Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Bhutan has shown minimal growth due to factors such as limited consumer awareness and lack of technological advancements in the country. Despite this, rising health consciousness and convenience of online services are driving the market's slow growth in the Dairy Products & Eggs Market within The Food market.
Customer preferences: With the rise of health consciousness and the growing trend of healthy snacking, the demand for probiotic-rich yogurt has increased in Bhutan. This can be attributed to the cultural belief in the importance of maintaining a balanced diet for overall well-being. Additionally, the increasing number of health-conscious millennials and the growing trend of vegetarianism in the country have also contributed to the rise in demand for yogurt as a healthy and nutritious snack option. As a result, yogurt manufacturers are now focusing on introducing new and innovative flavors and packaging to cater to the evolving preferences of consumers.
Trends in the market: In Bhutan, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and natural yogurt products. This trend is driven by increasing consumer awareness of the health benefits of organic products and a growing preference for locally-sourced ingredients. Additionally, there is a rising trend towards alternative dairy products such as plant-based yogurts, which cater to the increasing number of lactose-intolerant and vegan consumers. These trends are likely to continue in the future, posing both challenges and opportunities for industry stakeholders to innovate and adapt to changing consumer preferences.
Local special circumstances: In Bhutan, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's cultural and religious beliefs. Bhutanese cuisine typically uses yogurt in traditional dishes, and it is considered a staple food. Additionally, due to the Buddhist beliefs of non-violence, the dairy industry in Bhutan is mainly based on traditional, small-scale farms. These unique local factors contribute to the scarcity of large-scale production and marketing of yogurt, creating a niche market with limited competition. Furthermore, Bhutan's strict regulations on imported dairy products also play a significant role in shaping the dynamics of the Yogurt Market.
Underlying macroeconomic factors: The growth of the Yogurt Market in Bhutan is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. With a strong focus on sustainable development and a growing consumer demand for healthy and nutritious food products, the country's dairy industry has been experiencing steady growth. Additionally, government initiatives promoting domestic production and consumption of dairy products, coupled with increasing investments in dairy processing and distribution infrastructure, are expected to further drive the market's growth. Moreover, with a rapidly growing population and rising awareness about the health benefits of yogurt, the demand for this dairy product is expected to continue to increase in the coming years.
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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