Key regions: Philippines, China, United States, South Korea, India
The Margarine market within the Oils & Fats sector in Bhutan is witnessing subdued growth, influenced by factors such as traditional cooking preferences, limited awareness of health benefits, and competition from alternative spreads that cater to evolving consumer tastes.
Customer preferences: Consumers in Bhutan are gradually embracing healthier eating habits, fostering a growing interest in plant-based spreads and alternatives to traditional margarine. This shift is influenced by a younger demographic increasingly aware of global health trends and the nutritional value of oils and fats. Additionally, urbanization is leading to more busy lifestyles, prompting the search for convenient, ready-to-use products. As traditional cooking methods evolve, brands that align with these changing preferences and promote health benefits are likely to gain traction in the market.
Trends in the market: In Bhutan, the Margarine Market within the Oils & Fats sector is experiencing a notable shift towards plant-based alternatives and healthier options. As health-conscious consumers increasingly prioritize nutrition, brands are responding with innovative spreads that emphasize natural ingredients and reduced trans fats. The younger demographic, influenced by global dietary trends, is driving demand for convenient, ready-to-use products that fit into their busy lifestyles. This evolution presents significant opportunities for industry stakeholders to develop and market healthier margarine options, ultimately shaping the future landscape of The Food market in Bhutan.
Local special circumstances: In Bhutan, the Margarine Market within the Oils & Fats sector is influenced by the country's unique geographical and cultural landscape. The predominantly agricultural society emphasizes natural and locally sourced ingredients, prompting brands to align their products with traditional Bhutanese values. Additionally, a strong emphasis on Gross National Happiness encourages consumers to prioritize health and well-being, further driving demand for healthier margarine alternatives. Regulatory support for organic farming enhances the appeal of plant-based spreads, creating a distinct market dynamic focused on sustainability and nutrition.
Underlying macroeconomic factors: The Margarine Market in Bhutan is significantly influenced by macroeconomic factors such as national economic stability, global commodity prices, and consumer purchasing power. Bhutan's focus on sustainable development and Gross National Happiness promotes a preference for health-conscious and environmentally friendly products, impacting consumer choices within the oils and fats sector. Additionally, fluctuations in import tariffs and trade policies can affect the cost of raw materials, influencing pricing strategies for margarine producers. Global trends toward plant-based diets further drive innovation in product offerings, while local agricultural initiatives support the supply chain, enhancing market resilience and growth potential.
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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