Myanmar: Canned Meat Market 2024

Canned Meat Market Size in Myanmar

The Myanmar's canned meat market expanded markedly to $X in 2021, with an increase of 12% against the previous year. Overall, consumption posted prominent growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Canned Meat Production in Myanmar

In value terms, canned meat production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production recorded resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Canned Meat Exports

Exports from Myanmar

In 2021, shipments abroad of canned meat increased by 580% to X tons, rising for the third year in a row after six years of decline. In general, exports saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 766% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

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

Exports by Country

Hong Kong SAR (X tons) was the main destination for canned meat exports from Myanmar, accounting for a 70% share of total exports. Moreover, canned meat exports to Hong Kong SAR exceeded the volume sent to the second major destination, Thailand (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to +3,824.2%.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for canned meat exports from Myanmar, comprising 79% of total exports. The second position in the ranking was taken by Thailand ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at +4,952.7%.

Export Prices by Country

In 2021, the average canned meat export price amounted to $X per ton, growing by 57% against the previous year. Overall, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, canned meat export price increased by +37.5% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Thailand totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+28.7%).

Canned Meat Imports

Imports into Myanmar

In 2021, supplies from abroad of canned meat decreased by -25.2% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 174% against the previous year. Imports peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, canned meat imports shrank sharply to $X in 2021. Over the period under review, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 169% against the previous year. Imports peaked at $X in 2020, and then reduced sharply in the following year.

Imports by Country

Thailand (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of canned meat imports to Myanmar, with a combined 52% share of total imports. China, Hong Kong SAR, Turkey and France lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +83.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest canned meat suppliers to Myanmar were South Korea ($X), Thailand ($X) and Hong Kong SAR ($X), with a combined 50% share of total imports. Taiwan (Chinese), China, Turkey and France lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +51.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average canned meat import price stood at $X per ton in 2021, shrinking by -22.3% against the previous year. In general, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 33% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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