Food - Laos

Laos

Revenue in the Food market amounts to US$7,022.00m in 2024. The market is expected to grow annually by 7.18% (CAGR 2024-2029).
The market's largest segment is the segment Meat with a market volume of US$1,765.00m 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$903.80 are generated in 2024.
In the Food market, 3.1% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 2,107.00m kg by 2029. The Food market is expected to show a volume growth of 4.2% in 2025.
The average volume per person in the Food market is expected to amount to 231.40kg 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 Laos has been seeing slow growth, influenced by factors such as limited supply of raw materials, low consumer purchasing power, and underdeveloped infrastructure for food distribution. However, the increasing focus on local food production and rising health consciousness among consumers are driving the market's growth. Convenience and demand for traditional food products are also contributing to the overall expansion of the market.

Customer preferences: As Laos continues to modernize, consumer preferences in The Food market are shifting towards convenience and health consciousness. This has led to an increase in demand for healthier and more convenient food options, such as pre-packaged meals and delivery services. Additionally, there is a growing interest in organic and locally sourced products, as well as a preference for international cuisine. This trend is driven by a combination of cultural influences and the evolving lifestyle of urban dwellers in Laos.

Trends in the market: In Laos, The Food market industry is experiencing a shift towards sustainable and organic products, as consumers become more health-conscious and demand for environmentally friendly options increases. This trend is expected to continue as the government implements policies to support and promote organic agriculture. Additionally, there is a growing interest in traditional Laotian cuisine, leading to a rise in specialty food markets and restaurants. This trend has significant implications for industry stakeholders, such as farmers and food producers, who will need to adapt to meet the changing demand. It also presents opportunities for businesses to tap into the growing market for organic and traditional foods. As the trend towards sustainable and traditional food products continues, it is essential for industry players to stay ahead of the curve and cater to evolving consumer preferences.

Local special circumstances: In Laos, The Food market is heavily influenced by the country's rich agricultural production and cultural preferences for fresh, local ingredients. With a large rural population, traditional markets are a dominant feature of the food landscape, with a strong emphasis on community and social interaction. Additionally, the government's focus on promoting sustainable agriculture has led to a surge in organic and eco-friendly food options. These factors create a unique market dynamic, with a strong demand for traditional, locally-sourced food products.

Underlying macroeconomic factors: The growth of The Food market market is also influenced by macroeconomic factors such as consumer spending habits, government policies on imports and exports, and overall economic stability. Countries with a strong and stable economy, as well as favorable trade policies, are likely to see higher growth in The Food market due to increased consumer purchasing power and market demand. Additionally, shifts in global food production and distribution, as well as changes in consumer preferences, can also impact The Food market in a given country. As the global population continues to grow and become more diverse, The Food market is expected to evolve and adapt to these changes, creating new opportunities for growth and innovation.

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.