Key regions: Russia, India, Canada, Japan, South Korea
The Milk Market in Bhutan is facing subdued growth due to various factors such as low consumer awareness, limited availability of digital technologies, and lack of convenience in online services. Despite this, the market continues to experience steady growth within the Dairy Products & Eggs Market in The Food market, driven by increasing demand for dairy products in the country.
Customer preferences: As consumers become more health-conscious, there has been a growing demand for organic and locally sourced milk in Bhutan. This trend is driven by a cultural preference for natural and sustainable food options. Additionally, there has been a shift towards dairy alternatives, such as plant-based milk, as more consumers embrace plant-based diets for health and environmental reasons. This trend is also influenced by the millennial and Gen Z population, who are more likely to choose products that align with their values and beliefs.
Trends in the market: In Bhutan, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards organic and locally sourced milk products. This trend is being driven by increasing consumer demand for healthier and more sustainable options. Additionally, there is a growing interest in value-added dairy products, such as flavored milk and yogurt. These trends are significant for industry stakeholders as they provide opportunities for diversification and expansion. However, there may also be challenges in meeting consumer demands and maintaining quality standards, highlighting the need for innovation and efficient supply chain management.
Local special circumstances: In Bhutan, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's unique geographical and cultural factors. Due to the mountainous terrain and limited agricultural land, dairy production is primarily small-scale and localized, with a focus on traditional methods. In addition, the country's strong Buddhist beliefs and cultural traditions have led to a preference for organic and locally-sourced dairy products. This has created a niche market for premium dairy products, catering to the growing demand for healthier and sustainable food options among the Bhutanese population.
Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Bhutan is heavily impacted by macroeconomic factors such as the country's economic stability, global demand for dairy products, and government policies on agriculture and trade. Bhutan's strong focus on sustainable development and organic farming has led to a rise in demand for high-quality, locally produced milk products. Additionally, the country's growing tourism industry has also contributed to the demand for dairy products, as many tourists seek out authentic and traditional Bhutanese food experiences. However, the market also faces challenges such as limited access to technology and infrastructure, which can hinder production and distribution. Overall, the Milk Market in Bhutan is expected to grow steadily, driven by both domestic and international demand for high-quality dairy products.
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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