Pet Food - Myanmar

Myanmar

Revenue in the Pet Food market amounts to €73.18m in 2024. The market is expected to grow annually by 13.64% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€55,400m in 2024).
In relation to total population figures, per person revenues of €1.33 are generated in 2024.
In the Pet Food market, volume is expected to amount to 94.39m kg by 2029. The Pet Food market is expected to show a volume growth of 6.9% in 2025.
The average volume per person in the Pet Food market is expected to amount to 1.3kg in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Pet Food Market in Myanmar is seeing mild growth, influenced by factors such as the growing popularity of digital technologies, increasing pet ownership, and the convenience of online pet food services. This market is expected to continue its steady growth rate in the coming years.

Customer preferences: As pet ownership continues to rise in Myanmar, there is a growing demand for high-quality and nutritious pet food products. In addition to the traditional dry and wet food options, there has been an increase in demand for organic and natural pet food products. This shift in consumer preferences is driven by a growing awareness of the importance of providing a healthy and balanced diet for pets. Furthermore, the trend of humanization of pets has led to pet owners seeking out premium and specialized food options for their beloved companions.

Trends in the market: In Myanmar, the Pet Food Market is experiencing a surge in demand for organic and natural pet food products, driven by an increasing awareness of health and wellness among pet owners. This trend is expected to continue, as more players enter the market with innovative and high-quality offerings. Additionally, there is a growing preference for premium pet food options, as pet owners are willing to spend more on their pets' nutrition. This trend bodes well for industry stakeholders, as it presents opportunities for growth and expansion. However, it also poses challenges in terms of meeting quality standards and pricing competitively. Thus, companies in the Pet Food Market must continuously innovate and adapt to stay competitive and capitalize on this trend.

Local special circumstances: In Myanmar, the Pet Food Market is heavily influenced by the country's unique regulatory circumstances. Due to the government's strict regulations on imported goods, local pet food manufacturers have gained a competitive advantage. Additionally, Myanmar's cultural beliefs regarding pet ownership have also shaped the market, with a preference for natural and organic pet food products. These factors have led to a growing demand for locally produced pet food, creating a thriving market for domestic manufacturers.

Underlying macroeconomic factors: The Pet Food Market in Myanmar is heavily influenced by macroeconomic factors such as economic growth, consumer spending, and government policies. As the country continues to experience rapid economic growth and an increasing middle-class population, there is a growing demand for high-quality pet food products. Moreover, favorable government policies and investments in the food industry have created a conducive environment for the growth of the pet food market. With rising disposable income and a growing pet ownership rate, the market is expected to experience significant growth in the coming years. Additionally, the increasing trend of humanization of pets and the growing awareness of pet health and nutrition are also driving the demand for premium and specialized pet food products.

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.