Market Insights Consumer Food Convenience Food

Soups - Myanmar

Myanmar

Revenue in the Soups market amounts to €148.90m in 2024. The market is expected to grow annually by 12.62% (CAGR 2024-2029).
In global comparison, most revenue is generated in Indonesia (€9,379m in 2024).
In relation to total population figures, per person revenues of €2.71 are generated in 2024.
In the Soups market, volume is expected to amount to 56.56m kg by 2029. The Soups market is expected to show a volume growth of 5.4% in 2025.
The average volume per person in the Soups market is expected to amount to 0.8kg in 2024.

Key regions: United Kingdom, Russia, Philippines, United States, Spain

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Soups Market in Myanmar is currently experiencing subdued growth, due to factors such as limited consumer awareness and low disposable income. Despite this, convenience offered by pre-packaged soups is driving some growth within the larger Convenience Food Market.

Customer preferences: The soups market within the convenience food market in Myanmar has seen a growing demand for healthier options, driven by the increasing health consciousness among consumers. This has led to a surge in demand for plant-based and low-sodium soups, as well as soups with added functional ingredients such as turmeric and ginger. Additionally, with the rise of urbanization and busy lifestyles, there is a growing preference for convenient and on-the-go soup options, such as ready-to-eat and instant soups. This trend is also influenced by the increasing adoption of Western eating habits and the desire for variety and novelty in food choices.

Trends in the market: In Myanmar, the Convenience Food Market is experiencing a rise in demand for convenient and healthy options, driving the growth of the Soups Market. The use of local ingredients and traditional flavors in soups is gaining popularity, catering to the increasing preference for authentic and natural products. With the growing awareness of health and wellness, there is also a trend towards soups with added functional benefits, such as immune-boosting ingredients. This trend is expected to continue, creating opportunities for industry players to innovate and expand their product offerings. Additionally, the rise of online food delivery platforms in Myanmar is also expected to drive the growth of the Soups Market, as consumers seek convenient and hassle-free options for their meals.

Local special circumstances: In Myanmar, the Soups Market of the Convenience Food Market is heavily influenced by the country's geographical and cultural factors. The limited availability of fresh ingredients and the prevalence of spicy and flavorful cuisine have led to the popularity of instant soups. Additionally, the lack of a strong regulatory framework has allowed for the proliferation of small-scale local producers, creating a unique market dynamic. The convenience and affordability of instant soups have also made them a popular choice among the working population in urban areas.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is also influenced by macroeconomic factors such as consumer spending habits, inflation rates, and government policies. Countries with stable economies and high levels of disposable income are likely to have a greater demand for convenience foods, including soups. Additionally, changes in consumer preferences towards healthier and more convenient food options are also impacting the growth of the soups market. The increasing urbanization and busy lifestyles in many countries are also driving the demand for convenient and ready-to-eat food products, further boosting the growth of the soups market.

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.