Key regions: Russia, United States, United Kingdom, Canada, India
The Ready-to-Eat Meals Market in Bhutan is experiencing subdued growth due to factors such as limited access to online services, lower consumer awareness of health benefits, and slower adoption of digital technologies. Despite this, convenience offered by these meals is expected to drive growth in the market.
Customer preferences: One notable shift in the Ready-to-Eat Meals Market within the Convenience Food Market is the increasing demand for healthier, plant-based options. As consumers become more health-conscious and environmentally aware, there has been a rise in the popularity of vegetarian and vegan ready-to-eat meals. This trend is influenced by Bhutan's cultural emphasis on a plant-based diet and the growing number of health-conscious millennials who prioritize ethical and sustainable food choices. Additionally, with busier lifestyles and a desire for convenience, there is a growing demand for single-serve, portion-controlled meals that cater to individual dietary preferences.
Trends in the market: In Bhutan, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is experiencing a surge in demand due to the increasing number of working professionals and busy lifestyles. This trend is expected to continue, with a projected growth of 8.5% from 2021 to 2026. With the rise of e-commerce and online food delivery services, consumers are increasingly turning to convenient and ready-to-eat meal options. This shift towards convenience is also driven by the growing awareness of healthy eating habits, with companies introducing healthier and organic options in their ready-to-eat meal offerings. These trends present opportunities for industry stakeholders to innovate and cater to the evolving needs of consumers in Bhutan.
Local special circumstances: In Bhutan, the Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is influenced by the country's unique cultural and geographical factors. The traditional Bhutanese diet is heavily based on rice, vegetables, and dairy, making it challenging for imported ready-to-eat meals to gain traction. Additionally, the government's strict regulations on imported food products, especially those containing preservatives and additives, have limited the growth of this market. As a result, local brands have emerged, offering healthier and more natural options that cater to the preferences of Bhutanese consumers.
Underlying macroeconomic factors: The Ready-to-Eat Meals Market of the Convenience Food Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending, inflation rates, and overall economic growth. With a stable economy and growth in disposable income, consumers are more likely to purchase convenience food products, including ready-to-eat meals. In addition, government policies and regulations regarding food safety and labeling can also influence market performance. Moreover, global economic trends, such as increasing urbanization and changing lifestyles, are also contributing to the growth of the ready-to-eat meals market, as busy consumers seek quick and easy meal solutions.
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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