Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market in Bhutan is seeing slow growth due to factors such as limited consumer awareness and lack of technological advancements in the region. However, increasing health consciousness and the convenience of online services may drive growth in the future. Additional challenges include limited access to substitutes and high import costs.
Customer preferences: As consumers become more health-conscious, there is a growing trend towards plant-based dairy alternatives in Bhutan. This is due to cultural beliefs in vegetarianism and a rise in lactose intolerance. Additionally, with an aging population, there is an increasing demand for fortified dairy products that cater to specific health needs, such as bone health and immune support. This has led to a rise in the production and marketing of functional dairy products, such as probiotic yogurt and vitamin-fortified milk.
Trends in the market: In Bhutan, the Dairy Products & Eggs Market within The Food market is seeing a rise in demand for organic and locally-sourced products. This trend is driven by increasing consumer awareness of the health benefits of these products and the government's push for sustainable and eco-friendly practices. As a result, industry stakeholders are investing in organic farming and production methods. This trend is expected to continue, with potential implications for increased competition and potential for premium pricing for these products.
Local special circumstances: In Bhutan, the Dairy Products & Eggs market is heavily influenced by the country's unique cultural and religious beliefs. As a predominantly Buddhist country, there is a strong preference for vegetarian and dairy-based diets, leading to a high demand for dairy products and eggs. Additionally, Bhutan's small population and mountainous terrain limit the production and distribution of these products, making them more expensive and exclusive. This creates a niche market for high-quality, locally produced dairy and egg products, catering to the country's affluent and health-conscious consumers. These factors contribute to a distinctive market dynamic in Bhutan, setting it apart from other markets in the Food industry.
Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market in Bhutan is influenced by various macroeconomic factors, including global economic trends, national economic health, and fiscal policies. Bhutan's relatively stable economy and government policies that prioritize self-sufficiency and sustainability have contributed to the steady growth of the dairy and eggs market. Additionally, the increasing demand for high-quality, organic dairy and eggs among health-conscious consumers globally has also positively impacted the market. However, the limited land and resources in Bhutan pose a challenge to the growth of the market, highlighting the need for innovative solutions and investments in the dairy and eggs industry.
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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