Processed Meat - Myanmar | Statista Market Forecast

The processed meat market in Myanmar is experiencing subdued growth due to various factors, such as low consumer awareness, limited availability of digital technologies, and traditional food preferences. The ham & bacon, sausages, and cold & roast meat sub-markets also face challenges in terms of supply chain inefficiencies and lack of modernization. However, with increasing health consciousness and changing consumer preferences, the market is expected to grow in the coming years.

Customer preferences: The processed meat market in Myanmar has experienced significant growth due to the rising demand for convenience and ready-to-eat products. This trend is driven by busy lifestyles and the increasing number of working women in the country. As a result, there is a growing preference for processed meat products that are easy to prepare and require minimal cooking time. This shift in consumer preferences is also influenced by the Westernization of diets and the growing influence of urbanization on food choices.

Trends in the market: In Myanmar, the Processed Meat Market of the Meat Market within The Food market is experiencing a rise in demand for halal and organic processed meats, as consumers become more health-conscious and aware of ethical and religious considerations. This trend is expected to continue, with a growing number of companies offering certified halal and organic options. This shift towards healthier and more ethical choices is significant for stakeholders, as it presents opportunities for market growth and differentiation. However, it may also pose challenges in terms of sourcing and production processes. Additionally, there is a growing trend of online food delivery and e-commerce in Myanmar, providing an avenue for processed meat companies to reach a larger consumer base. This digitalization of The Food market has potential implications for stakeholders, as it requires a shift towards online marketing and distribution strategies. As the digital landscape continues to evolve in Myanmar, it will be crucial for processed meat companies to adapt and utilize these platforms to remain competitive in the market.

Local special circumstances: In Myanmar, the Processed Meat Market of the Meat Market within The Food market is heavily influenced by the country's traditional cuisine, with a strong emphasis on pork and poultry products. Additionally, the lack of cold storage facilities and transportation infrastructure poses challenges for the distribution of processed meat products. The growing demand for convenience and Western-style food options, especially among the urban population, is driving the market for processed meat. Government regulations on food safety and labeling also play a significant role in shaping the market.

Underlying macroeconomic factors: The Processed Meat Market of the Meat Market within The Food market in Myanmar is influenced by macroeconomic factors such as economic growth, consumer spending power, and government policies. With the country's improving economic conditions and increasing disposable income, the demand for processed meat products is expected to rise. Additionally, favorable government policies and investments in the food industry are creating opportunities for market growth. However, challenges such as rising inflation and trade restrictions may hinder market expansion. Overall, the market is expected to experience steady growth due to the country's improving economic health and supportive government initiatives.

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.