Staple Foods in Bangladesh

Staple Foods in Bangladesh
Euromonitor International
November 2022
STAPLE FOODS IN BANGLADESH Passport i
LIST OF CONTENTS AND TABLES

EXECUTIVE SUMMARY .............................................................................................................. 1
Staple foods in 2022: The big picture ....................................................................................... 1
Country background ................................................................................................................. 1
Socioeconomic trends .............................................................................................................. 3
Logistics/infrastructure .............................................................................................................. 3
What next for staple foods? ...................................................................................................... 4
Chart 1 Staple Foods: Modern Grocery Retailer ....................................................... 4
MARKET DATA ............................................................................................................................ 8
Table 1 Sales of Staple Foods by Category: Volume 2017-2022 .............................. 8
Table 2 Sales of Staple Foods by Category: Value 2017-2022 ................................. 9
Table 3 Sales of Staple Foods by Category: % Volume Growth 2017-2022 ............. 9
Table 4 Sales of Staple Foods by Category: % Value Growth 2017-2022 ................ 9
Table 5 NBO Company Shares of Staple Foods: % Value 2018-2022 ..................... 9
Table 6 LBN Brand Shares of Staple Foods: % Value 2019-2022 .......................... 10
Table 7 Distribution of Staple Foods by Format: % Value 2017-2022 ..................... 10
Table 8 Forecast Sales of Staple Foods by Category: Volume 2022-2027 ............. 11
Table 9 Forecast Sales of Staple Foods by Category: Value 2022-2027 ................ 11
Table 10 Forecast Sales of Staple Foods by Category: % Volume Growth
2022-2027 .................................................................................................. 12
Table 11 Forecast Sales of Staple Foods by Category: % Value Growth 2022-
2027 ........................................................................................................... 12
DISCLAIMER ............................................................................................................................. 12
BAKED GOODS ......................................................................................................................... 12
2022 Developments ................................................................................................................ 13
Prospects and Opportunities .................................................................................................. 14
Category Data ........................................................................................................................ 14
Table 12 Sales of Baked Goods by Category: Volume 2017-2022 ........................... 14
Table 13 Sales of Baked Goods by Category: Value 2017-2022 .............................. 15
Table 14 Sales of Baked Goods by Category: % Volume Growth 2017-2022 .......... 15
Table 15 Sales of Baked Goods by Category: % Value Growth 2017-2022 ............. 16
Table 16 NBO Company Shares of Baked Goods: % Value2018-2022 .................... 16
Table 17 LBN Brand Shares of Baked Goods: % Value 2019-2022 ......................... 16
Table 18 Forecast Sales of Baked Goods by Category: Volume 2022-2027 ............ 17
Table 19 Forecast Sales of Baked Goods by Category: Value 2022-2027 ............... 17
Table 20 Forecast Sales of Baked Goods by Category: % Volume Growth
2022-2027 .................................................................................................. 18
Table 21 Forecast Sales of Baked Goods by Category: % Value Growth 2022-
2027 ........................................................................................................... 18
BREAKFAST CEREALS ............................................................................................................ 19
2022 Developments ................................................................................................................ 19
Category Data ........................................................................................................................ 20
Table 22 Sales of Breakfast Cereals by Category: Volume 2017-2022 .................... 20
© Euromonitor International
STAPLE FOODS IN BANGLADESH Passport ii
Table 23 Sales of Breakfast Cereals by Category: Value 2017-2022 ....................... 20

Table 24 Sales of Breakfast Cereals by Category: % Volume Growth 2017-
2022 ........................................................................................................... 21
Table 25 Sales of Breakfast Cereals by Category: % Value Growth 2017-2022 ....... 21
Table 26 NBO Company Shares of Breakfast Cereals: % Value2018-2022 ............. 21
Table 27 LBN Brand Shares of Breakfast Cereals: % Value2019-2022.................... 21
Table 28 Forecast Sales of Breakfast Cereals by Category: Volume 2022-2027...... 22
Table 29 Forecast Sales of Breakfast Cereals by Category: Value 2022-2027 ........ 22
Table 30 Forecast Sales of Breakfast Cereals by Category: % Volume Growth
2022-2027 .................................................................................................. 22
Table 31 Forecast Sales of Breakfast Cereals by Category: % Value Growth
2022-2027 .................................................................................................. 23
PROCESSED MEAT, SEAFOOD AND ALTERNATIVES TO MEAT ......................................... 23
2022 Developments ................................................................................................................ 23
Category Data ........................................................................................................................ 25
Table 32 Sales of Processed Meat, Seafood and Alternatives to Meat by
Category: Volume 2017-2022 .................................................................... 25
Category: Value 2017-2022 ....................................................................... 26
Category: % Volume Growth 2017-2022.................................................... 26
Category: % Value Growth 2017-2022....................................................... 27
Table 36 NBO Company Shares of Processed Meat, Seafood and Alternatives
to Meat: % Value 2018-2022 ...................................................................... 27
Table 37 LBN Brand Shares of Processed Meat, Seafood and Alternatives to
Meat: % Value 2019-2022 .......................................................................... 28
Table 38 Forecast Sales of Processed Meat, Seafood and Alternatives to Meat
by Category: Volume 2022-2027................................................................ 28
by Category: Value 2022-2027................................................................... 29
by Category: Value 2022-2027................................................................... 29
by Category: % Volume Growth 2022-2027 ............................................... 30
by Category: % Value Growth 2022-2027 .................................................. 31
PROCESSED FRUIT AND VEGETABLES ................................................................................ 31
2022 Developments ................................................................................................................ 31
Category Data ........................................................................................................................ 32
Table 43 Sales of Processed Fruit and Vegetables by Category: Volume 2017-
2022 ........................................................................................................... 32
Table 44 Sales of Processed Fruit and Vegetables by Category: Value 2017-
2022 ........................................................................................................... 33
Table 45 Sales of Processed Fruit and Vegetables by Category: % Volume
Growth 2017-2022 ..................................................................................... 33
STAPLE FOODS IN BANGLADESH Passport iii
Table 46 Sales of Processed Fruit and Vegetables by Category: % Value

Growth 2017-2022 ..................................................................................... 34
Table 47 NBO Company Shares of Processed Fruit and Vegetables: % Value
2018-2022 .................................................................................................. 34
Table 48 LBN Brand Shares of Processed Fruit and Vegetables: % Value
2019-2022 .................................................................................................. 34
Table 49 Forecast Sales of Processed Fruit and Vegetables by Category:
Volume 2022-2027 ..................................................................................... 34
Table 50 Forecast Sales of Processed Fruit and Vegetables by Category:
Value 2022-2027 ........................................................................................ 35
Table 51 Forecast Sales of Processed Fruit and Vegetables by Category: %
Volume Growth 2022-2027 ........................................................................ 35
Table 52 Forecast Sales of Processed Fruit and Vegetables by Category: %
Value Growth 2022-2027 ........................................................................... 36
RICE, PASTA AND NOODLES .................................................................................................. 36
2022 Developments ................................................................................................................ 36
Category Data ........................................................................................................................ 38
Table 53 Sales of Rice, Pasta and Noodles by Category: Volume 2017-2022 ......... 38
Table 54 Sales of Rice, Pasta and Noodles by Category: Value 2017-2022 ............ 38
Table 55 Sales of Rice, Pasta and Noodles by Category: % Volume Growth
2017-2022 .................................................................................................. 38
Table 56 Sales of Rice, Pasta and Noodles by Category: % Value Growth
2017-2022 .................................................................................................. 39
Table 57 NBO Company Shares of Rice, Pasta and Noodles: % Value 2018-
2022 ........................................................................................................... 39
Table 58 LBN Brand Shares of Rice, Pasta and Noodles: % Value 2019-2022 ........ 39
Table 59 Forecast Sales of Rice, Pasta and Noodles by Category: Volume
2022-2027 .................................................................................................. 40
Table 60 Forecast Sales of Rice, Pasta and Noodles by Category: Value 2022-
2027 ........................................................................................................... 40
Table 61 Forecast Sales of Rice, Pasta and Noodles by Category: % Volume
Growth 2022-2027 ..................................................................................... 40
Table 62 Forecast Sales of Rice, Pasta and Noodles by Category: % Value
Growth 2022-2027 ..................................................................................... 41
STAPLE FOODS IN BANGLADESH Passport 1
STAPLE FOODS IN BANGLADESH

EXECUTIVE SUMMARY
In 2022, staple foods is no longer feeling the negative impact of the COVID-19 pandemic,
however, the industry now faces new challenges due to the global inflation and fuel shortages.
Despite this affecting consumers to economise, the category will perform better than in 2020
and 2021 due to the recovery of the pandemic. Rice dominates retail value sales in this
category, and it remained one of the most dynamic categories in staple foods throughout the
review period, with demand steadily shifting from unpackaged to packaged offerings.
Staple foods in 2022: The big picture

