Overall volume sales of cooking ingredients and meals categories continued to increase steadily in 2024 as the economy continued to recover from the pandemic and post-coup economic downturn. Sales were driven by habitual consumption, distribution channel expansion and product innovation.
Retail prices of cooking ingredients and meals increased further in 2024 due to inflation and currency exchange rate depreciation, which has driven up raw material and production costs for local manufacturers and importers. As a result of these average unit price increases, households are opting for low-volume pack sizes or switching to more affordable alternatives across different categories.
Myanmar is expected to see GDP growth of 1.2% in 2024 and 2.
Ongoing economic pressures are having a significant negative effect on consumer confidence and food security, particularly for low socioeconomic households whose savings have been drained as a result of inflation and reduced income levels. As a result, households have become more price conscious when spending on essential cooking ingredients that they consume regularly, such as edible oils, sauces, seasonings and condiments.
Daily power outages, along with increasing fuel and logistics costs, continue to significantly impact manufacturing operations, driving up retail prices for groceries, including cooking ingredients and meals. On the positive side, many households are switching to packaged ready meals, ordering takeout from foodservice outlets or dining out due to insufficient time or resources to prepare meals at home.
Cooking ingredients and meals will see consistent growth over the forecast period. Much of this will stem from positive economic growth over the forecast period, with rising levels of foreign direct investment supported by the country's low labour costs and its strategic location between India, China and Thailand.
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Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in Myanmar with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in Myanmar, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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