Fresh Fish - Myanmar

Myanmar

Highlights

Revenue in the Fresh Fish market amounts to US$2.73bn in 2024. The market is expected to grow annually by 10.52% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$57bn in 2024).
In relation to total population figures, per person revenues of US$49.72 are generated in 2024.
In the Fresh Fish market, volume is expected to amount to 105.20m kg by 2029. The Fresh Fish market is expected to show a volume growth of 3.9% in 2025.0.
The average volume per person in the Fresh Fish market is expected to amount to 1.7kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Fish Market in Myanmar has seen steady growth due to factors such as increasing demand for seafood, growing health awareness, and the convenience of online services. However, the market's growth rate is impacted by various factors, resulting in subdued growth.

Customer preferences: Consumers in Myanmar are increasingly opting for locally-sourced fresh fish, as people become more health-conscious and prioritize sustainable and ethical food choices. There is a growing trend towards purchasing directly from fishermen or small-scale fish farms, as consumers look for transparency in the supply chain and support for local communities. This shift is also driven by the cultural value of fresh and unprocessed food, as well as the desire for a closer connection to the source of their food.

Trends in the market: In Myanmar, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a shift towards e-commerce, with more consumers turning to online channels for purchasing seafood. This trend is significant as it allows for a wider reach and convenience for both buyers and sellers. Furthermore, there is a growing demand for sustainably sourced seafood, leading to the emergence of eco-friendly fishing practices and certifications. These trends have implications for industry stakeholders, such as the need for digital marketing and the adoption of sustainable practices to meet changing consumer preferences.

Local special circumstances: In Myanmar, the Fresh Fish Market is heavily influenced by the country's location along the Bay of Bengal, with a rich fishing tradition and access to a diverse range of seafood. Additionally, the country's cultural preference for fresh and locally sourced products drives the demand for the Fresh Fish Market. The regulatory environment also plays a role, with strict regulations on fishing practices and seafood exports. These factors contribute to a unique market dynamic, with a strong emphasis on sustainability and high-quality products in the Fresh Fish Market of Myanmar.

Underlying macroeconomic factors: In Myanmar, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's increasing economic stability and growth, along with rising disposable incomes, have resulted in a growing demand for fresh fish and seafood. Additionally, the government's initiatives to boost the fishing and aquaculture industry through investments in infrastructure and modernization have further propelled market growth. However, challenges such as insufficient cold chain infrastructure and inadequate regulatory frameworks have hindered market growth in the past, but with ongoing efforts to address these issues, the market is expected to continue its upward trend.

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.