Key regions: South Korea, Philippines, Canada, United States, Japan
The Spreads & Sweeteners market in Bhutan is facing subdued growth, influenced by factors such as the increasing demand for healthier alternatives, growing health consciousness among consumers, and the convenience of online purchasing. Despite the slow growth, the Honey sub-market is expected to drive the overall market due to its natural and organic appeal, while the Sugar and Artificial Sweeteners sub-markets face challenges due to concerns over their health effects.
Customer preferences: Consumers in Bhutan are increasingly turning towards natural and organic sweeteners, such as honey and maple syrup, as a healthier alternative to traditional sugar. This trend is influenced by the country's strong emphasis on Buddhism, which promotes a mindful and balanced approach to food. Additionally, as the population becomes more health-conscious, there is a growing demand for low-calorie and sugar-free sweeteners, driven by concerns over diabetes and obesity. This shift towards healthier options is also evident in the rising popularity of plant-based sweeteners, such as stevia and monk fruit, as consumers seek out more sustainable and ethical choices.
Trends in the market: In Bhutan, the Spreads & Sweeteners Market within The Food market is seeing a significant increase in demand for natural and organic sweeteners, driven by a growing health-conscious population. This trend is expected to continue, with consumers becoming more aware of the negative health effects of artificial sweeteners. As a result, industry stakeholders are investing in research and development to create innovative and healthy sweetener options. Additionally, there is a rising demand for sugar-free and low-calorie spreads, leading to the introduction of new products in the market. This trend is expected to have a positive impact on the overall growth of the Sweeteners Market, providing opportunities for market players to expand their product offerings and cater to the evolving consumer preferences.
Local special circumstances: In Bhutan, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's unique cultural practices and beliefs. Bhutanese cuisine traditionally uses natural sweeteners like honey and jaggery, making it challenging for artificial sweeteners to gain traction. Additionally, Bhutan's strict regulations on food imports and emphasis on organic and sustainable agriculture limit the availability of imported sweeteners. These factors contribute to a slower growth rate in the Sweeteners Market compared to other countries, but also create opportunities for locally sourced and natural sweeteners to thrive.
Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with stable economic conditions and supportive fiscal policies tend to have a more favorable market environment for sweeteners, resulting in higher market growth. Additionally, the increasing health consciousness and demand for healthier food options worldwide have led to a rise in the demand for natural and low-calorie sweeteners, driving market growth. However, regions with economic challenges and limited consumer spending power may experience slower market growth due to lower demand for premium sweeteners.
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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