Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in Bhutan is experiencing subdued growth due to factors such as limited consumer awareness and availability of traditional alternatives. Despite this, the market is slowly growing due to increasing demand for convenience and health-consciousness.
Customer preferences: As Bhutanese consumers become more health-conscious, there has been an increase in demand for gluten-free and organic cereal products. This trend is driven by the country's cultural emphasis on natural and wholesome foods. Additionally, there is a growing awareness of the benefits of incorporating traditional grains like buckwheat and millet into the diet. This shift towards healthier options is also influenced by the rise in lifestyle-related diseases, leading consumers to seek out more nutritious options.
Trends in the market: In Bhutan, there is a growing trend towards incorporating traditional grains, such as millet and buckwheat, into mainstream cereal products. This trend is driven by a desire for healthier and more sustainable food options, as well as a renewed interest in preserving cultural heritage. These trends are expected to continue as consumers increasingly prioritize health and sustainability in their food choices. For industry stakeholders, this presents an opportunity to diversify product offerings and tap into a growing market for alternative grains. However, challenges such as limited processing and distribution infrastructure may need to be addressed to fully capitalize on this trend.
Local special circumstances: In Bhutan, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique geographical and cultural factors. The mountainous terrain and limited agricultural land make wheat and rice cultivation difficult, leading to the dominance of traditional cereal products such as buckwheat and maize. Additionally, Bhutanese culture places a high value on food self-sufficiency, resulting in strict regulations on food imports and a preference for locally produced cereals. These factors contribute to a niche market for alternative cereal products in Bhutan.
Underlying macroeconomic factors: The Other Cereal Products Market within the Bread & Cereal Products Market of The Food market in Bhutan is also impacted by macroeconomic factors such as global economic conditions, national economic stability, government fiscal policies, and other financial indicators. Countries with robust economic growth and favorable fiscal policies are likely to experience higher market growth compared to those with economic challenges and limited government support. Additionally, the increasing demand for healthy and convenient food options due to changing consumer preferences and rising disposable income is driving the growth of the Other Cereal Products 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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