Convenience Food - Myanmar

Myanmar

Revenue in the Convenience Food market amounts to €1.53bn in 2024. The market is expected to grow annually by 12.93% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€142bn in 2024).
In relation to total population figures, per person revenues of €27.85 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 522.20m kg by 2029. The Convenience Food market is expected to show a volume growth of 5.8% in 2025.
The average volume per person in the Convenience Food market is expected to amount to 7.5kg in 2024.

Key regions: Canada, China, Spain, Japan, Philippines

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Convenience Food Market in Myanmar is experiencing moderate growth, driven by factors such as increasing urbanization, changing consumer lifestyles, and the growing demand for convenient and easily accessible food options. However, this growth is subdued due to challenges such as limited infrastructure, high import costs, and a preference for traditional food options. These factors continue to impact the market's growth rate, leading to slower expansion within the Ready-to-Eat Meals and Soups sub-markets.

Customer preferences: As the demand for convenience and speed continues to rise, consumers in Myanmar are increasingly turning to convenience food options as a quick and easy meal solution. This trend is driven by the growing urban population and changing lifestyles, with more individuals seeking out convenient and ready-to-eat options. This shift towards convenience food is also influenced by cultural factors, such as the increasing influence of Western fast food chains and the rise of busy, on-the-go lifestyles. Additionally, the rise of e-commerce and online food delivery services has made it even easier for consumers to access and purchase convenient food options.

Trends in the market: In Myanmar, the Convenience Food Market within The Food market is experiencing a surge in demand for packaged and ready-to-eat meals due to the growing urban population and changing lifestyles. With the rise of e-commerce and food delivery services, convenience food products are becoming more easily accessible to consumers. This trend is expected to continue in the coming years, driven by the increasing demand for convenience and time-saving options. This presents opportunities for industry stakeholders to expand their product offerings and tap into the growing market. However, there may also be challenges in maintaining quality and addressing concerns over health and nutrition among consumers.

Local special circumstances: In Myanmar, the Convenience Food Market is heavily influenced by the country's geography and traditional cuisine. With a diverse landscape and varied agricultural practices, the market offers a wide range of locally sourced ingredients, resulting in unique and flavorful convenience food options. Additionally, Myanmar's cultural emphasis on communal dining and sharing meals has led to the popularity of pre-packaged and ready-to-eat meals for social gatherings and celebrations. The market is also influenced by regulatory factors, such as import restrictions and government subsidies, which impact the availability and pricing of convenience food products.

Underlying macroeconomic factors: The Convenience Food Market in Myanmar is heavily influenced by macroeconomic factors such as consumer spending power, government policies, and global economic trends. With a growing economy and increasing disposable income, consumers are more likely to spend on convenience food products. Additionally, favorable government policies and initiatives to promote the food industry have created a conducive environment for market growth. However, challenges such as inflation and fluctuating exchange rates can impact the purchasing power of consumers and affect market performance. Furthermore, the increasing trend towards urbanization and changing lifestyles are also contributing to the demand for convenience food products in Myanmar.

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.