Industry at A Glance

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HUGE FOOD & BEVERAGE DEMAND IN MYANMAR


  • According to Asian Development Bank, Myanmar’s economic performance should improve with    GDP growth at 7.7% in 2017 and 8.0% in 2018.
  • McKinsey Estimates that Myanmar economy will quadruple in size from USD 45 billion in 2014 to USD 200 billion by 2030.
  • Retail market is promising, as new international brands rush to capitalize on growing consumer class and a relatively untapped market.
  • Food & Beverage and Fast Moving Consumer Goods (FMCG) are poised for growth, as evidenced by raising foreign investment bolstered by the lifting of US sanctions and domestic trade liberalization policies.
  • Packed food market had been estimated to reach nearly USD1.7 billion in 2016, represented growth rate of over 92% since 2012. By 2021, the market will reach USD3.1 billion, with 60.4% growth rate.
  • Myanmar is identified as one of the “20 Markets of the Future” by Euromonitor.
  • Euromonitor forecast the country’s USD375m domestic beer market could grow to reach $675m in 2018.
  • Market for powdered beverages in Myanmar is promising with approximately 247,000 tons in 2016 which is about twice the size of the market in Thailand.
  • Overall packaged food sales are anticipated to register a CAGR of 15% between 2014 and 2018.
  • Values of sales of soft drinks are anticipated to grow at a CAGR of 23% over 2014-2018.
  • Manufacturing is expected to become one of the most significant economic growth drivers in the coming years.

 

Source :  Asian Development Bank, McKinsey Global Institute, Oxford Business Group, Euromonitor
  Ajinomoto Co., British Chamber of Commerce,Myanmar.