Key regions: India, South Korea, United Kingdom, United States, Spain
The Pasta Market in Bhutan is experiencing subdued growth due to various factors like changing consumer preferences and limited availability of raw materials. Despite the convenience of online services, the market is facing challenges in terms of technological advancements and awareness among consumers. This has resulted in a slower growth rate for the Bread & Cereal Products Market within The Food market.
Customer preferences: As Bhutanese consumers become more health-conscious, there is a growing demand for healthier and more sustainable pasta options. This has led to the emergence of gluten-free, whole grain, and organic pasta varieties in the market. Additionally, with the rise of busy lifestyles, there is a growing preference for convenient and microwaveable pasta products. This trend is also influenced by the increasing popularity of pasta as a quick and easy meal option among young adults.
Trends in the market: In Bhutan, the Pasta Market of the Bread & Cereal Products Market within The Food market is seeing a rise in demand for healthier pasta options, such as whole wheat and gluten-free varieties. This trend is driven by the increasing health consciousness among consumers and their desire for more nutritious options. Additionally, there is a growing trend of incorporating local ingredients and traditional Bhutanese flavors into pasta dishes, catering to the demand for authentic and unique culinary experiences. This shift towards healthier and locally-inspired pasta products is likely to continue, presenting opportunities for industry stakeholders to innovate and differentiate their offerings.
Local special circumstances: In Bhutan, the Pasta Market of the Bread & Cereal Products Market within The Food market is influenced by the country's unique cultural and geographical factors. The population's preference for traditional Bhutanese cuisine has limited the growth of the Pasta Market. Moreover, the country's strict regulations on importation of wheat and other grains have created challenges for foreign pasta brands. However, the government's efforts to promote Bhutanese agriculture and increase domestic production of wheat and other grains could present growth opportunities for the Pasta Market in the future.
Underlying macroeconomic factors: The Pasta Market of the Bread & Cereal Products Market within The Food market is greatly impacted by macroeconomic factors such as consumer spending, inflation rates, and trade policies. Countries with stable economies and increasing consumer purchasing power are experiencing a rise in demand for pasta, leading to market growth. On the other hand, fluctuating inflation rates and trade policies create uncertainty and can affect production costs and prices, influencing market performance. Additionally, the growing demand for convenient and healthy food options globally is driving the demand for pasta as a versatile and nutritious choice, contributing to the market's growth.
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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