▪ In 2022, the COVID-19 pandemic is having less of an impact on staple foods in Bangladesh
which is having a positive impact on demand as consumers return to normal. The full
reopening of the foodservice industry is especially having a positive impact for on-trade sales.
▪ However, the industry now faces a set of new challenges due to the global inflation rates and
fuel shortages. As a result, the country is witnessing extortionate prices hikes, currency
devaluation, and foreign remittance decline. As a result, many consumers are now struggling
and are forced to economise. Unnecessary spending has declined and many are also trying
to eat at home where possible, instead of eating out.
▪ Throughout 2022, the price of items have increased several times, and at one point, India
stopped exporting wheat and flour. This caused prices to rocket as wheat and flour are the
main raw ingredients for many staple food products. At the time of writing, prices have
increased by around 32%.
▪ Overall in 2022, current value sales have recovered from the pandemic due to the inflated
prices, however, in volume terms, demand is not as strong as it should be.
▪ Rice dominates retail volume sales of staple foods in Bangladesh, with bread accounting for
most of the remainder. Rice is by far the most important foodstuff in Bangladesh, and it would
be difficult for most people in Bangladesh to conceive of a meal without rice. In rural areas, it
is not unusual for people to eat rice three times a day.
▪ Data compiled by the Asian Development Bank suggest that as much as 80% of rice sold in
Bangladesh is unpackaged. However, demand is slowly shifting towards packaged rice,
especially in urban areas, where the higher cost of packaged rice is more easily absorbed by
local consumers. Packaged rice is regarded as more hygienic and also more trustworthy in
terms of provenance and accountability in the supply chain.
Country background
▪ Most people eat three meals a day, which includes breakfast, lunch and dinner, taking
breakfast at around 08.00hrs, lunch at around 14.00hrs and dinner at around 22.00hrs.
▪ A common breakfast is panta bhat, which is plain boiled rice that is soaked overnight and then
mixed with salt, onion and chilli (either green or fried dry ones). Other common breakfast
items that are popular in rural areas include muri (puffed rice) and chira (flattened rice). These
are eaten with milk, yoghurt, seasonal fruits or gur (a crude form of sugar). Many people in
Bangladesh also eat baked bread and mixed vegetables, as well as eggs and various kinds of
meat for breakfast, which they consume with a cup of tea. For lunch and dinner most
consumers eat rice with different varieties of curry, although some consumers also eat soup
and noodles.
▪ Lunch is the main meal for Bangladeshis, with it largely consisting of rice, along with different
kinds of sautéed or fried vegetables with green or fried chilli and other spices, which they
serve with several kinds of curry (fish or meat). Dal (lentil) soup is also a common dish for
lunch and dinner, with it being a key staple in the Bangladeshi diet. Ingredients such as
ground ginger, garlic, onion, cumin, chili pepper pastes and fennel seed are added to this
traditional meal. Almost all Bangladeshis eat these same foods for dinner. Dudvat (milk and
rice) is a very common dessert, which is eaten with seasonal fruits like mango, banana, jack
fruit, or just with gur.
▪ Rice, ruti (an unleavened whole wheat bread), fish and meat, various fresh fruit and
vegetables, lentils and spices, edible oils, milk and other dairy products, eggs and bread are
all considered essential food products in Bangladesh.
▪ Bangladeshis eat boiled rice as their main staple food, with about 85% of what they eat being
based on rice, which is their main source of carbohydrates, although more health-conscious
people eat ruti or chapati (wheat-based carbohydrates).
▪ Approximately 86% of Bangladeshis are Muslim. The most important and most common item
eaten for breakfast during the Eid festival is vermicelli. Lunch is the biggest meal during Eid
and people tend to eat a range of main courses with pulao rice (cooked with spices, more
commonly known as pilaf rice) or biryani (rice cooked with chicken or mutton with spices and
condiments). Roast chicken and beef curry with a variety of cakes made with meat and lentils
are also common. Kheer, which is a type of rice pudding, is also an essential food in many
Hindu and Muslim community festivals and at cultural events such as weddings, Eid and Puja.
▪ Snacking is popular in Bangladesh as it can sometimes be a cheaper option to eating a meal
at home. Popular snacks in Bangladesh include fresh fruits such as bananas, mangos, and
jackfruit, as well as puffed rice, and wheat – or flour-based fried items such as singara
(samosa) and puri (flat bread), and noodles. Packaged snacks are also growing in popularity,
with consumers increasingly looking for hygienically prepared food, with children enjoying
potato chips and chocolate confectionery in their lunchboxes.
▪ Bangladesh has one of the lowest obesity rates in the world (4% of adults were obese in
2022, with an additional 17% overweight), although both of these figures are rising, in part
because of rising incomes and greater food security. In urban areas, a rise in childhood
obesity has been attributed to a combination of the increased consumption of calorie-rich
food, with children getting used to fast food and sugary soft drinks, and a lack of exercise.
▪ Simultaneously, Bangladesh has a high rate malnutrition, with large sections of the population
chronically underweight. Various aid charities, such as UNICEF and the UN’s World Food
Programme (WFP), as well as government-led initiatives, have been working to improve the
situation, and despite remaining high, the rate of malnutrition has fallen. This is in part due to
economic development, job availability, increased foreign remittances and improved
education facilities.
▪ A recent study carried out on behalf of the WFP, which involved women taking part in
Bangladesh’s vulnerable group development (VGD) programme, showed positive results
when they were given fortified rice, with a drop in the rate of anaemia and zinc deficiencies.
▪ With rice being the main staple in the country, it is hoped that actions like this will be able to
help address nutritional deficiencies amongst Bangladesh’s population. As well as introducing
fortified rice through the VGD programme, the WFP is also working with the private sector to
support companies introducing commercially available fortified rice that is affordable.
▪ In partnership with UNICEF and NGO’s, the Ministry of Health and Family Welfare and
Ministry of Mass and Primary Education have been working together to facilitate and
strengthen school health education programmes and to improve health and nutrition.
However, health-related education programmes at schools are still being implemented in a
scattered manner without national coverage. Government schools and health clinics do not
generally provide adequate health education and disease prevention due to their low budgets.
▪ Due to the high cost of health and wellness (HW) products, this remains a niche area in the
country, with HW items only affordable to middle- and high-income consumers.
Socioeconomic trends
▪ In 2022, the country has been plunged into a state of panic due to the inflation rates and rising
cost of living. However, staple foods are regarded as a necessity among most consumers,
which means rather than cutting out items, consumers have become more conscious of their
spending and are more inclined to downgrade or limit consumption.
▪ With a falling birth rate and rising life expectancy, Bangladesh’s median age of population is
steadily rising. Likewise, life expectancy has risen from 71 years to 73 years.
▪ Prior to the onset of the pandemic, the Bangladeshi economy had been expanding rapidly,
helping to lift millions out of poverty. The proportion of the population below the international
poverty line of USD3.10/day declined from 23% to 15% between 2016 and 2020.
▪ Bangladesh’s middle class makes up a quarter of the population. This middle-income
population is largely based in urban areas, and although traditional grocery retailers remains
the leading channel for most packaged food products, these wealthier consumers are
attracted to supermarkets and hypermarkets due to the wider choice they offer and their more
stable storage conditions.
▪ Policy reforms and strong economic growth have helped to encourage foreign direct
investment in Bangladesh, with the government also introducing one-stop services and
improving infrastructure.
▪ There is a large informal market in Bangladesh, and lower-income consumers in rural areas
often visit local markets to meet their daily nutritional needs. In terms of fruit and vegetables,
consumers generally buy fresh products over processed options, as the former are cheaper
and more widely available. A large share of the rural population is involved in agricultural
work, which is low paid, while in urban areas many consumers are employed in better paying
industrial work. As a result, retail current value sales of staple foods are significantly stronger
in urban areas, which have greater access to modern grocery retailers, as well as a wider
base of middle- and higher-income consumers.
▪ Urbanisation, population expansion and an anticipated post-pandemic economic rebound will
support robust growth in demand for staple foods throughout the forecast period.
▪ Additionally, increased foreign direct investment is expected to lead to an improvement in the
quality of products on offer and wider distribution.
Logistics/infrastructure
▪ Most consumers still use traditional grocery retailers, outdoor markets and street vendors for
their food shopping, with many lacking access to modern grocery retailers. Even in the capital
city of Dhaka, most people still use traditional grocery retailers. Unlike supermarkets and
hypermarkets, these stores do not pay VAT, which makes them very competitive on price.
▪ Nevertheless, with rapid urbanisation, rising incomes and longer working hours, modern
grocery retailing is become increasingly attractive to younger Bangladeshis in urban areas.
Modern grocery retailing is likely to see rapid growth during the forecast period, as
hypermarkets and supermarkets continue to proliferate.
▪ Bangladesh’s transport network consists of 271,000km of roads, including about 21,000km of
major roads, 2,835km of railways and 3,900km of inland waterways (which increases to
6,000km during the monsoon season). For 12% of rural communities, these waterways are
their only mode of transport. During the rainy season, many rural roads are underwater.
▪ Unplanned urbanisation and residential development is increasing the amount of traffic, which
is contributing to significant congestion on the country’s roads. Despite investments,
Bangladesh’s infrastructure remains inadequate, which limits the reach of both manufacturers
and modern grocery retail chains by driving up transportation costs and leading to supply-
chain disruption.
▪ While almost all Bangladeshi households now have access to electricity, power outages
remain common. Traditional grocery retailers usually do not have fridges or freezers – nor do
lower-income households: 37% of households had a refrigerator in the review period, while
just 6% had a freezer.
▪ Packaged staple foods are available in both urban and rural locations, but sales of some
imported products are limited to urban areas. Premium products are often only available in the
country’s larger cities. Consumers increasingly see packaged food as being of a higher quality
than unpackaged alternatives, which is helping to drive demand growth in both urban and
rural areas.
▪ As part of the government’s plans to boost FDI and encourage economic growth, it is
establishing 88 Economic Zones nationwide. While no more than 40% of the population lived
in urban areas in 2021, there was strong growth in the urban population during the review
period. However, the government is seeking to slow the rate of urbanisation
▪ Some companies are setting up manufacturing facilities and modern equipped warehouses in
regional locations, such as Sylhet, Rangpur, and Rajshahi in order to improve access to their
products.
▪ Furthermore, the government is investing in energy, infrastructure and digitalisation with the
support of Saudi Arabia, Turkey and Qatar, along with the World Bank and the Asian
Infrastructure Investment Bank, among others. All of this investment should help to widen the
distribution of staple foods in Bangladesh.
What next for staple foods?

▪ Over the forecast period, inflation is set to continue which will continue to place pressure on
the average household incomes. However, as staple food is largely regarded as essential
products in Bangladesh, demand will continue, just as consumers will be more conscious with
their spending.
▪ Despite the global economic situation, the middle class will continue rising in Bangladesh.
Likewise, rural expansion will continue, with more brands and products becoming available in
even the most isolated parts of the country.
▪ Demand will continue to shift from unpackaged to packaged offerings, particularly in rice.
▪ Modern grocery retail outlets will continue to grow in importance as a distribution channel for
staple foods at the expense of traditional grocery retailers. However, the latter will remain
dominant due to their ubiquity.
▪ E-commerce will begin to emerge during the forecast period, as the rate of smartphone
ownership continues to rise.
Chart 1 Staple Foods: Modern Grocery Retailer
Source: Euromonitor International
MARKET DATA
Table 1 Sales of Staple Foods by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
Rice, Pasta and Noodles 195.2 225.2 256.7 298.2 341.1 335.7
Processed Meat, Seafood 11.0 12.9 15.1 17.8 20.3 21.5
and Alternatives to Meat
Processed Fruit and 4.3 4.7 5.2 5.2 5.3 5.5
Vegetables
Breakfast Cereals 6.7 7.8 8.9 8.7 9.2 10.1
Baked Goods 221.4 225.2 230.3 236.9 232.4 218.8
Staple Foods 438.6 475.8 516.2 566.8 608.3 591.5
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 2 Sales of Staple Foods by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
Rice, Pasta and Noodles 24,231.4 29,296.5 34,940.6 41,656.8 49,165.9 56,490.5
Processed Meat, Seafood 3,291.3 3,904.3 4,608.5 5,497.2 6,394.2 8,198.0
Processed Fruit and 966.4 1,087.6 1,219.3 1,234.9 1,257.6 1,621.5
Vegetables
Breakfast Cereals 2,021.7 2,355.3 2,728.3 2,724.2 2,975.7 3,911.0
Baked Goods 27,735.9 29,537.3 31,549.5 33,667.2 35,039.2 39,823.6
Staple Foods 58,246.7 66,181.0 75,046.2 84,780.3 94,832.6 110,044.5
Table 3 Sales of Staple Foods by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
Rice, Pasta and Noodles -1.6 11.5 72.0

Processed Meat, Seafood and 6.1 14.3 95.3
Alternatives to Meat
Processed Fruit and Vegetables 3.0 5.1 28.2
Breakfast Cereals 8.8 8.3 49.1
Baked Goods -5.9 -0.2 -1.2
Staple Foods -2.8 6.2 34.9
Table 4 Sales of Staple Foods by Category: % Value Growth 2017-2022
% current value growth

