Fresh Seafood - Myanmar

Myanmar

Highlights

Revenue in the Fresh Seafood market amounts to US$280.70m in 2024. The market is expected to grow annually by 9.00% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$12bn in 2024).
In relation to total population figures, per person revenues of US$5.11 are generated in 2024.
In the Fresh Seafood market, volume is expected to amount to 6.38m kg by 2029. The Fresh Seafood market is expected to show a volume growth of 0.8% in 2025.0.
The average volume per person in the Fresh Seafood market is expected to amount to 0.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Fresh Seafood Market in Myanmar is experiencing minimal growth, influenced by factors such as limited access to technology, low health awareness, and traditional food preferences. This has resulted in slow adoption of online services and hindered market growth.

Customer preferences: Consumers in Myanmar are increasingly seeking fresh, locally sourced seafood in response to growing concerns about food safety and sustainability. This trend is driven by a cultural preference for fresh, unprocessed food and a desire to support local fishermen and businesses. Additionally, as the country's economy continues to develop, there is a growing demand for premium seafood products, particularly among urban consumers with higher disposable incomes. This has led to an increase in the availability of higher-end seafood options and a shift towards more sustainable and traceable sourcing practices within the Fresh Seafood Market.

Trends in the market: In Myanmar, there is a growing demand for fresh seafood in the Fish & Seafood Market within The Food market. This trend is driven by an increase in domestic consumption and a rise in export opportunities. The market is also seeing a shift towards sustainable fishing practices and a push for traceability in the supply chain. As a result, industry stakeholders are investing in technology and automation to improve efficiency and meet these demands. Additionally, there is a rise in e-commerce platforms for seafood, providing consumers with more convenient options and increasing competition in the market. These trends are significant for the industry as they drive growth and require adaptation to keep up with changing consumer preferences. However, they also present challenges for smaller players who may struggle to invest in new technologies and comply with sustainability measures. Overall, the shift towards sustainability and technology in the Fresh Seafood Market in Myanmar has the potential to improve the industry's competitiveness and ensure long-term sustainability.

Local special circumstances: In Myanmar, the Fresh Seafood Market of the Fish & Seafood Market within The Food market is heavily influenced by the country's coastal geography, with a large portion of the population engaged in fishing and aquaculture. This has resulted in a wide variety of locally caught seafood available in the market. Additionally, cultural preferences for fresh and sustainably sourced seafood have led to strict regulations and certifications, making Myanmar a leader in sustainable fishing practices. These unique factors contribute to the market's dynamic growth and increasing popularity among both locals and tourists.

Underlying macroeconomic factors: The Fresh Seafood Market of the Fish & Seafood Market within The Food market is greatly affected by macroeconomic factors such as trade policies, consumer spending, and economic growth. Countries with favorable trade policies and strong consumer spending are experiencing higher market growth compared to regions with trade barriers and low consumer confidence. Additionally, the increasing demand for healthier, more sustainable food options is driving the growth of the Fresh Seafood Market, as consumers become more conscious of their health and the environmental impact of their food choices. Moreover, economic growth and stability play a crucial role in the growth of the Fresh Seafood Market, as it directly impacts consumer purchasing power and demand for premium seafood products.

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.