Myanmar Packaging Market Size

Myanmar Packaging Market Analysis

The market for Myanmar packaging is expected to grow at a CAGR of 5% during the forecast period 2021 - 2026. Increasing demand from the end-user industries such as food, beverage as well as House Hold Chemicals is driving the market growth.

• Myanmar gains an advantage from its strategic location between the two biggest emerging markets in the world: India and China. With low minimum wages of approximately USD 3.60 daily, tax incentives and Special Economic Zone benefits, the region has become an attractive destination for manufacturers of products such as garments, value-added Production of Food and beverages.
• Myanmar agriculture industry contributes 30% of national GDP, witnessed an increase in exports of fresh produce. According to the Ministry of Commerce, Myanmar's exports of agricultural products between 1st October and 3rd April in the 2019-2020 financial year have risen to USD 2.16 billion from USD 1.75 billion in the corresponding period of the 2018-2019 Financial Year, an increase of USD 406 million. This will likely promote investment in packaging and logistics industry related to agriculture paper and paperboard packaging.
• The E-commerce industry in Myanmar is at the budding stage. Internet penetration is primarily driven via smartphones while nearly 40 million of the country's total population use mobile phone and approx 80 percent have access to smartphones,with increasing internet penetration, growing middle-class population across the country along with government efforts like the formation of Digital Economy Development Committee (DEDC) to boost the digital economy, will accelerate e-commerce growth across the country and support corrugated packaging primarily use in the e-commerce industry.
• Customs duty is zero for all the goods to be exported from Myanmar as well as zero import duty in various countries makes it an attractive place for setting manufacturing plants for global players in the packaging industry.