Key regions: South Korea, Russia, Canada, Philippines, China
The Fresh Meat Market in Bhutan is facing subdued growth due to various factors such as limited availability of land for livestock farming, high production costs, and cultural preferences for vegetarian diets. However, there is potential for growth driven by increasing awareness of the nutritional benefits of consuming fresh meat and the convenience of online ordering and delivery services. Despite challenges, the market is expected to experience moderate growth in the coming years.
Customer preferences: As consumers become more health-conscious, there is a growing demand for fresh, locally-sourced meat in the Meat Market within The Food market. This trend is driven by a desire for sustainable and ethically-raised products, as well as a preference for traditional and natural foods. Additionally, with an increasing focus on supporting local businesses, consumers are turning to small-scale, independent meat producers rather than large-scale industrial operations. This shift towards conscious consumption and support for local communities is expected to continue driving the growth of the Fresh Meat Market in Bhutan.
Trends in the market: In Bhutan, the Fresh Meat Market of the Meat Market within The Food market is experiencing a surge in demand for organic and locally sourced meat products. This trend is driven by increasing consumer awareness about the health benefits of organic meat and the desire to support local farmers. As a result, there has been a rise in the number of small-scale meat producers and butchers, offering a wider range of premium and specialty meats. This trend is likely to continue in the coming years, as consumers become more conscious about the quality and source of their meat, creating opportunities for smaller players in the market to thrive. Additionally, this trend has implications for larger meat producers, who may need to adapt their sourcing and production methods to meet the growing demand for organic and locally sourced meat.
Local special circumstances: In Bhutan, the Fresh Meat Market of the Meat Market within The Food market is heavily influenced by the country's cultural and religious beliefs. The majority of the population practices Buddhism, which promotes a vegetarian or plant-based diet. This leads to a relatively small market for meat products compared to other countries. Additionally, the government has strict regulations on the slaughter and consumption of animals, further limiting the availability and variety of meat products in the market. These factors contribute to a unique market dynamic that differs from other countries in the region, creating challenges and opportunities for businesses in the Fresh Meat Market.
Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Bhutan is heavily influenced by macroeconomic factors. Global economic trends, national economic health, fiscal policies, and other financial indicators all play a role in shaping the performance of this market. For instance, the rising income levels and increasing demand for high-quality meat products due to improving economic conditions in Bhutan are driving the growth of this market. Additionally, favorable government policies and investments in the agriculture sector are supporting the production and supply of fresh meat, leading to market expansion. However, challenges such as limited access to credit and inadequate infrastructure for processing and distribution remain key barriers to market growth.
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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