Myanmar: Canned Food Market 2024

Canned Food Market Size in Myanmar

The Myanmar's canned food market rose remarkably to $X in 2021, growing by 8.1% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Canned food consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Canned Food Production in Myanmar

In value terms, canned food production expanded sharply to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 36% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Canned Food Exports

Exports from Myanmar

In 2021, approx. X tons of canned food were exported from Myanmar; growing by 246% on 2020 figures. In general, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, canned food exports skyrocketed to $X in 2021. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for canned food exports from Myanmar, with a 51% share of total exports. Moreover, canned food exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), fivefold. The third position in this ranking was taken by South Korea (X tons), with a 7.2% share.

From 2012 to 2020, the average annual growth rate of volume to China totaled +185.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+29.3% per year) and South Korea (+224.6% per year).

In value terms, China ($X) emerged as the key foreign market for canned food exports from Myanmar, comprising 23% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.6% share of total exports. It was followed by the United States, with a 4.2% share.

From 2012 to 2020, the average annual growth rate of value to China amounted to +173.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+138.9% per year) and the United States (-29.4% per year).

Export Prices by Country

The average canned food export price stood at $X per ton in 2020, rising by 3.3% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2020: its price increased at an average annual rate of +6.0% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, canned food export price increased by +52.2% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 47% against the previous year. Over the period under review, the average export prices reached the peak figure in 2020 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+23.1%), while the prices for the other major destinations experienced mixed trend patterns.

Canned Food Imports

Imports into Myanmar

Canned food imports into Myanmar shrank to X tons in 2021, reducing by -7.9% on the previous year's figure. Overall, total imports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -38.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 29%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, canned food imports declined rapidly to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 31%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2020, Thailand (X tons) was the main canned food supplier to Myanmar, accounting for a 109% share of total imports. Moreover, canned food imports from Thailand exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), sixfold. The Philippines (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2020, the average annual growth rate of volume from Thailand stood at +7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.3% per year) and the Philippines (+75.4% per year).

In value terms, Thailand ($X) constituted the largest supplier of canned food to Myanmar, comprising 68% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 21% share of total imports. It was followed by Ireland, with a 17% share.

From 2012 to 2020, the average annual rate of growth in terms of value from Thailand totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.6% per year) and Ireland (+371.3% per year).

Import Prices by Country

In 2020, the average canned food import price amounted to $X per ton, increasing by 26% against the previous year. In general, import price indicated a notable expansion from 2012 to 2020: its price increased at an average annual rate of +3.6% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, canned food import price increased by +72.0% against 2016 indices. The pace of growth was the most pronounced in 2018 an increase of 43% against the previous year. Over the period under review, average import prices reached the maximum in 2020 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Ireland (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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