Key regions: Spain, China, Canada, India, South Korea
The Rice Market in Bhutan has experienced subdued growth due to factors such as low demand, limited access to technology and infrastructure, and reliance on traditional farming methods. This has hindered the market's growth rate, despite the increasing health consciousness and convenience offered by online services in The Food market.
Customer preferences: As the demand for healthier food options continues to rise in Bhutan, the Rice Market of the Bread & Cereal Products Market within The Food market is experiencing a shift towards organic and locally sourced rice. This trend is driven by consumer preferences for natural and sustainable products, as well as a growing awareness of the benefits of traditional Bhutanese rice varieties. Additionally, with a growing number of health-conscious consumers, there is a rising demand for gluten-free and whole grain options, further fueling the growth of the rice market.
Trends in the market: In Bhutan, the Rice Market within the Bread & Cereal Products Market is witnessing a shift towards organic and sustainably sourced rice. This trend is driven by the increasing demand for healthy and environmentally-friendly food options. Additionally, there is a growing interest in traditional Bhutanese varieties of rice, such as red rice and black rice, which have unique nutritional benefits. This trend is significant for industry stakeholders as it presents opportunities for diversification and differentiation of products. However, it also poses challenges in terms of sourcing and production processes. With the global focus on sustainability, this trend is expected to continue and may lead to increased competition in the market.
Local special circumstances: In Bhutan, the Rice Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the country's unique cultural practices and dietary preferences. Rice is a staple food in Bhutan, and its consumption is deeply ingrained in the Bhutanese culture. This has led to a high demand for rice in the market, with a variety of local rice varieties being produced and sold. Additionally, Bhutan's geographical location, with its mountainous terrain, has also played a role in shaping the rice market dynamics, as it affects the availability and production of rice. Moreover, Bhutan has strict regulations on the import of rice, which has created a protective market for local rice producers. These factors have contributed to the distinct characteristics of the Rice Market in Bhutan, setting it apart from other markets in the region.
Underlying macroeconomic factors: The Rice Market of the Bread & Cereal Products Market within The Food market in Bhutan is influenced by macroeconomic factors such as the country's overall economic health, global economic trends, and fiscal policies. As Bhutan is a small and developing country, it is heavily dependent on its agriculture sector, including rice production. Therefore, any changes in the global economy, such as fluctuations in commodity prices, can greatly impact the rice market in Bhutan. Additionally, government policies and investments in the agriculture sector, as well as infrastructure development, can also affect the performance of the rice market in Bhutan. Moreover, the growing demand for healthy and sustainable food products globally is also expected to drive the market for rice in Bhutan, as the country is known for producing high-quality organic rice.
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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