2021/22 2017-22 CAGR 2017/22 Total
Rice, Pasta and Noodles 14.9 18.4 133.1

Baked Goods 13.7 7.5 43.6
Staple Foods 16.0 13.6 88.9
Table 5 NBO Company Shares of Staple Foods: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Pran Foods Ltd 8.3 8.6 8.8 8.8 9.2

Nestlé Bangladesh Ltd 5.4 5.7 5.5 5.6 6.0
Dan Foods Ltd 5.1 5.3 5.4 5.0 5.0
Cocola Food Products Ltd 2.3 2.5 2.6 2.6 2.7
Golden Harvest Agro 1.7 1.8 1.9 1.9 2.1

Industries Ltd
Olympic Industries Ltd 2.1 2.0 1.9 1.8 1.8
BRAC social enterprise 1.0 1.1 1.2 1.2 1.3
Kellogg Co 1.0 1.0 0.9 0.9 1.0
Kazi Farms Ltd 0.7 0.8 0.8 0.9 1.0
Harvest Rich Agro 0.6 0.6 0.6 0.7 0.7
Industries Ltd
Del Monte Pacific Ltd 0.5 0.5 0.5 0.5 0.5
Del Monte Foods Inc 0.4 0.4 0.4 0.3 0.4
Del Monte Foods Co - - - - -
Artisanal 26.8 23.5 21.0 19.0 18.1
Others 44.0 46.2 48.6 50.8 50.2
Total 100.0 100.0 100.0 100.0 100.0
Table 6 LBN Brand Shares of Staple Foods: % Value 2019-2022
% retail value rsp

Brand (GBO) Company (NBO) 2019 2020 2021 2022
Pran (Pran-Rfl Group) Pran Foods Ltd 5.9 6.0 5.9 6.2
Dan Cake (Dan Cake Dan Foods Ltd 5.3 5.4 5.0 5.0
A/S)
Maggi (Nestlé SA) Nestlé Bangladesh Ltd 3.9 4.0 4.1 4.3
Mr Noodles Pran Foods Ltd 2.7 2.8 2.9 3.0
Cocola Cocola Food Products Ltd 2.5 2.6 2.6 2.7
Golden Harvest Golden Harvest Agro 1.8 1.9 1.9 2.1
Industries Ltd
Olympic Olympic Industries Ltd 2.0 1.9 1.8 1.8
Nestlé (Cereal Nestlé Bangladesh Ltd 1.8 1.6 1.5 1.7
Partners Worldwide
SA)
BRAC BRAC social enterprise 1.1 1.2 1.2 1.3
Kazi Farms Kitchen Kazi Farms Ltd 0.8 0.8 0.9 1.0
Rich Harvest Rich Agro 0.6 0.6 0.7 0.7
Industries Ltd
Del Monte Del Monte Pacific Ltd 0.5 0.5 0.5 0.5
S&W (Del Monte Del Monte Foods Inc 0.4 0.4 0.3 0.4
Pacific Ltd)
Del Monte Del Monte Foods Co - - - -
S&W Del Monte Foods Co - - - -
Artisanal Artisanal 23.5 21.0 19.0 18.1
Others Others 47.3 49.5 51.7 51.2
Total Total 100.0 100.0 100.0 100.0
Table 7 Distribution of Staple Foods by Format: % Value 2017-2022
% retail value rsp

2017 2018 2019 2020 2021 2022
Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

- Retail Offline 100.0 100.0 100.0 100.0 100.0 100.0
-- Grocery Retailers 100.0 100.0 100.0 100.0 100.0 100.0
--- Convenience Retail 0.6 0.7 0.7 0.4 0.3 0.5

---- Convenience Stores 0.2 0.3 0.3 0.2 0.2 0.2
---- Forecourt Retailers 0.4 0.4 0.4 0.2 0.1 0.2
--- Supermarkets 6.2 6.4 6.6 6.5 6.5 6.8
--- Hypermarkets 7.2 7.4 7.5 7.4 7.3 7.6
--- Discounters - - - - - -
--- Warehouse Clubs - - - - - -
--- Food/drink/tobacco 28.6 26.8 25.3 24.0 22.4 21.8
specialists
--- Small Local Grocers 57.4 58.7 59.8 61.7 63.5 63.3
-- Non-Grocery Retailers 0.0 0.0 0.0 - - -
--- General Merchandise - - - - - -
Stores
--- Apparel and - - - - - -
Footwear Specialists
--- Appliances and - - - - - -
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery 0.0 0.0 0.0 - - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 8 Forecast Sales of Staple Foods by Category: Volume 2022-2027
'000 tonnes
2022 2023 2024 2025 2026 2027
Vegetables
Baked Goods 218.8 230.9 242.2 244.4 246.2 247.9
Staple Foods 591.5 647.0 699.8 745.1 791.4 838.6
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 9 Forecast Sales of Staple Foods by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026 2027
Processed Fruit and 1,621.5 1,661.9 1,474.0 1,544.1 1,613.5 1,681.7

Vegetables
Baked Goods 39,823.6 39,161.0 36,365.1 36,284.3 36,141.9 35,976.0
Staple Foods 110,044.5 112,377.4 109,108.9 114,217.9 119,189.2 124,014.9
trade sources
Table 10 Forecast Sales of Staple Foods by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-27 CAGR 2022/27 Total

trade sources
Table 11 Forecast Sales of Staple Foods by Category: % Value Growth 2022-2027
% constant value growth

2022/2023 2022-27 CAGR 2022/27 Total

Baked Goods -1.7 -2.0 -9.7
trade sources
DISCLAIMER
Forecast and scenario closing date: 24 October 2022
Report closing date: 7 November 2022
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2022 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.
Market sizes are researched at category level, lower data levels are modelled.
BAKED GOODS
2022 Developments
▪ In 2022, while the COVID-19 pandemic is no longer a threat to baked goods, the industry
faces a new set of problems. With raw materials increasing in price by a staggering 100-
120%, companies have either had to inflate their prices or reduce their quantities. With that
being said, the category is performing much better than it was in 2020 and 2021, due to the
full reopening of the economy and easing of restrictions. In fact, some even categories are
performing well such as packaged bread, which is becoming popular for breakfast, snacking,
and alongside meals.
▪ Bread is quite popular in Bangladesh and unpackaged leavened bread is the most common
type of bread in retail outlets. However, packaged leavened bread has grown in popularity
throughout the review period, with the pandemic serving to accelerate this trend by raising
local awareness of the importance of hygiene.
▪ There are numerous different types of flatbread which are prominent in Bengali cuisine,
including naan, paratha, luchi, bakhorkani, roti and chatai pitha, but it is very uncommon for
these types of bread to be purchased through retail channels. Instead, they are usually
prepared at home and served fresh or purchased in a prepared format from street food
vendors.
▪ Packaged cakes have limited popularity in Bangladesh, especially in rural areas. Packaged
cakes face competition from artisanal cakes, while the huge numbers of people who make
their cakes at home is also an obstacle to growth. Meanwhile, unpackaged cake sales
continue to grow in both rural and urban areas as this is a popular snack. Such items are also
very popular for on-the-go and they are also affordable. Although it is much less common for
pastries to be made at home, these are not commonly consumed by the majority of the
population and sales are also low.
▪ Bread and pastries are commonly eaten for breakfast and as snacks, especially roti and
paratha, while cakes are usually eaten as snacks. Larger cakes are often purchased for
special occasions such as birthdays or New Year celebrations. Flavours such as lemon are
very popular.
▪ Sales of packaged baked goods are concentrated in urban areas, where the consumer base
is considerably more sophisticated and where it is more likely that people can afford to
purchase these products more regularly. Companies are also making efforts to drive interest
by providing new flavours and packaging types, such as single-portion options, with the
promise of convenience being a key driver of growth for packaged baked goods. Leavened
bread is not considered to be an essential part of the diet for most people and demand is
generally limited to more affluent households.
▪ The underdeveloped state of modern retailing in Bangladesh means that sales of baked
goods remain dominated by traditional grocery retailers such as independent small grocers,
open markets and bakeries (listed under food/drink/tobacco specialists). Shopping habits
favour traditional channels as location and accessibility is an important factor determining
where to shop for bread and other baked goods.
▪ With sales of baked goods dominated by artisanal and unbranded products there are only a
few branded players with a significant share of retail value sales. Leader Pran Foods
continues to invest in new product development and in expanding its distribution, with the
company introducing new cakes under its Wonder brand during review period.
▪ Second-placed Dan Cake entered Bangladesh in 2015. As part of its marketing efforts. it
launched Dan Cake Dessert Genius in 2018, which is a television show in which ‘dessert
geniuses’ from around the country get to showcase their talents, helping to raise awareness
of the brand. The company offers a wide range of high-quality cakes, including packaged
individual slices of cake.
▪ Third-placed Olympic Industries Ltd offers a wide range of biscuits and cakes under its
Olympic brand, which is popular due to its high quality.
▪ Investments within baked goods are increasing, and since the outbreak of COVID-19, a new
factory has been opened. Fresh by Meghna group has opened a new factor, thanks to
investments from others. Likewise, Akij group and Olympic have also invested into the
industry. This is set to bring in new innovations over the forecast period.
▪ In recent years, product variety has grown in Bangladesh and more and more flavours are
now available.
Prospects and Opportunities

▪ Over the forecast period, baked good will continue to face ongoing inflation which will result in
more consumers economising and trading to more affordable products.
▪ In leavened bread, retail volume sales of packaged products will overtake those of
unpackaged ones.
▪ Modern grocery retail outlets will once again begin to eat into the retail value sales of
traditional grocery retailers, as the number of supermarkets and hypermarkets in the country
continues to expand.
Category Data
Table 12 Sales of Baked Goods by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
- Frozen Cakes, Sweet - - - - - -

Pies and Tarts
- Sweet Pies and Tarts - - - - - -
Dessert Pies and Tarts - - - - - -
- Unpackaged Pastries 19.9 19.4 19.0 18.0 16.9 15.3
- Packaged Pastries 1.1 1.2 1.2 1.3 1.2 1.2
Pastries 21.0 20.5 20.2 19.3 18.2 16.5
Frozen Baked Goods - - - - - -
Dessert Mixes 1.2 1.3 1.4 1.5 1.6 1.5
- Unpackaged Cakes 7.0 6.9 6.8 6.5 6.2 5.5
- Packaged Cakes 22.5 24.7 27.1 28.9 28.0 28.0
Cakes 29.5 31.5 33.9 35.4 34.2 33.5
-- Unpackaged Leavened 100.7 99.2 97.9 96.9 94.9 85.5
Bread
-- Packaged Leavened 69.0 72.7 77.0 83.9 83.5 81.8
Bread
- Leavened Bread 169.7 171.8 174.9 180.8 178.5 167.4
-- Unpackaged Flat Bread - - - - - -
-- Packaged Flat Bread - - - - - -
- Flat Bread - - - - - -
Bread 169.7 171.8 174.9 180.8 178.5 167.4
Baked Goods 221.4 225.2 230.3 236.9 232.4 218.8
Table 13 Sales of Baked Goods by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
- Frozen Cakes, Sweet - - - - - -

