Key regions: Japan, Philippines, United Kingdom, India, South Korea
The Other Dairy Products & Eggs market in Bhutan is experiencing minimal growth, influenced by factors such as changing consumer preferences and limited availability of resources. Despite this, the market is expected to see a steady increase in demand due to the growing health consciousness among consumers and the convenience offered by online services.
Customer preferences: A growing interest in plant-based diets is driving demand for alternative dairy products such as almond milk and coconut yogurt. This trend is particularly prevalent in Bhutan, where Buddhism promotes a vegetarian lifestyle. Additionally, the rise in health-consciousness and concerns over animal welfare are also influencing consumers to opt for dairy-free options. This shift towards plant-based dairy alternatives is expected to continue in the coming years.
Trends in the market: In Bhutan, the Other Dairy Products & Eggs Market of the Dairy Products & Eggs Market within The Food market is seeing a trend towards increased demand for organic and locally-sourced dairy products. This trend is driven by consumer preferences for healthier and more sustainable food options. Additionally, there is a growing focus on product innovation, with companies introducing new flavors and formats to cater to changing consumer tastes. These trends are expected to continue, with potential implications for industry stakeholders including increased competition and the need for continued product development and marketing efforts.
Local special circumstances: In Bhutan, the Other Dairy Products & Eggs Market is heavily influenced by the country's unique cultural practices and beliefs. Bhutanese cuisine traditionally includes dairy products such as cheese, butter, and yogurt, which are considered essential for a balanced diet. This cultural preference for dairy consumption has led to a steady demand for these products in the country. Additionally, the government's strict regulations on imported dairy products have created a favorable market for local dairy producers, driving the growth of the Other Dairy Products & Eggs Market in Bhutan.
Underlying macroeconomic factors: The Other Dairy Products & Eggs Market within the Dairy Products & Eggs Market of The Food market in Bhutan is impacted by several macroeconomic factors. These include global economic trends, as well as the national economic health of the country. Bhutan's fiscal policies and other relevant financial indicators also play a significant role in influencing the performance of this market. For instance, favorable regulatory environments and strong investment in dairy production and infrastructure can lead to faster market growth. In addition, the increasing demand for dairy products and eggs due to rising health concerns and changing dietary habits also contribute to the growth of this market.
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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