Food - Brunei Darussalam

Brunei Darussalam

Highlights

Revenue in the Food market amounts to US$802.00m in 2024. The market is expected to grow annually by 3.36% (CAGR 2024-2029).
The market's largest segment is the segment Fish & Seafood with a market volume of US$146.70m in 2024.
In global comparison, most revenue is generated China (US$2tn in 2024).
In relation to total population figures, per person revenues of US$1.76k are generated in 2024.
In the Food market, 11.6% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 183.10m kg by 2029. The Food market is expected to show a volume growth of 2.6% in 2025.0.
The average volume per person in the Food market is expected to amount to 355.90kg in 2024.

Key regions:

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 definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Brunei Darussalam's Food Market has been seeing slow growth due to a combination of factors. These include a lack of awareness and adoption of digital technologies, as well as a limited range of products available in the sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, and more. Additionally, the country's small population and reliance on traditional food preparation methods have hindered the growth of the market. However, with increasing health awareness and a growing demand for convenience, there is potential for growth in the future.

Customer preferences: As Brunei Darussalam's population becomes more health-conscious, there has been a noticeable increase in demand for organic and natural food products. This trend is driven by consumers' growing awareness of the benefits of a healthy diet and the desire for sustainable, environmentally-friendly options. As a result, there has been a rise in the availability of locally-sourced, organic food options in the market. This shift towards healthier and eco-friendly food choices is expected to continue in the coming years.

Trends in the market: In Brunei Darussalam's Food Market, there is a noticeable trend towards healthier and more sustainable food options. This is driven by increasing consumer awareness and demand for ethically-sourced and organic products. This trend is expected to continue as the government has introduced policies to promote sustainable food production and consumption. This shift towards healthier and sustainable food options presents opportunities for industry stakeholders to innovate and cater to evolving consumer preferences. It also has implications for the supply chain as more companies are investing in sustainable sourcing and production methods to meet this growing demand.

Local special circumstances: In Brunei Darussalam, The Food market is heavily influenced by the country's geographical location and cultural traditions. As a small country located on the island of Borneo, Brunei has a diverse range of food options influenced by its neighboring countries, such as Malaysia and Indonesia. This has led to a unique fusion of Malay, Chinese, and Indian cuisines in the local food market. Additionally, Brunei's strict halal regulations also play a significant role in shaping the market, as the majority of the population follows Islamic dietary restrictions. These factors create a dynamic and diverse food market in Brunei, catering to both local and international tastes.

Underlying macroeconomic factors: The Food market market in Brunei Darussalam is heavily influenced by macroeconomic factors such as the overall economic health of the country, government fiscal policies, and global economic trends. As a small, oil-dependent economy, Brunei is vulnerable to fluctuations in global oil prices, which can impact consumer spending and overall market performance. In addition, government policies and regulations related to food imports and exports can also have a significant impact on the market. Furthermore, the growing trend of health-consciousness and increasing disposable income among the population are driving the demand for healthier and higher-quality food options, creating opportunities for market growth. However, the limited land and resources in Brunei may pose challenges for the domestic production of food, making the country more reliant on imports and vulnerable to changes in global food prices.

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.