Myanmar Frozen Food Market - Growth, Trends and Forecasts (2018 - 2023)
The Myanmar frozen food market was valued at USD 142.09 million in 2017 and is expected to register a CAGR of 4.7% during the forecast period, 2018-2023. Consumers’ habits are changing gradually with the changing lifestyles of the population with the gradually increasing economy. Snacking is one of the most prominent trends which is being observed in the consumers across Myanmar. The local consumers like “on the go” snacking and quality aspects of the frozen foods are making the category popular amid the consumers.
Rapid Urbanization is driving the Market
Urbanization has led to an increased awareness among the consumers who have now started to look for essential traits offered by the packaged food. For instance, enhanced shelf life of frozen foods have started to largely affect the consumers purchasing decisions and is helping in driving the growth of frozen food sales in the country.
With the rapidly improving incomes and augmenting middle class across the country, the population has started to develop appetites for foreign food and drinks. Amid this trend of experimentation within the population, frozen foods are gaining popularity in the local market. Currently, the demand for premium food categories like frozen food is concentrated within cities of Myanmar like Yangon, Naypyidaw, Mandalay and other large cities where purchasing power got strengthened lately.
Frozen Snacks are the Fastest-Growing Category within the Industry
The frozen snacks include frozen bakery product such as frozen bread, frozen pizza crust, frozen cakes & pastries, biscuits, cookies, and other fast food frozen products, such as puff, wafers etc. The instant products like noodles, and bakery products like puffs, patties are highly popular in the country -which is driving the market growth for the segment.
The frozen ready meal segment in Myanmar enjoyed stronger sales (globally) in the past, but the growing concerns about obesity and other lifestyle diseases have urged consumers pay close attention to nutritional labelling. Manufacturers are thus catering to this recent trend by offering healthy choices in the form of value-added nutrients, less salt and fat, etc.
The Myanmar frozen food market comprises of both domestic and international players with their presence for quite a long time. The foreign multinationals mainly sell their products in this country through networking with local distributors and online channels. With the increase in the development of the markets in Myanmar, brands like Food Empire, Dr. Oetker, and others are trying to expand its footprints in this country by the introduction of new flavors and types of frozen food products in accordance to the choices of local population.
Mettingen, Conditorei Coppenrath & Wiese, in 2016, introduced the production of a new range of frozen and refrigerated baked goods, with a key focus on new and innovative products such as cheesecakes, pies, crumbles, and tarts.
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Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come.
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
Country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years.
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players.
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Customization of the Report
Pricing Strategy, including price trends and the popular products
Volume data of frozen food product types
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