special circumstances: In Bangladesh, The Food market is heavily influenced by the country's geographical location, with access to the Bay of Bengal and its fertile land contributing to a diverse range of crops and seafood. The cultural heritage of Bangladesh also plays a significant role, with a strong emphasis on traditional cooking methods and a preference for locally sourced, fresh ingredients. Additionally, government regulations aim to support local farmers and promote food safety, creating a unique market dynamic compared to other countries.

Underlying macroeconomic factors: The Food market in Bangladesh is heavily impacted by macroeconomic factors such as the country's overall economic health, global economic trends, fiscal policies, and other relevant financial indicators. The market is largely dependent on the country's GDP growth, inflation rates, and consumer spending patterns. Additionally, fluctuations in currency exchange rates, trade policies, and economic stability also play a significant role in shaping the performance of the market. The rising population and increasing disposable income in the country are leading to a growing demand for food products, while government initiatives and investments in the agricultural sector are driving the production and supply of food items. However, challenges such as food insecurity, poverty, and limited access to resources and technology continue to hinder the growth of The Food market in Bangladesh.

Methodology

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.