Confectionery & Snacks - Myanmar

Myanmar

Revenue in the Confectionery & Snacks market amounts to €2.38bn in 2024. The market is expected to grow annually by 11.11% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€125bn in 2024).
In relation to total population figures, per person revenues of €43.35 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 703.80m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 5.9% in 2025.
The average volume per person in the Confectionery & Snacks market is expected to amount to 9.9kg in 2024.

Key regions: Philippines, South Korea, Canada, Japan, China

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Confectionery & Snacks Market in Myanmar is experiencing moderate growth, influenced by factors such as increasing disposable income, growing urbanization, and changing consumer preferences. However, this growth is subdued due to challenges such as limited distribution channels and low product innovation.

Customer preferences: As Myanmar's economy continues to grow and modernize, there has been a noticeable shift in consumer preferences towards healthier and more convenient snack options. This trend is driven by the rising awareness of health and wellness, as well as the increasing influence of Western diets. As a result, there is a growing demand for healthier snack alternatives, such as low-sugar and plant-based options, while traditional snacks are seeing a decline in popularity. Additionally, the rise of e-commerce has made it easier for consumers to access a wider variety of snacks, including imported brands, contributing to the diversification of the market.

Trends in the market: In Myanmar, the Confectionery & Snacks Market is experiencing a surge in demand for healthy and organic products. Consumers are increasingly seeking out products with natural ingredients and no artificial additives. This trend is driven by health-consciousness and a growing awareness of the benefits of clean eating. Industry stakeholders are taking notice and investing in research and development to meet this demand, with a focus on developing innovative and nutritious snack options. This trend is expected to continue, with potential implications for the overall food market in Myanmar as well as the global confectionery and snacks market.

Local special circumstances: In Myanmar, the Confectionery & Snacks market is heavily influenced by the country's unique geographical and cultural factors. The majority of the population lives in rural areas, where traditional snacks and sweets are preferred over modern confectionery products. Additionally, strict regulations on imported goods limit the availability of international brands, giving domestic manufacturers a competitive edge. Moreover, the country's recent economic growth and increasing disposable income have led to a rise in demand for premium and healthier snack options, driving the market's growth.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Myanmar is also significantly impacted by macroeconomic factors such as the country's economic growth, government policies, and investment in the food industry. Myanmar's economic growth has been steadily increasing over the years, leading to a rise in disposable income and consumer spending. This has resulted in a higher demand for convenient and indulgent food products, driving the growth of the Confectionery & Snacks Market. Moreover, the government's efforts to improve infrastructure and promote foreign investment in the food sector have also positively influenced market performance. However, challenges such as limited access to financing and lack of regulatory clarity may hinder the market's growth potential.

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.