Pies and Tarts
- Sweet Pies and Tarts - - - - - -
Dessert Pies and Tarts - - - - - -
- Unpackaged Pastries 2,927.2 2,952.9 2,957.8 2,869.1 2,763.8 3,026.9
- Packaged Pastries 274.0 285.0 297.8 315.9 325.3 373.2
Pastries 3,201.2 3,237.9 3,255.7 3,185.0 3,089.2 3,400.1
Frozen Baked Goods - - - - - -
Dessert Mixes 413.7 455.9 500.9 516.0 564.8 646.1
- Unpackaged Cakes 1,573.4 1,600.9 1,619.4 1,603.2 1,635.2 1,737.4
- Packaged Cakes 5,909.8 6,713.5 7,653.4 8,426.5 8,763.6 10,377.2
Cakes 7,483.2 8,314.5 9,272.8 10,029.7 10,398.8 12,114.6
-- Unpackaged Leavened 8,355.4 8,464.6 8,549.2 8,642.1 8,901.3 9,611.7
Bread
-- Packaged Leavened 8,282.5 9,064.4 9,970.9 11,294.5 12,085.1 14,051.1
Bread
- Leavened Bread 16,637.9 17,529.0 18,520.1 19,936.5 20,986.4 23,662.7
-- Unpackaged Flat Bread - - - - - -
-- Packaged Flat Bread - - - - - -
- Flat Bread - - - - - -
Bread 16,637.9 17,529.0 18,520.1 19,936.5 20,986.4 23,662.7
Baked Goods 27,735.9 29,537.3 31,549.5 33,667.2 35,039.2 39,823.6
Table 14 Sales of Baked Goods by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
- Frozen Cakes, Sweet Pies and Tarts - - -

- Sweet Pies and Tarts - - -
Dessert Pies and Tarts - - -
- Unpackaged Pastries -9.9 -5.1 -23.1
- Packaged Pastries -3.4 1.1 5.5
Pastries -9.5 -4.8 -21.6
Frozen Baked Goods - - -
Dessert Mixes -4.8 4.8 26.4
- Unpackaged Cakes -10.8 -4.6 -21.1
- Packaged Cakes -0.2 4.4 24.2
Cakes -2.1 2.6 13.5
-- Unpackaged Leavened Bread -9.9 -3.2 -15.1
-- Packaged Leavened Bread -2.0 3.5 18.5
- Leavened Bread -6.2 -0.3 -1.4
-- Unpackaged Flat Bread - - -
-- Packaged Flat Bread - - -
- Flat Bread - - -
Bread -6.2 -0.3 -1.4
Baked Goods -5.9 -0.2 -1.2
Table 15 Sales of Baked Goods by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total

- Unpackaged Pastries 9.5 0.7 3.4
- Packaged Pastries 14.7 6.4 36.2
Pastries 10.1 1.2 6.2
Dessert Mixes 14.4 9.3 56.2
- Unpackaged Cakes 6.2 2.0 10.4
- Packaged Cakes 18.4 11.9 75.6
Cakes 16.5 10.1 61.9
-- Unpackaged Leavened Bread 8.0 2.8 15.0
-- Packaged Leavened Bread 16.3 11.2 69.6
- Leavened Bread 12.8 7.3 42.2
- Flat Bread - - -
Bread 12.8 7.3 42.2
Table 16 NBO Company Shares of Baked Goods: % Value2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Pran Foods Ltd 13.0 14.0 15.0 16.0 17.0

Dan Foods Ltd 11.5 12.5 13.5 13.5 13.7
Olympic Industries Ltd 4.8 4.8 4.8 4.8 4.9
Artisanal 60.0 56.0 53.0 51.5 50.0
Others 10.7 12.7 13.7 14.2 14.4
Total 100.0 100.0 100.0 100.0 100.0
Table 17 LBN Brand Shares of Baked Goods: % Value 2019-2022
% retail value rsp

Pran (Pran-Rfl Group) Pran Foods Ltd 14.0 15.0 16.0 17.0
Dan Cake (Dan Cake Dan Foods Ltd 12.5 13.5 13.5 13.7
A/S)
Olympic Olympic Industries Ltd 4.8 4.8 4.8 4.9
Artisanal Artisanal 56.0 53.0 51.5 50.0
Others Others 12.7 13.7 14.2 14.4
Total Total 100.0 100.0 100.0 100.0
Table 18 Forecast Sales of Baked Goods by Category: Volume 2022-2027
'000 tonnes
2022 2023 2024 2025 2026
- Frozen Cakes, Sweet - - - - -

Pies and Tarts
- Sweet Pies and Tarts - - - - -
Dessert Pies and Tarts - - - - -
- Unpackaged Pastries 15.3 15.6 15.9 15.6 15.4
- Packaged Pastries 1.2 1.3 1.4 1.4 1.4
Pastries 16.5 16.9 17.3 17.0 16.8
Frozen Baked Goods - - - - -
Dessert Mixes 1.5 1.7 1.9 2.0 2.1
- Unpackaged Cakes 5.5 5.5 5.5 5.2 5.0
- Packaged Cakes 28.0 31.2 34.5 36.5 38.6
Cakes 33.5 36.7 40.0 41.8 43.6
-- Unpackaged Leavened 85.5 86.5 86.9 84.0 81.0
Bread
-- Packaged Leavened 81.8 89.1 96.2 99.6 102.8
Bread
- Leavened Bread 167.4 175.7 183.1 183.6 183.7
-- Unpackaged Flat Bread - - - - -
-- Packaged Flat Bread - - - - -
- Flat Bread - - - - -
Bread 167.4 175.7 183.1 183.6 183.7
Baked Goods 218.8 230.9 242.2 244.4 246.2
trade sources
Table 19 Forecast Sales of Baked Goods by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026
- Frozen Cakes, Sweet - - - - -

Pies and Tarts
- Sweet Pies and Tarts - - - - -
Dessert Pies and Tarts - - - - -
- Unpackaged Pastries 3,026.9 2,823.5 2,504.5 2,401.9 2,307.7
- Packaged Pastries 373.2 364.2 333.2 327.3 321.1
Pastries 3,400.1 3,187.7 2,837.7 2,729.2 2,628.8
Frozen Baked Goods - - - - -
Dessert Mixes 646.1 653.5 622.1 634.6 644.1
- Unpackaged Cakes 1,737.4 1,602.7 1,395.7 1,305.9 1,219.0
- Packaged Cakes 10,377.2 10,652.7 10,293.6 10,656.3 10,977.2
Cakes 12,114.6 12,255.4 11,689.3 11,962.2 12,196.2
-- Unpackaged Leavened 9,611.7 8,919.9 7,813.2 7,352.0 6,902.8
Bread
-- Packaged Leavened 14,051.1 14,144.4 13,402.8 13,606.4 13,770.0
Bread
- Leavened Bread 23,662.7 23,064.4 21,216.0 20,958.4 20,672.8
-- Unpackaged Flat Bread - - - - -
-- Packaged Flat Bread - - - - -
- Flat Bread - - - - -
Bread 23,662.7 23,064.4 21,216.0 20,958.4 20,672.8
Baked Goods 39,823.6 39,161.0 36,365.1 36,284.3 36,141.9
trade sources
Table 20 Forecast Sales of Baked Goods by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-26 CAGR 2022/26 Total

- Unpackaged Pastries 2.2 0.3 1.0
- Packaged Pastries 7.4 4.3 18.3
Pastries 2.6 0.6 2.3
Dessert Mixes 12.1 8.9 40.5
- Unpackaged Cakes 0.1 -2.5 -9.5
Cakes 9.7 6.8 30.1
-- Unpackaged Leavened Bread 1.1 -1.4 -5.4
-- Packaged Leavened Bread 9.0 5.9 25.6
- Leavened Bread 5.0 2.4 9.8
- Flat Bread - - -
Bread 5.0 2.4 9.8
trade sources
Table 21 Forecast Sales of Baked Goods by Category: % Value Growth 2022-2027

2022/2023 2022-26 CAGR 2022/26 Total

- Unpackaged Pastries -6.7 -6.6 -23.8
- Packaged Pastries -2.4 -3.7 -13.9
Pastries -6.2 -6.2 -22.7
Dessert Mixes 1.1 -0.1 -0.3
- Unpackaged Cakes -7.8 -8.5 -29.8
Cakes 1.2 0.2 0.7
-- Unpackaged Leavened Bread -7.2 -7.9 -28.2
-- Packaged Leavened Bread 0.7 -0.5 -2.0
- Leavened Bread -2.5 -3.3 -12.6
- Flat Bread - - -
Bread -2.5 -3.3 -12.6
Baked Goods -1.7 -2.4 -9.2
trade sources
BREAKFAST CEREALS
2022 Developments
▪ In 2022, breakfast cereals has pretty much fully recovered by the destructions caused by the
COVID-19 pandemic. However, now the industry suffers from the ongoing prices hikes, with
some items increasing by more than 5% at the time of writing. Even prior to the pandemic and
now the current economic situation, price was limited to middle- and upper-income
households, due to the high prices. However, now, even middle-income families are having to
cut out breakfast cereals from their spending due to the rising cost of living. Nonetheless,
demand overall remains fairly stable.
▪ The typical breakfast in Bangladesh is quite substantial, which reflects the fact that many
people are still engaged in manual work. In rural areas, among the items on the typical
breakfast table include panta, which is plain boiled rice soaked overnight in water and slightly
fermented and then mixed with salt and chilli, muri (puffed rice), chira (flattened rice) or khoi
(popped rice). These rice items would normally be served with milk, yoghurt, seasonal fruits,
or gur, which is a crude form of unrefined sugar. Other popular breakfast items include
paratha, roti and leavened bread, often served with eggs and/or meat. In addition, tea is
usually served with breakfast.
▪ Interest in eating breakfast cereals remains largely confined to affluent people living in Dhaka,
Chittagong and other urban areas. Breakfast cereals are seen as typically Western products
that are expensive and non-essential and it is likely that many people living in rural areas
would scarcely have encountered them. Nevertheless, sales are recording strong growth from
a low base as the expansion of Bangladesh’s middle class has resulted in more people being
able to afford to purchase breakfast cereals on a more regular basis.
▪ RTE cereals is the most popular type of breakfast cereals in Bangladesh, with family
breakfast cereals (particularly flakes) dominant. These products are often eaten by children.
However, demand for children’s breakfast cereals remains very limited.
▪ The main appeal of breakfast cereals is that they are convenient, requiring considerably less
preparation time than a traditional breakfast. Furthermore, some consumers view breakfast
cereals as being healthier than the traditional breakfast in Bangladesh.
▪ Traditional grocery retailers still dominate the distribution of breakfast cereals, but modern
grocery retail outlets (most notably hypermarkets) were steadily closing the gap on them prior
to the onset of the pandemic. This is because the consumer base for these products is
comprised mainly of middle-income and high-income urban consumers, who are more likely
than less affluent people to shop in modern grocery retailers. While this trend has been
reversed since the onset of the pandemic, this is likely to prove temporary.
▪ Cereal Partners offers a wide range of RTE cereals under its umbrella brand Nestlé, and
although these products have high unit prices, the brand has been able to establish a very
loyal base of consumers who value its high quality and premium positioning.
▪ Both Cereal Partners Worldwide and Kellogg Co have launched small pack sizes (80g and
even 26g), and these have proven popular with local consumers.
▪ In terms of marketing and promotion, free gifts are a key tool used by both of the leading
players to drive sales. This includes both Nestlé and Kellogg’s that both offer a small free gift.
Plus, in 2022, Kellogg’s has launched a new smaller box size which has been well received
by consumers.
▪ Furthermore, they both have school sponsorship programmes, with Nestlé sponsoring a
nationwide school talent contest, for example. Given that children are the key consumers of
breakfast cereals, these efforts are key to building awareness and brand loyalty. Another key
reason behind Nestlé’s strong position is its use of digital and TV advertising, while it also
sponsors a live music television programme.

