Key regions: India, Canada, Spain, Philippines, United Kingdom
The Nuts Market in Bhutan has been experiencing subdued growth due to various factors such as limited availability of nuts, slow adoption of digital technologies, and low health awareness among consumers. However, online services are offering convenience and may drive growth in the future.
Customer preferences: In Bhutan, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a shift towards healthier snack options, driven by a growing awareness of the importance of nutrition and wellness. This has led to an increase in demand for nuts, which are seen as a nutritious and convenient snack. Additionally, the rise of veganism and plant-based diets has also contributed to the popularity of nuts as a healthy and sustainable protein source.
Trends in the market: In Bhutan, the Nuts Market within the Fruits & Nuts Market is experiencing an increasing demand for organic and sustainably sourced nuts. Consumers are becoming more conscious of their food choices and are willing to pay a premium for ethically produced nuts. This trend is expected to continue as more consumers prioritize health and sustainability in their purchasing decisions. Industry stakeholders should consider investing in sustainable sourcing practices and promoting the health benefits of nuts to capitalize on this growing trend. Additionally, with the rise of e-commerce and online shopping in Bhutan, there is an opportunity for stakeholders to tap into the online market for nuts and expand their customer base.
Local special circumstances: In Bhutan, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's agricultural practices, which prioritize organic and sustainable methods. This has resulted in a niche market for high-quality, ethically-sourced nuts, appealing to health-conscious consumers. Additionally, Bhutan's strong cultural emphasis on traditional medicine and holistic wellness has led to a demand for nut-based products with medicinal properties. These factors contribute to a unique market dynamic, with a focus on quality and wellness rather than price.
Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is greatly impacted by macroeconomic factors such as global trade policies, national economic health, and consumer purchasing power. In countries with stable economic conditions and favorable trade policies, the demand for nuts is high due to their nutritional value and versatility in cooking. On the other hand, regions facing economic challenges and trade restrictions may experience slower market growth due to limited consumer spending and higher prices of imported nuts. Additionally, the increasing trend towards healthy snacking and the growing popularity of plant-based diets are driving the demand for nuts, especially in regions with high disposable income and health-conscious consumers.
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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