Juices - Myanmar

The Juices market in Myanmar has experienced significant growth in recent years, driven by changing consumer preferences and local special circumstances.

Customer preferences: In Myanmar, there has been a growing trend towards healthier lifestyles and a greater emphasis on wellness. As a result, consumers are increasingly seeking out healthier beverage options, such as juices. This is particularly true among the younger generation, who are more health-conscious and willing to spend on premium products. Additionally, there is a rising awareness of the health benefits of consuming fruits and vegetables, which has further fueled the demand for juices in Myanmar.

Trends in the market: One of the key trends in the Juices market in Myanmar is the increasing popularity of natural and organic juices. Consumers are becoming more discerning about the ingredients in their beverages and are actively seeking out products that are free from artificial additives and preservatives. This has led to a rise in the demand for juices made from locally sourced fruits and vegetables, as well as those that are certified organic. Another trend in the market is the growing popularity of functional juices. These are juices that are fortified with vitamins, minerals, and other beneficial ingredients to provide specific health benefits. Functional juices are particularly appealing to consumers who are looking for convenient ways to improve their health and well-being. This trend is expected to continue as consumers become more aware of the potential health benefits of functional ingredients.

Local special circumstances: Myanmar is a country with a rich agricultural heritage, known for its diverse range of fruits and vegetables. This abundance of local produce has created opportunities for the development of the Juices market. Local juice producers have been able to capitalize on this by sourcing their ingredients locally, thereby supporting local farmers and reducing transportation costs. This has also allowed them to offer a wide variety of flavors and unique blends that cater to the preferences of the local market.

Underlying macroeconomic factors: The growing Juices market in Myanmar is also influenced by underlying macroeconomic factors. The country has experienced significant economic growth in recent years, resulting in a rise in disposable incomes and an expanding middle class. This has increased consumer purchasing power and affordability, making juices more accessible to a larger segment of the population. Furthermore, urbanization and changing lifestyles have also contributed to the growth of the Juices market. As more people move to cities and adopt busier lifestyles, there is a greater demand for convenient and ready-to-drink beverages. Juices provide a convenient and healthy option for consumers on-the-go, making them a popular choice in urban areas. In conclusion, the Juices market in Myanmar is experiencing growth due to changing consumer preferences towards healthier options, the popularity of natural and organic products, and the availability of a wide variety of locally sourced ingredients. The market is also influenced by underlying macroeconomic factors such as rising disposable incomes and urbanization. As consumer awareness and demand for healthier beverages continue to grow, the Juices market in Myanmar is expected to further expand in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.