Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in Bhutan is experiencing subdued growth due to various factors such as low consumer awareness and limited access to digital technologies. However, the market for Tortilla Chips, Flips & Pretzels, Potato Chips and Cookies & Crackers is still expected to grow due to increasing demand for convenient and affordable snack options in the country. Factors such as changing consumer preferences and the introduction of new product varieties are also likely to contribute to the market's growth.
Customer preferences: As health consciousness continues to rise, consumers in Bhutan are increasingly opting for healthier snack options. This trend is driven by a growing awareness of the impact of diet on overall well-being. As a result, there has been a surge in demand for plant-based and organic snack products. Moreover, with the rise of e-commerce platforms, consumers are also able to access a wider range of healthy snack options from both local and international brands.
Trends in the market: In Bhutan, the Snack Food Market of the Confectionery & Snacks Market within The Food market is seeing a shift towards healthier, more natural snack options. This trend is driven by consumer demand for nutritious and clean label products. Additionally, there is a growing focus on sustainable snacking, with companies exploring eco-friendly packaging and sourcing ingredients ethically. These trends are expected to continue, as consumers become more health-conscious and environmentally aware. Industry stakeholders need to adapt to these changing preferences to stay competitive in the market.
Local special circumstances: In Bhutan, the Snack Food Market of the Confectionery & Snacks Market within The Food market is influenced by the country's unique cultural and regulatory circumstances. With a strong emphasis on traditional and organic foods, Bhutan's snack food market primarily consists of locally grown and produced snacks. Additionally, Bhutan's strict regulations on imported food products have limited the presence of popular international snack brands, creating a strong demand for locally made snacks. This has also led to the growth of small-scale snack businesses, contributing to the country's economy and promoting sustainable practices.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending patterns, disposable income levels, and changing consumer preferences. In Bhutan, the market is also affected by national economic health and fiscal policies. As the country continues to experience steady economic growth and rising disposable incomes, consumers are increasingly seeking convenient and affordable snack options. Additionally, with the growing trend towards healthy snacking and the increasing availability of international snack brands, the market is expected to witness significant growth in the coming years. However, factors such as fluctuating commodity prices and changing consumer tastes and preferences could also impact market performance.
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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