▪ Population growth, urbanisation, widening distribution and an increased demand for
convenience due to accelerating consumer lifestyles (with increased female labour force
participation playing a role in this) will be the main drivers of growth in retail volume sales of
breakfast cereals. However, the category will continue to suffer from inflations and consumers
being forced to cut out any unnecessary expenditure.
▪ As aspirational products, RTE cereals can be expected to continue to benefit from the shift
towards modern retailing and more modern lifestyles among Bangladesh’s middle class.
▪ Modern grocery retail outlets will once again begin to expand their share of retail value sales
of breakfast cereals at the expense of traditional grocery retails, as the number of
supermarkets and hypermarkets in Bangladesh continues to rise.
Category Data
Table 22 Sales of Breakfast Cereals by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
-- Other RTE Cereals - - - - - -

-- Muesli and Granola 0.6 0.7 0.8 0.8 0.8 0.9
-- Flakes 3.0 3.5 4.0 3.9 4.2 4.6
- Family Breakfast 3.6 4.2 4.8 4.7 5.0 5.5
Cereals
- Children's Breakfast 0.4 0.4 0.4 0.4 0.4 0.4
Cereals
RTE Cereals 4.0 4.6 5.2 5.1 5.5 5.9
Hot Cereals 2.8 3.2 3.7 3.6 3.8 4.1
Table 23 Sales of Breakfast Cereals by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
-- Other RTE Cereals - - - - - -

-- Muesli and Granola 232.4 274.2 321.6 323.6 358.3 475.4
-- Flakes 1,081.4 1,257.7 1,457.7 1,460.1 1,592.0 2,089.0
- Family Breakfast 1,313.8 1,531.9 1,779.3 1,783.7 1,950.3 2,564.4
Cereals
- Children's Breakfast 145.7 162.8 181.3 175.0 185.4 237.2
Cereals
RTE Cereals 1,459.6 1,694.8 1,960.7 1,958.7 2,135.7 2,801.6
Hot Cereals 562.2 660.5 767.7 765.4 840.0 1,109.4
Table 24 Sales of Breakfast Cereals by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
-- Other RTE Cereals - - -

-- Muesli and Granola 9.6 9.2 55.4
-- Flakes 9.1 8.6 51.0
- Family Breakfast Cereals 9.2 8.7 51.7
- Children's Breakfast Cereals 6.2 4.6 25.4
RTE Cereals 9.0 8.4 49.4
Hot Cereals 8.6 8.3 48.7
Table 25 Sales of Breakfast Cereals by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total

-- Flakes 31.2 14.1 93.2
RTE Cereals 31.2 13.9 91.9
Hot Cereals 32.1 14.6 97.3
Table 26 NBO Company Shares of Breakfast Cereals: % Value2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022

Kellogg Co 28.5 28.3 28.3 28.4 28.6
Others 22.0 22.7 23.2 23.2 23.2
Total 100.0 100.0 100.0 100.0 100.0
Table 27 LBN Brand Shares of Breakfast Cereals: % Value2019-2022
% retail value rsp

Nestlé (Cereal Nestlé Bangladesh Ltd 49.0 48.5 48.4 48.2

Partners Worldwide
SA)
Others Others 51.0 51.5 51.6 51.8
Total Total 100.0 100.0 100.0 100.0
Table 28 Forecast Sales of Breakfast Cereals by Category: Volume 2022-2027
'000 tonnes
2022 2023 2024 2025 2026
-- Other RTE Cereals - - - - -

-- Muesli and Granola 0.9 1.0 1.1 1.2 1.3
-- Flakes 4.6 5.1 5.5 6.0 6.5
- Family Breakfast 5.5 6.1 6.7 7.2 7.8
Cereals
- Children's Breakfast 0.4 0.5 0.5 0.5 0.6
Cereals
RTE Cereals 5.9 6.6 7.2 7.8 8.4
Hot Cereals 4.1 4.5 4.9 5.3 5.7
Breakfast Cereals 10.1 11.1 12.1 13.1 14.1
trade sources
Table 29 Forecast Sales of Breakfast Cereals by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026
-- Other RTE Cereals - - - - -

-- Muesli and Granola 475.4 492.0 456.7 479.1 497.7
-- Flakes 2,089.0 2,145.8 1,982.5 2,069.8 2,140.2
- Family Breakfast 2,564.4 2,637.8 2,439.2 2,548.9 2,638.0
Cereals
- Children's Breakfast 237.2 238.6 217.2 225.2 231.3
Cereals
RTE Cereals 2,801.6 2,876.4 2,656.4 2,774.1 2,869.3
Hot Cereals 1,109.4 1,145.9 1,063.7 1,115.8 1,159.2
Breakfast Cereals 3,911.0 4,022.3 3,720.1 3,889.8 4,028.5
trade sources
Table 30 Forecast Sales of Breakfast Cereals by Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-26 CAGR 2022/26 Total

-- Flakes 10.5 9.0 41.1
trade sources
Table 31 Forecast Sales of Breakfast Cereals by Category: % Value Growth 2022-2027

2022/2023 2022-26 CAGR 2022/26 Total

-- Flakes 2.7 0.6 2.5
- Children's Breakfast Cereals 0.6 -0.6 -2.5
trade sources
PROCESSED MEAT, SEAFOOD AND ALTERNATIVES TO MEAT
2022 Developments
▪ In 2022, inflation has meant that prices of processed meat, seafood and alternatives to meat
have increased by about 30%. Nonetheless, the performance is still better than seen in 2020
and 2021 due to the recovery of the COVID-19 pandemic. With the economy reopening,
alongside educational institutions, offices, and general socialising, demand has recovered.
Likewise, due to consumers returning to their busy lifestyles and having less time, the
demand for frozen products has also increased as these are much easier to prepare. With
that being said, in general, consumers do prefer fresh meat and seafood, which remains the
main competition for the category in 2022.
▪ Bangladesh is the country with the lowest per capita meat consumption in the world, at just
4kg per annum, according to data compiled by the Asian Development Bank. Furthermore,
processed meat accounts for a very small proportion of all of the meat consumed in
Bangladesh. Some local consumers avoid processed meat and seafood products because
they regard them as being inferior to fresh meat and fish.
▪ However, demand for these products continues to rise due to the convenience that frozen,
ready-to-cook meat, poultry and seafood products offer. The availability of frozen processed
meat in retail outlets has developed mainly because these products are very common in the
foodservice industry and the leading companies in the supply of frozen processed meat to
retail outlets are also among the major foodservice suppliers of these products. Frozen
processed poultry products, such as chicken nuggets, wings and kebabs, is benefiting from
growing demand from young adults and children.
▪ Retail volume sales of processed meat, seafood and alternatives grew at a double-digit rate
throughout the review period (albeit from a relatively low base), with demand percolating
down from the country’s largest cities to smaller urban centres and from affluent consumers to
those on lower incomes.
▪ Retail volume sales of processed meat, seafood and alternatives to meat are dominated by
frozen processed poultry and frozen processed seafood.
▪ Due to the importance of fresh meat and the high penetration of traditional butchers, shelf
stable meat is not very popular. When faced with abundant sources of fresh meat at
affordable prices, most people simply do not see the benefit in purchasing shelf stable meat.
▪ However, shelf stable seafood is somewhat more popular, mainly due to the popularity of
canned tuna. Fish is one of the most important sources of protein for many people and this,
combined with the convenience provided by shelf stable products, has made canned tuna a
popular item.
▪ Bangladesh is officially a Muslim country and 90% of the population are practising Muslims
who are forbidden from consuming pork, while crab is also not culturally accepted by Bengali
Muslims. Furthermore, the vast majority of the remaining population are followers of either the
Hindu or Buddhist faiths, and many of these people are vegetarians. Although there is no
legal proscription on the sale of products which contain pork, the fact that only a very tiny
number of people would ever purchase them means that they are completely absent from
retail shelves.
▪ Although per capita meat consumption is low in Bangladesh, meat substitutes are not widely
available and this is mainly because there are many non-meat dishes in the local cuisine.
Many of the country’s Hindu and Buddhist vegetarians eat a lot of paneer (fresh cheese),
while they also obtain protein from the high amounts of lentils, chickpeas, beans and rice that
they eat. There is a strong traditional vegetarian culture in Bengali cuisine, which makes plant
protein-based products which seek to mimic or replace meat unnecessary.
▪ Independent small grocers dominate the distribution of processed meat and seafood, with
supermarkets and hypermarkets accounting for most of the remainder. Sales of these
products are limited mainly to Dhaka, Chittagong and other major cities. Therefore,
maintaining the appropriate cold-chain distribution for frozen processed meat and seafood is
less of an issue than it would be if distribution were extended to other parts of the country,
especially rural areas.
▪ The main players in processed meat and seafood are all domestic. Golden Harvest Agro
Industries Ltd, Harvest Rich Agro Industries Ltd, Aftab Group and Kazi Farms Ltd are all part
of much larger conglomerates and tend to be more focused on exporting than the domestic
market.
▪ The Golden Harvest and Rich brands both offer a wide range of ready-to-cook frozen
processed meat and seafood products, including samosas, sausages, patties, nuggets and
breaded items based on beef, chicken and fish. Both of these brands have been able to
establish a solid base of affluent consumers due to their high quality and positioning as
aspirational brands.
▪ Aftab offers a range of frozen shrimp and freshwater fish, while Kazi Farms Ltd is one of the
largest poultry producers in Bangladesh. Kazi Farms sponsored domestic TV and radio
programmes during the review period to help raise its brand profile.
▪ A relatively new player, Bengal Meat, has been conducting a range of marketing activities,
such as its meat festival, to help build brand awareness for its wide range of Halal-certified
processed meat products.
▪ During the review period, it launched a range of products based on local tastes, which
included Mojlishi Gosht, a popular dish for Boishakh (New Year), along with its signature
Mezbani Beef from the major coastal city of Chittagong, Chui Jhaal from Khulna
(Bangladesh’s third-largest city) and Shorshe Ilish, a dish made from herring. The company
has also launched frozen processed red meat.

