Fish & Seafood - Myanmar

Myanmar

Highlights

Revenue in the Fish & Seafood market amounts to US$3.57bn in 2024. The market is expected to grow annually by 10.47% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$64.97 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 196.20m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 3.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Myanmar is experiencing subdued growth, influenced by factors such as limited access to technology, low health awareness, and preference for traditional means of purchasing seafood. However, with the rising demand for fresh and processed fish and seafood, digital technologies could potentially drive growth in the market in the near future.

Customer preferences: As consumer awareness of sustainability and ethical sourcing grows, there has been a noticeable increase in demand for sustainable and responsibly sourced fish and seafood options in Myanmar. This trend is driven by a growing concern for the environment and the desire for transparency in the food supply chain. As a result, retailers and restaurants are increasingly offering certified sustainable seafood options, and consumers are willing to pay a premium for these products. Additionally, there is a growing preference for locally caught and produced seafood, highlighting a shift towards supporting local businesses and reducing the carbon footprint of imported seafood.

Trends in the market: In Myanmar, the Fish & Seafood Market is experiencing a shift towards sustainable and ethical practices, with a growing focus on responsible sourcing and traceability. This trend is driven by increasing consumer awareness and demand for transparency in the food industry. As a result, industry stakeholders are investing in technologies and certifications to ensure the sustainability and quality of their products. This trajectory not only benefits the environment and local communities, but also presents opportunities for market growth and differentiation for businesses. However, challenges such as limited infrastructure and resources must be addressed to fully realize the potential impact of this trend in the Fish & Seafood Market.

Local special circumstances: In Myanmar, the Fish & Seafood Market has seen significant growth due to the country's extensive coastline and rich seafood resources. However, the market is also heavily influenced by cultural and regulatory factors, such as traditional fishing practices and government policies on fishing rights. This has led to a unique market dynamic where small-scale local fishermen play a significant role in the supply chain, resulting in a diverse range of fish and seafood products available in the market. Additionally, the market is also driven by increasing demand from neighboring countries, such as China and Thailand, for high-quality seafood products.

Underlying macroeconomic factors: The growth of the Fish & Seafood Market within The Food market is heavily impacted by macroeconomic factors such as trade policies, consumer spending, and global seafood production. Countries with favorable trade agreements, high consumer demand for seafood, and strong seafood production industries are experiencing faster market growth compared to regions with trade barriers and lower seafood consumption. Additionally, the increasing awareness of the health benefits of consuming seafood and the rise in disposable income worldwide are driving the demand for high-quality fish and seafood products, further influencing the performance of the market.

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.