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.