▪ Over the forecast period, manufacturers are set to continue focusing on innovations and
releasing new products. Likewise, rural expansion is set to continue, which will positively
impact the category, however, inflation will continue to force consumers to economise.
▪ However, exportations are increasing each year which will contribute to the local market and
decrease the country’s reliance on imported products. This would lead to more affordable
products for consumers and hence greater demand. Moreover, demand is also set to increase
within the foodservice establishments, as more and more businesses switch to frozen
products as they are cheaper. With electrification now close to 100% in Bangladesh, this will
enable more retailers and households to store frozen processed meat and seafood.
Category Data
Table 32 Sales of Processed Meat, Seafood and Alternatives to Meat by Category:

Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
Tofu and Derivatives - - - - - -

- Shelf Stable Meat and - - - - - -
Seafood Substitutes
- Frozen Meat and - - - - - -
Seafood Substitutes
- Chilled Meat and - - - - - -
Seafood Substitutes
Meat and Seafood - - - - - -
Substitutes
- Frozen Processed 6.1 7.2 8.4 9.9 11.3 11.9
Seafood
- Chilled Processed - - - - - -
Seafood
- Shelf Stable Seafood 0.6 0.7 0.8 0.9 1.0 1.0
Processed Seafood 6.7 7.9 9.2 10.8 12.3 12.9
-- Frozen Processed 4.0 4.7 5.5 6.5 7.5 8.1
Poultry
-- Frozen Processed Red 0.3 0.3 0.4 0.4 0.5 0.5
Meat
- Frozen Processed Meat 4.3 5.1 5.9 6.9 8.0 8.6
-- Chilled Processed - - - - - -
Poultry
Red Meat
- Chilled Processed Meat - - - - - -
-- Shelf Stable - - - - - -
Processed Poultry
Processed Red Meat
- Shelf Stable Meat - - - - - -
Processed Meat 4.3 5.1 5.9 6.9 8.0 8.6
Table 33 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: Value
2017-2022
BDT million
2017 2018 2019 2020 2021 2022
Tofu and Derivatives - - - - - -

- Shelf Stable Meat and - - - - - -
Seafood Substitutes
- Frozen Meat and - - - - - -
Seafood Substitutes
- Chilled Meat and - - - - - -
Seafood Substitutes
Meat and Seafood - - - - - -
Substitutes
- Frozen Processed 1,461.8 1,745.9 2,070.5 2,473.6 2,867.9 3,613.5
Seafood
- Chilled Processed - - - - - -
Seafood
- Shelf Stable Seafood 219.5 251.9 288.2 340.1 385.1 488.0
Processed Seafood 1,681.3 1,997.8 2,358.7 2,813.7 3,253.0 4,101.5
-- Frozen Processed 1,522.4 1,805.3 2,133.2 2,548.9 2,989.0 3,900.8
Poultry
-- Frozen Processed Red 87.7 101.3 116.6 134.6 152.2 195.8
Meat
- Frozen Processed Meat 1,610.0 1,906.5 2,249.8 2,683.5 3,141.2 4,096.5
Poultry
Red Meat
- Chilled Processed Meat - - - - - -
Processed Poultry
Processed Red Meat
- Shelf Stable Meat - - - - - -
Processed Meat 1,610.0 1,906.5 2,249.8 2,683.5 3,141.2 4,096.5
Table 34 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: %

Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
Tofu and Derivatives - - -

- Shelf Stable Meat and Seafood - - -
Substitutes
- Frozen Meat and Seafood Substitutes - - -
- Chilled Meat and Seafood Substitutes - - -
Meat and Seafood Substitutes - - -
- Frozen Processed Seafood 5.0 14.4 95.6
- Chilled Processed Seafood - - -
- Shelf Stable Seafood 4.0 10.5 64.8
Processed Seafood 4.9 14.0 92.7
-- Frozen Processed Poultry 8.0 15.1 102.4
-- Frozen Processed Red Meat 5.0 9.9 60.3

- Frozen Processed Meat 7.8 14.8 99.4
-- Chilled Processed Poultry - - -
-- Chilled Processed Red Meat - - -
- Chilled Processed Meat - - -
-- Shelf Stable Processed Poultry - - -
-- Shelf Stable Processed Red Meat - - -
- Shelf Stable Meat - - -
Processed Meat 7.8 14.8 99.4
Table 35 Sales of Processed Meat, Seafood and Alternatives to Meat by Category: %

Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total

Substitutes
Table 36 NBO Company Shares of Processed Meat, Seafood and Alternatives to Meat:
% Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Golden Harvest Agro 29.2 29.0 28.8 28.6 28.4

Industries Ltd
BRAC social enterprise 17.5 17.7 17.9 18.0 18.1
Kazi Farms Ltd 12.5 12.8 13.0 13.2 13.4
Harvest Rich Agro 10.0 10.0 10.0 10.0 10.0
Industries Ltd
Others 30.8 30.5 30.3 30.2 30.1

Total 100.0 100.0 100.0 100.0 100.0
Table 37 LBN Brand Shares of Processed Meat, Seafood and Alternatives to Meat: %
Value 2019-2022
% retail value rsp

Golden Harvest Golden Harvest Agro 29.0 28.8 28.6 28.4

Industries Ltd
BRAC BRAC social enterprise 17.7 17.9 18.0 18.1
Kazi Farms Kitchen Kazi Farms Ltd 12.8 13.0 13.2 13.4
Rich Harvest Rich Agro 10.0 10.0 10.0 10.0
Industries Ltd
Others Others 30.5 30.3 30.2 30.1
Total Total 100.0 100.0 100.0 100.0
Table 38 Forecast Sales of Processed Meat, Seafood and Alternatives to Meat by

Category: Volume 2022-2027
'000 tonnes
2022 2023 2024 2025 2026
Tofu and Derivatives - - - - -

- Shelf Stable Meat and - - - - -
Seafood Substitutes
- Frozen Meat and - - - - -
Seafood Substitutes
- Chilled Meat and - - - - -
Seafood Substitutes
Meat and Seafood - - - - -
Substitutes
- Frozen Processed 11.9 12.8 14.2 15.7 17.1
Seafood
- Chilled Processed - - - - -
Seafood
- Shelf Stable Seafood 1.0 1.1 1.2 1.3 1.4
Processed Seafood 12.9 13.9 15.4 17.0 18.5
-- Frozen Processed 8.1 8.9 9.8 10.8 11.8
Poultry
-- Frozen Processed Red 0.5 0.5 0.6 0.6 0.7
Meat
- Frozen Processed Meat 8.6 9.4 10.4 11.5 12.5
-- Chilled Processed - - - - -
Poultry
Red Meat
- Chilled Processed Meat - - - - -
-- Shelf Stable - - - - -
Processed Poultry
Processed Red Meat
- Shelf Stable Meat - - - - -

Processed Meat 8.6 9.4 10.4 11.5 12.5
Processed Meat, Seafood 21.5 23.3 25.9 28.4 30.9
trade sources

Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026

Seafood Substitutes
Seafood Substitutes
Seafood Substitutes
Substitutes
- Frozen Processed 3,613.5 3,628.3 3,342.8 3,510.0 3,650.9
Seafood
Seafood
Processed Seafood 4,101.5 4,121.5 3,797.1 3,986.2 4,143.7
-- Frozen Processed 3,900.8 4,010.3 3,748.6 3,994.2 4,215.6
Poultry
Meat
- Frozen Processed Meat 4,096.5 4,212.0 3,936.7 4,195.0 4,429.0
Poultry
Red Meat
Processed Poultry
Processed Red Meat
Processed Meat 4,096.5 4,212.0 3,936.7 4,195.0 4,429.0
Processed Meat, Seafood 8,198.0 8,333.4 7,733.8 8,181.2 8,572.7
trade sources

Category: Value 2022-2027
BDT bn
2022 2023 2024 2025 2026

Seafood Substitutes
Seafood Substitutes
Seafood Substitutes
Substitutes
Seafood
Seafood
Processed Seafood 4.1 4.1 3.8 4.0 4.1
-- Frozen Processed 3.9 4.0 3.7 4.0 4.2
Poultry
Meat
- Frozen Processed Meat 4.1 4.2 3.9 4.2 4.4
Poultry
Red Meat
Processed Poultry
Processed Red Meat
Processed Meat 4.1 4.2 3.9 4.2 4.4
Processed Meat, Seafood 8.2 8.3 7.7 8.2 8.6
trade sources

Category: % Volume Growth 2022-2027
% volume growth
2022/23 2022-26 CAGR 2022/26 Total

Substitutes

trade source

Category: % Value Growth 2022-2027

2022/2023 2022-26 CAGR 2022/26 Total

Substitutes
trade source
PROCESSED FRUIT AND VEGETABLES
2022 Developments
▪ In 2022, prices have increased by around 40% which has caused many consumers to cut out
their usage of processed fruit and vegetables. This category has always been pricey and
there its main consumers are middle- to high-income consumers. However, now even some
middle-income households are having to economise and cut spending, due to global inflation
and fuel prices. Most products within this category are imported, which means prices are even
higher due to the rising fuel and transportation costs. Despite all of this, the category is still
performing better than seen in 2020 and 2021 as the pandemic has now come to an end and
consumers have returned to their normal routines.
▪ The development of processed fruit and vegetables is still at an incipient stage in Bangladesh.
Although rising demand for convenience among urban consumers has spurred growth, many
consumers are excluded from the category because of high prices, especially in comparison
with fresh fruit and vegetables.
▪ Fresh fruit and vegetables are readily available from retail outlets all over the country,
including open markets (bazaars), roadside shops, portable shops (vanwalas) and itinerant
hawkers (feriwalas). Furthermore, prices are usually very reasonable for most consumers.
▪ The diets of most people are based primarily on rice and fresh fruit and vegetables, and it is
common for people to consume large amounts of fresh produce. In comparison with fresh fruit
and vegetables, shelf stable products are usually regarded as less natural and thus less
desirable
▪ Retail volume sales of processed fruit and vegetables are dominated by shelf stable fruit and
frozen processed vegetables.
▪ Demand for processed fruit and vegetables is mainly limited to middle-income and high-
income urban consumers. This is because these are usually the only people who can afford to
purchase them on a regular basis, and they are also more likely to appreciate the
convenience that they offer. Furthermore, affluent urban consumers are generally the only
Bangladeshis who have freezers at homes for storing these products.
▪ The distribution of processed fruit and vegetables continues to be dominated by independent
small grocers due to their ubiquity in the country, but modern grocery retailers were steadily
growing in importance prior to the onset of the pandemic. While the pandemic disrupted this
trend, as it led many local consumers to do their grocery shopping closer to home, it is
unlikely to have derailed it.
▪ Del Monte dominates processed fruit and vegetables, with the Del Monte and S&W brands,
respectively.
▪ As a well-known international brand, Del Monte has a strong reputation for quality.
▪ Del Monte regularly introduces new products. During the review period, these included Del
Monte Fruit Refreshers – a range of fruit cups – Contadina Canned Tomatoes from California,
Del Monte Dried Blueberries, and Del Monte Baked Beans – the company’s first entry into
shelf stable beans in the region.
▪ There are no significant local players present in processed fruit and vegetables.

