Key regions: India, United States, Japan, United Kingdom, China
The Bread market in Bhutan is facing subdued growth, influenced by factors such as limited consumer awareness and traditional food preferences. Despite this, the market is expected to grow due to increasing urbanization and the convenience of packaged bread products.
Customer preferences: Consumers in Bhutan are becoming more health-conscious, leading to a growing demand for healthier bread options. This trend is driven by the country's Buddhist culture, which promotes a plant-based diet. Additionally, with a rise in disposable income and changing lifestyles, there is a shift towards more convenient and on-the-go food options. This has led to an increase in demand for pre-packaged and frozen bread products, as well as the use of alternative grains such as buckwheat and millet in bread making.
Trends in the market: In Bhutan, the Bread Market within the Bread & Cereal Products Market is experiencing a shift towards healthier and more sustainable options. This trend is driven by consumer demand for organic and whole grain bread, as well as gluten-free and vegan options. Additionally, there is a growing focus on reducing food waste, leading to the development of innovative bread products made from alternative grains and ingredients. These trends have significant implications for industry stakeholders, as they must adapt their product offerings to meet changing consumer preferences and reduce their environmental impact.
Local special circumstances: In Bhutan, the Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique cultural and geographical factors. Bhutan's traditional cuisine is heavily focused on rice, resulting in a lower demand for bread products. Additionally, the country's mountainous terrain makes it difficult for large-scale bread production and distribution. This has led to a smaller market size for bread products, with a focus on locally made and consumed options. Strict regulations on imported food products also contribute to the limited presence of international bread brands in the market.
Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market is heavily influenced by macroeconomic factors such as changing consumer preferences, global economic conditions, and government regulations. Countries with a stable economy and strong investment in food industry infrastructure are experiencing faster market growth compared to regions with economic challenges and limited government support. Additionally, the increasing awareness of the benefits of a healthy diet and the rising demand for convenience and specialty bread products are driving the growth of the Bread Market in Bhutan.
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.
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