Myanmar: Market for Frozen Vegetables other than Potato and Corn 2024

Market Size for Frozen Vegetables other than Potato and Corn in Myanmar

For the third year in a row, the Myanmar's market for frozen vegetables other than potato and corn recorded decline in sales value, which decreased by -27.6% to $X in 2022. In general, consumption saw a significant contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Frozen Vegetables other than Potato and Corn in Myanmar

In value terms, production of frozen vegetables other than potato and corn stood at $X in 2022 estimated in export price. Overall, production showed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 47% against the previous year. Production of peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Frozen Vegetables other than Potato and Corn

Exports from Myanmar

In 2022, exports of frozen vegetables other than potato and corn from Myanmar expanded notably to X tons, with an increase of 10% compared with the year before. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 266%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of frozen vegetables other than potato and corn surged to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 750% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Japan (X tons) was the main destination for exports of frozen vegetables other than potato and corn from Myanmar, accounting for a 73% share of total exports. Moreover, exports of frozen vegetables other than potato and corn to Japan exceeded the volume sent to the second major destination, Qatar (X tons), eightfold. Kuwait (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +85.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+5.1% per year) and Kuwait (+19.4% per year).

In value terms, Japan ($X) remains the key foreign market for frozen vegetables other than potato and corn exports from Myanmar, comprising 71% of total exports. The second position in the ranking was taken by Qatar ($X), with a 6.8% share of total exports. It was followed by Kuwait, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at +95.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+18.5% per year) and Kuwait (+30.5% per year).

Export Prices by Country

In 2022, the average export price for frozen vegetables other than potato and corn amounted to $X per ton, increasing by 15% against the previous year. Overall, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2018 an increase of 132% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Vegetables other than Potato and Corn

Imports into Myanmar

In 2022, overseas purchases of frozen vegetables other than potato and corn were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 2,673%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of frozen vegetables other than potato and corn surged to $X in 2022. In general, imports posted a pronounced increase. The pace of growth appeared the most rapid in 2016 with an increase of 1,374%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Thailand (X tons), China (X tons) and India (X tons) were the main suppliers of imports of frozen vegetables other than potato and corn to Myanmar, together accounting for 70% of total imports. Belgium, the Netherlands and Singapore lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +41.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Thailand ($X) and China ($X) constituted the largest frozen vegetables other than potato and corn suppliers to Myanmar, together accounting for 83% of total imports. India, the Netherlands and Singapore lagged somewhat behind, together accounting for a further 13%.

The Netherlands, with a CAGR of +50.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for frozen vegetables other than potato and corn amounted to $X per ton, reducing by -31.3% against the previous year. Over the period under review, the import price recorded a perceptible shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 104% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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