Myanmar Fats and Oils Market | Growth, Analysis, Industry, Value, COVID-19 IMPACT, Forecast, Companies, Share, Size, Outlook, Revenue & Trends

Myanmar Fats and Oils Market Synopsis

The Fats & Oils market in Myanmar is poised to grow at a CAGR of 7.4% over the forecast period. The deceleration in growth is due to the short-term disruption caused by COVID-19 pandemic as demand for edible oils has been reduced significantly across all foodservice outlets in the country owing to closure of restaurants, hotels, and other eating establishments. However, steady growth is expected from 2021 onwards as recovery begins after the pandemic subsides.

Drivers of the Market

Rising Consumption of Edible Oil - Growing population coupled with changing dietary habits have resulted in an increase in consumption of edible oil products such as cooking oil. This trend will continue during the forecast period driving up sales volumes for fats & oils manufacturers operating within Myanmar markets. Increasing penetration of modern retail formats - Increasing presence of supermarkets and hypermarkets are driving demand for packaged edible oils which offer convenience along with safety benefits compared conventional unbranded products available through traditional channels such as street vendors or village stores.

Challenges of the Market

Low awareness regarding health benefits associated with different types of fats & oils - Consumers lack understanding about nutritional value provided by different types of fats & oils thus making it difficult for companies engaged within this industry to differentiate their product offerings based on health benefits related factors instead relying upon price points alone while marketing their offerings among target consumers . Fluctuations between international prices and local currency exchange rates - Myanmar`s economy remains largely dependent upon exports although recent political reforms have meant foreign investments into country???s infrastructure have increased significantly however volatility rate between international prices against local kyat continues remain high causing problems when forecasting profits margins for companies operating within this sector .

Key Players of the Market

Companies operating within Myanmmar fats &Oils market include Aye Thar Yar Industrial Co., Ltd., Mandalay Golden Wing Trading Co., Ltd., Royal Max Group Of Companies (Asia Pacific), Thanlwin Foodstuff Processing Factory Co.,Ltd , Soon Hup Technology Resources Berhad amongst others who together account over 80% share collectively within domestic market landscape.

Covid-19 Impact on the Market

The Covid-19 pandemic has had a significant impact on the Myanmar fats and oils market. The closure of restaurants, hotels, cafes and other food service outlets due to lockdowns has led to a decline in demand for cooking oils used in their preparation. In addition, restrictions on movement have also impacted the supply of raw materials needed for oil production such as vegetable seeds and nuts. This has resulted in an overall decrease in production which is likely to persist until consumer confidence returns post Covid-19. Furthermore, export activity related to fats and oils is likely to be affected by the economic downturn caused by coronavirus at both regional and international markets, reducing income opportunities from foreign sales.

Key Highlights of the Report:

• Myanmar Fats and Oils Market Outlook
• Market Size of Myanmar Fats and Oils Market, 2021
• Forecast of Myanmar Fats and Oils Market, 2028
• Historical Data and Forecast of Myanmar Fats and Oils Revenues & Volume for the Period 2018 - 2028
• Myanmar Fats and Oils Market Trend Evolution
• Myanmar Fats and Oils Market Drivers and Challenges
• Myanmar Fats and Oils Price Trends
• Myanmar Fats and Oils Porter's Five Forces
• Myanmar Fats and Oils Industry Life Cycle
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Type for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Oil Type for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Fat Type for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Food Applications for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Industrial Applications for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Source for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Vegetable for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Animal for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Sales Channel for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Direct Sales for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Supermarkets and Hypermarkets for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Retail Stores for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Online Stores for the Period 2018 - 2028
• Historical Data and Forecast of Myanmar Fats and Oils Market Revenues & Volume By Others for the Period 2018 - 2028
• Myanmar Fats and Oils Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Source
• Market Opportunity Assessment By Sales Channel
• Myanmar Fats and Oils Top Companies Market Share
• Myanmar Fats and Oils Competitive Benchmarking By Technical and Operational Parameters
• Myanmar Fats and Oils Company Profiles
• Myanmar Fats and Oils Key Strategic Recommendations