Food - Myanmar

Myanmar

Revenue in the Food market amounts to US$25.74bn in 2024. The market is expected to grow annually by 12.48% (CAGR 2024-2029).
The market's largest segment is the segment Bread & Cereal Products with a market volume of US$4.33bn 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$468.20 are generated in 2024.
In the Food market, 1.8% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 11,250.00m kg by 2029. The Food market is expected to show a volume growth of 5.5% in 2025.
The average volume per person in the Food market is expected to amount to 161.20kg 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

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Analyst Opinion

The Food market in Myanmar has been experiencing slow growth, impacted by factors such as limited access to technology, low health awareness among consumers, and challenges in supply chain and distribution. However, with the growing demand for convenience and healthier options, the market is expected to see a gradual rise in the coming years. The sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Convenience Food, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes and Pasta & Rice play a crucial role in shaping the overall market growth.

Customer preferences: Consumers in Myanmar are increasingly turning towards healthier food options, driven by a growing awareness of the link between diet and overall well-being. This shift towards health-consciousness has led to a rise in demand for organic, locally-sourced produce and a decline in processed and fast foods. Additionally, the younger generation is seeking out more diverse and exotic food options, influenced by the country's multicultural heritage and increasing exposure to international cuisines.

Trends in the market: In Myanmar, The Food market is experiencing a surge in demand for organic and locally sourced products. This trend is being driven by a growing consumer awareness and preference for healthy and sustainable food options. As a result, there is a rise in the number of small-scale farmers and businesses catering to this demand. This trajectory is significant as it not only promotes the growth of the local economy, but also supports the country's agricultural sector and promotes sustainable farming practices. Industry stakeholders, such as farmers and producers, can capitalize on this trend by diversifying their product offerings and investing in sustainable production methods. Additionally, this trend has potential implications for the overall health and well-being of the population, as access to nutritious and sustainable food options can lead to improved health outcomes.

Local special circumstances: In Myanmar, The Food market is heavily influenced by the country's geography and cultural traditions. Due to the country's large rural population, traditional markets and street food stalls remain popular, while urban areas have seen a rise in modern supermarkets and convenience stores. The government's push for economic development and foreign investments has also led to an increase in international food chains entering the market. Additionally, the recent political changes and opening up of the country have created a growing middle class with changing dietary preferences and an increasing demand for convenience and quality in food products.

Underlying macroeconomic factors: The Food market market in Myanmar is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The country's shift towards a more open economy has led to increased foreign investment and trade, contributing to overall economic growth. Additionally, the government has implemented policies to promote agricultural development, leading to increased production and export of food products. However, challenges such as limited infrastructure, political instability, and ongoing conflicts in certain areas can hinder market growth. Furthermore, the country's high poverty rate and income inequality may affect consumer spending and market demand.

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.