Juices - Bhutan

The Juices market in Bhutan has seen significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: In Bhutan, there has been a growing demand for healthier and natural beverages, leading to an increased preference for juices. Consumers are becoming more health-conscious and are seeking beverages that are not only refreshing but also provide nutritional benefits. This shift in consumer preferences towards healthier options has contributed to the growth of the juices market in Bhutan.

Trends in the market: One of the key trends in the juices market in Bhutan is the rising popularity of organic and locally sourced juices. Consumers are increasingly concerned about the origin and quality of the products they consume, and are willing to pay a premium for organic and locally sourced juices. This trend is driven by a desire for healthier and more sustainable options. Another trend in the market is the introduction of innovative and exotic juice flavors. Manufacturers are constantly innovating and introducing new flavors to cater to the evolving tastes of consumers. This trend has been particularly popular among the younger generation, who are more adventurous in their choices and enjoy trying new and unique flavors.

Local special circumstances: Bhutan is known for its rich agricultural resources and diverse fruit varieties. The country's favorable climate and fertile soil make it ideal for fruit cultivation. This abundance of fresh fruits has contributed to the availability of high-quality and locally sourced ingredients for juice production. The use of locally sourced fruits not only ensures freshness but also supports the local economy, making it a unique selling point for Bhutanese juices.

Underlying macroeconomic factors: Bhutan's growing economy and increasing disposable income have also played a role in the development of the juices market. As consumers have more purchasing power, they are able to afford premium and healthier beverage options. The rising middle class in Bhutan has become a key target market for juice manufacturers, driving the growth of the market. In conclusion, the Juices market in Bhutan has experienced significant growth due to changing customer preferences towards healthier options, emerging trends in the market such as organic and innovative flavors, local special circumstances like the availability of fresh and locally sourced fruits, and underlying macroeconomic factors including a growing economy and increasing disposable income. As these factors continue to drive the market, the juices industry in Bhutan is expected to further expand in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.