▪ Over the forecast period, demand will remain limited as most local consumers (particularly
those in rural areas) will continue to regard processed fruit and vegetables as inferior to fresh
produce. Likewise, ongoing inflation will make such products unaffordable to the majority of
consumers.
▪ However, demand will be driven by population expansion, urbanisation, the Westernisation of
local tastes and preferences and widening distribution and accelerating consumers lifestyles.
▪ Home Cooking became even more popular during lockdown, and it is set to increase in 2023
and beyond due to the inflated prices of eating out. This means consumers will be keen to
experiment and make international dishes, some of which require processed fruit and
vegetables. This will also be further encouraged by social media platforms such as Instagram
and YouTube that showcase cooking videos and reels and are particularly popular among
younger consumers.
Category Data
Table 43 Sales of Processed Fruit and Vegetables by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022

Vegetables
Potatoes
- Frozen Fruit - - - - - -
Frozen Processed Fruit 1.8 2.0 2.3 2.4 2.6 2.7
and Vegetables
- Shelf Stable Vegetables 0.1 0.1 0.1 0.1 0.1 0.1
- Shelf Stable Tomatoes - - - - - -
- Shelf Stable Fruit 2.3 2.5 2.7 2.6 2.6 2.6
- Shelf Stable Beans 0.1 0.1 0.1 0.1 0.1 0.1
Shelf Stable Fruit and 2.5 2.7 2.9 2.8 2.7 2.8
Vegetables
Vegetables
Table 44 Sales of Processed Fruit and Vegetables by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022

Vegetables
Potatoes
- Frozen Fruit - - - - - -
Frozen Processed Fruit 340.3 393.8 453.1 480.4 503.1 660.5
and Vegetables
- Shelf Stable Vegetables 12.6 14.5 16.6 17.7 18.3 23.8
- Shelf Stable Tomatoes - - - - - -
- Shelf Stable Fruit 593.1 655.9 722.8 707.4 706.0 897.9
- Shelf Stable Beans 20.3 23.4 26.8 29.4 30.1 39.3
Shelf Stable Fruit and 626.0 693.9 766.2 754.5 754.5 961.0
Vegetables
Processed Fruit and 966.4 1,087.6 1,219.3 1,234.9 1,257.6 1,621.5
Vegetables
Table 45 Sales of Processed Fruit and Vegetables by Category: % Volume Growth 2017-
2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
- Frozen Processed Vegetables 3.9 9.4 56.5

- Frozen Processed Potatoes 7.6 6.7 38.5
- Frozen Fruit - - -
Frozen Processed Fruit and Vegetables 5.0 8.6 50.8
- Shelf Stable Vegetables 1.1 4.3 23.2
- Shelf Stable Tomatoes - - -
- Shelf Stable Fruit 1.1 2.1 11.0
- Shelf Stable Beans 2.1 5.3 29.6
Shelf Stable Fruit and Vegetables 1.2 2.3 11.9

Table 46 Sales of Processed Fruit and Vegetables by Category: % Value Growth 2017-
2022

2021/22 2017-22 CAGR 2017/22 Total

Table 47 NBO Company Shares of Processed Fruit and Vegetables: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022
Del Monte Pacific Ltd 33.0 33.0 33.5 34.0 34.5

Del Monte Foods Inc 24.0 24.0 24.5 25.0 25.5
Del Monte Foods Co - - - - -
Others 43.0 43.0 42.0 41.0 40.0
Total 100.0 100.0 100.0 100.0 100.0
Table 48 LBN Brand Shares of Processed Fruit and Vegetables: % Value 2019-2022
% retail value rsp

Del Monte Del Monte Pacific Ltd 33.0 33.5 34.0 34.5
S&W (Del Monte Del Monte Foods Inc 24.0 24.5 25.0 25.5
Pacific Ltd)
Del Monte Del Monte Foods Co - - - -
S&W Del Monte Foods Co - - - -
Others Others 43.0 42.0 41.0 40.0
Total Total 100.0 100.0 100.0 100.0
Table 49 Forecast Sales of Processed Fruit and Vegetables by Category: Volume 2022-
2027
'000 tonnes
2022 2023 2024 2025 2026

Vegetables
Potatoes
- Frozen Fruit - - - - -
Frozen Processed Fruit 2.7 3.0 3.3 3.7 4.0
and Vegetables
- Shelf Stable Vegetables 0.1 0.1 0.1 0.1 0.1
- Shelf Stable Tomatoes - - - - -
- Shelf Stable Fruit 2.6 2.8 3.0 3.2 3.4
- Shelf Stable Beans 0.1 0.1 0.1 0.1 0.1
Shelf Stable Fruit and 2.8 3.0 3.2 3.4 3.6
Vegetables
Processed Fruit and 5.5 6.0 6.5 7.1 7.6
Vegetables
trade sources
Table 50 Forecast Sales of Processed Fruit and Vegetables by Category: Value 2022-
2027
BDT million
2022 2023 2024 2025 2026

Vegetables
Potatoes
- Frozen Fruit - - - - -
Frozen Processed Fruit 660.5 691.8 625.9 667.5 710.0
and Vegetables
- Shelf Stable Vegetables 23.8 24.6 21.9 23.0 24.1
- Shelf Stable Tomatoes - - - - -
- Shelf Stable Fruit 897.9 904.6 789.5 814.8 838.4
- Shelf Stable Beans 39.3 40.9 36.7 38.8 41.0
Shelf Stable Fruit and 961.0 970.1 848.1 876.6 903.5
Vegetables
Processed Fruit and 1,621.5 1,661.9 1,474.0 1,544.1 1,613.5
Vegetables
trade sources
Table 51 Forecast Sales of Processed Fruit and Vegetables by Category: % Volume

Growth 2022-2027
% volume growth
2022/23 2022-26 CAGR 2022/26 Total


trade sources
Table 52 Forecast Sales of Processed Fruit and Vegetables by Category: % Value

Growth 2022-2027

2022/2023 2022-26 CAGR 2022/26 Total

- Shelf Stable Fruit 0.7 -1.7 -6.6
Shelf Stable Fruit and Vegetables 1.0 -1.5 -6.0
Processed Fruit and Vegetables 2.5 -0.1 -0.5
trade sources
RICE, PASTA AND NOODLES
2022 Developments
▪ In 2022, rice, pasta and noodles has also been impacted by global inflation, with prices
increasing by 40% for rice and pasta and 35% for noodles. Despite this, sales have continued
to recover from the COVID-19 pandemic, however, the overall performance of the category is
not as good as it was supposed to be before the global cost of living and fuel prices rocketed.
▪ Rice is by far the most important food stuff in Bangladesh, and the importance of rice in the
national culture cannot be underestimated. The Bangladesh Rice Knowledge bank reports
that its cultivation accounts for almost half of rural employment, some two-thirds of the
country’s total calorie intake and around half of the protein intake of the average person.
Commerce based on rice generates 50% of agricultural GDP as well as one-sixth of the
country’s entire income. There are 10.5 million hectares of rice under cultivation on 13 million
farms across the country. However, Bangladesh remains a net importer of rice, with Vietnam
the main source of these imports.
▪ It would be difficult for most people in Bangladesh to conceive of a meal which omitted rice.
Traditional meals almost always consist of boiled rice, known locally as bhat, served with a
fish or meat-based dish and a vegetable-based side-dish. In addition to being served boiled
as a side dish, another popular way of preparing rice is to form it into rice cakes known as
phita. There are up to 200 different types of phita, most of which are specific to a certain city,
town or region.
▪ In rural areas of the country, it is not unusual for people to eat rice three times per day, for
breakfast, lunch and dinner. Breakfast rice is often called panta, which is plain boiled rice
soaked overnight in water and slightly fermented and then mixed with salt and chilli. Other
popular types of breakfast rice include muri (puffed rice), chira (flattened rice) and khoi
(popped rice), all of which are usually eaten with milk or yoghurt, fruit and the crude unrefined
sugar known as gur. In urban areas, it is more common for rice to be eaten twice per day, in
the form of bhat, for lunch and dinner. This supports very high per capita consumption of rice.
▪ Despite the dominance of rice in the national cuisine, noodles are becoming more popular
among busy urban consumers. Noodles are seen by many as a more exotic and sophisticated
than rice, and they are often served to guests. These products are mainly becoming popular
among those with a more modern attitude towards food i.e. affluent consumers in urban
areas.
▪ Noodles are increasingly regard as an economical and convenient option due to their short
preparation time. They are becoming a more popular inclusion in the tiffin boxes that many
children and workers take to work with them every day for lunch.
▪ Data compiled by the Asian Development Bank suggest that as much as 80% of rice sold in
Bangladesh is unpackaged. People take containers with them when purchasing rice from
open markets (bazaars), roadside shops, and portable shops (vanwalas). These types of
retailers sell rice in smaller quantities in loose format from sacks weighing 25kg or more.
▪ However, demand is slowly shifting towards packaged rice, especially in urban areas, where
the higher cost of packaged rice is more easily absorbed by local consumers. Packaged rice
is regarded as more hygienic and also more trustworthy in terms of provenance and
accountability in the supply chain.
▪ With retail value sales of packaged rice highly fragmented among numerous regional brands
and with retail value sales of pasta still very low, Nestlé Bangladesh Ltd’s noodles brand
Maggi continued to lead rice, pasta and noodles in terms of retail value share during 2022,
ahead of Pran Foods Ltd’s Mr Noodles brand.
▪ Nestlé Bangladesh Ltd has been able to establish a very strong nationwide distribution
network for its iconic global brand, as it has a very strong presence in numerous packaged
food categories, not to mention the experience and expertise of its global parent company in
noodles in many countries around the world. In 2019, Maggi sponsored a New Year Bangla
festival.
▪ Mr Noodles is supported by television advertising, while Pran Foods Ltd has run a school art
competition in an effort to help drive interest and awareness among children.
▪ During the review period, Olympic Biscuits Industries began marketing noodles under the
brand name Foodie Noodles, backed by significant TV and internet advertising. Flavours
include chicken Masala.
▪ Independent small grocers dominates the distribution of rice, pasta and noodles. During the
review period, modern grocery retailers (mainly hypermarkets and supermarkets) grew in
importance, but sales within these channels remain largely limited to mid- to high-income
urban consumers.
▪ A number of new noodle brands have been launched in Bangladesh since the onset of the
pandemic. These include Samyang, Nissin and NongShim, with a range of flavours that
includes Fusion sweet chilli, Tandoori chicken, hot Korean, hot chicken and BBQ, which will
appeal to younger consumers in particular.

