Economic growth and an expanding urban middle class supported strong growth in sales of snacks for much of the review period, although low disposable incomes in rural areas hinder demand and many consumers save their money for basic essentials. Since 2020, the industry has been suffering due to the COVID-19 pandemic and the military coup.
The COVID-19 pandemic and the coup acted as a major restraint on snacks sales throughout most of 2020, partly due to supply chain disruptions. Consumption declined due to lockdowns resulting in fewer consumption occasions, while the majority of consumers reduced spending on snacks in order to focus on essential groceries.
In 2022, savoury snacks and sweet biscuits remain the most popular categories within snacks in Myanmar. These categories appeal to a wide range of consumers regardless of age, gender, income levels and geographical regions.
The World Bank projected Myanmar’s economic growth to be 1% in 2022 overall which reflects the recent struggling economy which is slowly starting to recover. The economy is approximately around 30% less than it should have been if the pandemic and military coup had not taken place.
Since early 2022, Myanmar has been experiencing frequent power cuts, which means snack manufacturers and factories have had to use generators to prevent disruptions. Meanwhile, increasing fuel prices and the inflation of raw materials are resulting in many manufacturers to increase operation costs and see lower profit margins.
Even though COVID-19 cases have been decreasing in 2021 and 2022, the recovery of snacks sales is uncertain. Following on from the heavy economic impact of the pandemic was the major political crisis brought about by the military coup.
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Understand the latest market trends and future growth opportunities for the Snacks 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.
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Snacks
This report originates from Passport, our Snacks research and analysis database.
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