Sweeteners - Myanmar | Statista Market Forecast

The Sweeteners Market in Myanmar is experiencing moderate growth, attributed to factors such as increasing health consciousness among consumers, rising demand for alternative sweeteners, and the convenience of online purchasing. However, subdued growth can be attributed to factors such as limited availability of natural sweeteners and high import costs for artificial sweeteners. These challenges are impacting the overall market's growth rate and hindering its potential for significant expansion.

Customer preferences: As health consciousness and dietary restrictions continue to rise among consumers in Myanmar, there has been a noticeable shift towards natural and alternative sweeteners in the Spreads & Sweeteners Market. This trend is driven by the growing preference for healthier options and the influence of traditional medicine and practices in the country. Additionally, the rise of health and wellness influencers on social media has also played a role in promoting the use of natural sweeteners such as honey and stevia.

Trends in the market: In Myanmar, there is a growing trend towards healthier eating habits, leading to a rise in demand for low-calorie and natural sweeteners in the Spreads & Sweeteners Market within The Food market. This trend is driven by increasing awareness of the negative health effects of consuming excessive amounts of sugar. As a result, companies are introducing alternative sweeteners such as stevia and monk fruit in their products. This trend is expected to continue, with a focus on providing healthier options for consumers and potential implications for industry stakeholders in terms of product development and marketing strategies.

Local special circumstances: In Myanmar, the Spreads & Sweeteners Market is heavily influenced by its geographical location and the traditional use of natural sweeteners in local cuisine. The country's tropical climate and abundant supply of sugarcane make it a popular source for sweeteners, while cultural preferences for natural and healthier options drive the demand for honey and jaggery. Additionally, the recent opening of the market and the government's efforts to promote foreign investment have attracted international players to tap into the growing market potential.

Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market in Myanmar is influenced by various macroeconomic factors. Global economic trends, such as increasing health consciousness and changing consumer preferences towards healthier options, are driving the demand for natural and alternative sweeteners in the market. Furthermore, the country's economic health and fiscal policies also play a crucial role in shaping the market landscape. For instance, favorable government policies promoting the use of natural sweeteners and investments in the food industry are expected to propel market growth. Additionally, the rising prevalence of chronic diseases and the aging population in the country are leading to a higher demand for sugar-free and low-calorie sweeteners, further driving market growth.

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.