Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products Market in Bhutan has been experiencing moderate growth, driven by factors such as increasing health consciousness, convenience of online services and improved technology. However, the growth rate is subdued due to limited consumer demand and competition from traditional food options.
Customer preferences: In Bhutan, there has been a noticeable shift towards healthier eating habits, leading to an increase in demand for whole grain and gluten-free options in the Bread & Cereal Products Market. This trend is driven by a growing focus on personal health and wellness, as well as a rise in dietary restrictions and preferences among consumers. Additionally, there has been a rise in the popularity of locally-sourced and sustainably-produced bread and cereal products, reflecting a cultural emphasis on supporting local businesses and promoting environmental sustainability.
Trends in the market: In Bhutan, the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier options, as consumers become more health-conscious. This trend is reflected in the increasing demand for whole grain and gluten-free products. Additionally, there is a rise in the use of locally sourced ingredients and traditional grains, such as buckwheat and millet, showcasing a return to traditional Bhutanese cuisine. These trends are significant for industry stakeholders as they must adapt their product offerings to cater to changing consumer preferences. Furthermore, this shift towards healthier options has the potential to positively impact public health in the long run.
Local special circumstances: In Bhutan, the Bread & Cereal Products Market within The Food market is influenced by the country's unique geographical and cultural factors. Due to the mountainous terrain and limited arable land, traditional grains such as buckwheat and millet are commonly used in bread and cereal products. Additionally, Bhutanese cuisine heavily emphasizes the use of local ingredients, leading to a demand for locally produced bread and cereal options. The country's strict regulations on foreign imports also play a role in shaping the market dynamics, promoting the growth of domestic producers.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Bhutan is impacted by macroeconomic factors such as the country's economic growth, inflation rates, and fiscal policies. Global economic trends, such as changing consumer preferences and fluctuating raw material prices, also play a significant role in shaping the market. Additionally, Bhutan's efforts towards promoting sustainable and organic food production have led to an increase in demand for healthier bread and cereal options. The country's strong focus on promoting local agriculture and reducing food imports has also positively impacted the growth of this market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