▪ Over the forecast period, demand will be supported by population expansion and
urbanisation, however, inflation is set to continue.
▪ Packaged rice will continue to gain ground on unpackaged offerings, with modern grocery
retail outlets playing an increasingly important role in distribution as they continue to
proliferate.
▪ Pasta will remain insignificant, however, noodles will become increasingly popular, with new
flavours from Thailand, Korea, and Japan expected to be on offer. Younger consumers
especially are set to move away from plain noodles and prefer flavoured ones. Likewise, cup
noodles will become more popular, especially among urban consumers.
Category Data
Table 53 Sales of Rice, Pasta and Noodles by Category: Volume 2017-2022
'000 tonnes
2017 2018 2019 2020 2021 2022
Rice 168.0 192.1 217.4 254.3 292.5 286.6

- Dried Pasta 0.5 0.5 0.6 0.5 0.4 0.5
- Chilled Pasta - - - - - -
Pasta 0.5 0.5 0.6 0.5 0.4 0.5
- Plain Noodles 11.3 13.7 16.2 18.0 19.9 20.0
-- Instant Noodle Pouches 15.4 18.8 22.5 25.3 28.3 28.6
-- Instant Noodle Cups 0.0 0.0 0.0 0.0 0.0 0.0
- Instant Noodles 15.4 18.9 22.5 25.3 28.3 28.6
- Frozen Noodles - - - - - -
- Chilled Noodles - - - - - -
Noodles 26.7 32.6 38.7 43.4 48.2 48.6
Table 54 Sales of Rice, Pasta and Noodles by Category: Value 2017-2022
BDT million
2017 2018 2019 2020 2021 2022
Rice 18,228.8 21,682.2 25,520.0 30,767.1 36,600.2 40,873.3

- Dried Pasta 81.1 92.2 104.0 90.1 90.9 134.5
- Chilled Pasta - - - - - -
Pasta 81.1 92.2 104.0 90.1 90.9 134.5
- Plain Noodles 2,299.2 2,909.4 3,593.5 4,148.5 4,781.2 5,636.0
-- Instant Noodle Pouches 3,602.3 4,591.8 5,700.4 6,629.9 7,672.7 9,821.1
-- Instant Noodle Cups 19.9 21.1 22.7 21.2 20.9 25.6
- Instant Noodles 3,622.2 4,612.8 5,723.1 6,651.1 7,693.6 9,846.7
- Frozen Noodles - - - - - -
- Chilled Noodles - - - - - -
Noodles 5,921.4 7,522.2 9,316.6 10,799.7 12,474.8 15,482.6
Table 55 Sales of Rice, Pasta and Noodles by Category: % Volume Growth 2017-2022
% volume growth
2021/22 2017-22 CAGR 2017/22 Total
Rice -2.0 11.3 70.6

- Dried Pasta 6.0 0.1 0.6
- Chilled Pasta - - -
Pasta 6.0 0.1 0.6
- Plain Noodles 0.5 12.2 77.5
-- Instant Noodle Pouches 1.2 13.2 85.9
-- Instant Noodle Cups -10.0 -2.4 -11.2
- Instant Noodles 1.2 13.2 85.7
- Frozen Noodles - - -
- Chilled Noodles - - -
Noodles 0.9 12.8 82.2
Rice, Pasta and Noodles -1.6 11.5 72.0
Table 56 Sales of Rice, Pasta and Noodles by Category: % Value Growth 2017-2022

2021/22 2017-22 CAGR 2017/22 Total
Rice 11.7 17.5 124.2

- Dried Pasta 48.0 10.6 65.8
Pasta 48.0 10.6 65.8
- Plain Noodles 17.9 19.6 145.1
-- Instant Noodle Cups 22.8 5.2 29.0
Noodles 24.1 21.2 161.5
Table 57 NBO Company Shares of Rice, Pasta and Noodles: % Value 2018-2022
% retail value rsp

Company 2018 2019 2020 2021 2022

Pran Foods Ltd 5.5 5.8 5.7 5.5 5.8
Cocola Food Products Ltd 5.1 5.3 5.2 5.1 5.4
Others 81.2 80.5 81.0 81.5 80.5
Total 100.0 100.0 100.0 100.0 100.0
Table 58 LBN Brand Shares of Rice, Pasta and Noodles: % Value 2019-2022
% retail value rsp

Maggi (Nestlé SA) Nestlé Bangladesh Ltd 8.4 8.1 7.9 8.3
Mr Noodles Pran Foods Ltd 5.8 5.7 5.5 5.8

Cocola Cocola Food Products Ltd 5.3 5.2 5.1 5.4
Others Others 80.5 81.0 81.5 80.5
Total Total 100.0 100.0 100.0 100.0
Table 59 Forecast Sales of Rice, Pasta and Noodles by Category: Volume 2022-2027
'000 tonnes
2022 2023 2024 2025 2026
Rice 286.6 321.0 353.1 386.7 421.5

- Dried Pasta 0.5 0.6 0.6 0.6 0.7
- Chilled Pasta - - - - -
Pasta 0.5 0.6 0.6 0.6 0.7
- Plain Noodles 20.0 22.2 24.2 26.3 28.4
-- Instant Noodle Pouches 28.6 31.9 35.1 38.5 41.9
-- Instant Noodle Cups 0.0 0.0 0.0 0.0 0.0
- Instant Noodles 28.6 32.0 35.2 38.5 42.0
- Frozen Noodles - - - - -
- Chilled Noodles - - - - -
Noodles 48.6 54.1 59.4 64.8 70.4
Rice, Pasta and Noodles 335.7 375.7 413.1 452.1 492.5
trade sources
Table 60 Forecast Sales of Rice, Pasta and Noodles by Category: Value 2022-2027
BDT million
2022 2023 2024 2025 2026
Rice 40,873.3 42,917.0 44,186.6 47,500.6 50,825.6

- Dried Pasta 134.5 141.3 121.4 126.9 131.9
- Chilled Pasta - - - - -
Pasta 134.5 141.3 121.4 126.9 131.9
- Plain Noodles 5,636.0 5,850.3 5,912.9 6,329.2 6,737.2
-- Instant Noodle Pouches 9,821.1 10,263.0 9,572.2 10,338.0 11,113.4
-- Instant Noodle Cups 25.6 27.3 22.8 23.7 24.5
- Instant Noodles 9,846.7 10,290.4 9,595.0 10,361.7 11,137.9
- Frozen Noodles - - - - -
- Chilled Noodles - - - - -
Noodles 15,482.6 16,140.6 15,507.9 16,690.9 17,875.0
Rice, Pasta and Noodles 56,490.5 59,198.8 59,815.9 64,318.4 68,832.6
trade sources
Table 61 Forecast Sales of Rice, Pasta and Noodles by Category: % Volume Growth
2022-2027
% volume growth
2022/23 2022-26 CAGR 2022/26 Total
Rice 12.0 10.1 47.0

- Dried Pasta 16.5 8.7 39.4
Pasta 16.5 8.7 39.4
-- Instant Noodle Cups 14.5 8.0 36.2
Noodles 11.2 9.7 44.7
trade sources
Table 62 Forecast Sales of Rice, Pasta and Noodles by Category: % Value Growth 2022-
2027

2022/2023 2022-26 CAGR 2022/26 Total
Rice 5.0 5.6 24.3

- Dried Pasta 5.0 -0.5 -1.9
Pasta 5.0 -0.5 -1.9
-- Instant Noodle Cups 6.7 -1.1 -4.4
Noodles 4.2 3.7 15.5
trade sources

Staple Foods in Bangladesh

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Staple Foods in Bangladesh

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Staple Foods in Bangladesh

LIST OF CONTENTS AND TABLES

Table 23 Sales of Breakfast Cereals by Category: Value 2017-2022 ....................... 20

Table 46 Sales of Processed Fruit and Vegetables by Category: % Value

STAPLE FOODS IN BANGLADESH

Staple foods in 2022: The big picture

What next for staple foods?

Chart 1 Staple Foods: Modern Grocery Retailer

Source: Euromonitor International

Chart 2 Staple Foods: Modern Grocery Retailer

Source: Euromonitor International

Chart 3 Staple Foods: Modern Grocery Retailer

Source: Euromonitor International

Chart 4 Staple Foods: Modern Grocery Retailer

Source: Euromonitor International

Table 2 Sales of Staple Foods by Category: Value 2017-2022

Table 3 Sales of Staple Foods by Category: % Volume Growth 2017-2022

Rice, Pasta and Noodles -1.6 11.5 72.0

Table 4 Sales of Staple Foods by Category: % Value Growth 2017-2022

% current value growth

Rice, Pasta and Noodles 14.9 18.4 133.1

Table 5 NBO Company Shares of Staple Foods: % Value 2018-2022

% retail value rsp

Pran Foods Ltd 8.3 8.6 8.8 8.8 9.2

Golden Harvest Agro 1.7 1.8 1.9 1.9 2.1

Table 6 LBN Brand Shares of Staple Foods: % Value 2019-2022

% retail value rsp

Table 7 Distribution of Staple Foods by Format: % Value 2017-2022

% retail value rsp

Retail Channels 100.0 100.0 100.0 100.0 100.0 100.0

--- Convenience Retail 0.6 0.7 0.7 0.4 0.3 0.5

Table 8 Forecast Sales of Staple Foods by Category: Volume 2022-2027

Table 9 Forecast Sales of Staple Foods by Category: Value 2022-2027

Processed Fruit and 1,621.5 1,661.9 1,474.0 1,544.1 1,613.5 1,681.7

Table 10 Forecast Sales of Staple Foods by Category: % Volume Growth 2022-2027

Rice, Pasta and Noodles 11.9 9.7 59.1

Table 11 Forecast Sales of Staple Foods by Category: % Value Growth 2022-2027

% constant value growth

Rice, Pasta and Noodles 4.8 5.4 29.8

Prospects and Opportunities

Table 12 Sales of Baked Goods by Category: Volume 2017-2022

- Frozen Cakes, Sweet - - - - - -

Table 13 Sales of Baked Goods by Category: Value 2017-2022

- Frozen Cakes, Sweet - - - - - -

Table 14 Sales of Baked Goods by Category: % Volume Growth 2017-2022

- Frozen Cakes, Sweet Pies and Tarts - - -

Table 15 Sales of Baked Goods by Category: % Value Growth 2017-2022

% current value growth

- Frozen Cakes, Sweet Pies and Tarts - - -

Table 16 NBO Company Shares of Baked Goods: % Value2018-2022

% retail value rsp

Pran Foods Ltd 13.0 14.0 15.0 16.0 17.0

Table 17 LBN Brand Shares of Baked Goods: % Value 2019-2022

% retail value rsp

Table 18 Forecast Sales of Baked Goods by Category: Volume 2022-2027

- Frozen Cakes, Sweet - - - - -

Table 19 Forecast Sales of Baked Goods by Category: Value 2022-2027

- Frozen Cakes, Sweet - - - - -

Table 20 Forecast Sales of Baked Goods by Category: % Volume Growth 2022-2027

- Frozen Cakes, Sweet Pies and Tarts - - -

Table 21 Forecast Sales of Baked Goods by Category: % Value Growth 2022-2027

% constant value growth

- Frozen Cakes, Sweet Pies and Tarts - - -

Prospects and Opportunities