Market Insights Consumer Food Convenience Food

Soups - Bhutan

Bhutan

Revenue in the Soups market amounts to €1.27m in 2024. The market is expected to grow annually by 6.86% (CAGR 2024-2029).
In global comparison, most revenue is generated in Indonesia (€9,282m in 2024).
In relation to total population figures, per person revenues of €1.61 are generated in 2024.
In the Soups market, volume is expected to amount to 345.20k kg by 2029. The Soups market is expected to show a volume growth of 2.0% in 2025.
The average volume per person in the Soups market is expected to amount to 0.4kg in 2024.

Key regions: United Kingdom, Russia, Philippines, United States, Spain

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

In Bhutan, the Convenience Food Market's Soups segment has seen moderate growth due to factors like increasing demand for convenient and easy-to-prepare meals. However, the market's growth rate remains minimal due to limited access to digital technologies and lower health awareness among consumers.

Customer preferences: In Bhutan, traditional soups made with locally grown ingredients are gaining popularity among health-conscious consumers. This trend is driven by a growing awareness of the benefits of consuming fresh, nutrient-dense foods. Additionally, the convenience factor of instant soup mixes is appealing to busy individuals seeking quick and easy meal options. This shift towards healthier and more convenient soup choices reflects the cultural emphasis on holistic wellness in Bhutanese society.

Trends in the market: In Bhutan, the Soups Market of the Convenience Food Market within The Food market is seeing a surge in demand for healthy and convenient options. This trend is driven by a growing awareness of the importance of nutrition and a busy lifestyle among consumers. As a result, there is a rise in the availability of ready-to-eat soups made with natural and organic ingredients. This has significant implications for industry stakeholders, as they must cater to this demand and also ensure the sustainability and traceability of their products. In addition, there is potential for the introduction of innovative packaging and flavors to attract and retain customers in the competitive market.

Local special circumstances: In Bhutan, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's unique cultural and religious practices. Due to the predominance of Buddhism, a large portion of the population follows a vegetarian or vegan diet, leading to a demand for plant-based soups. Additionally, Bhutan's remote and mountainous terrain limits access to fresh ingredients, resulting in a reliance on canned and packaged soup products. These factors also impact the availability and pricing of soups in the market.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending power, economic stability, and government regulations. Countries with strong economic growth and stable political environments tend to see higher demand for convenience food products, including soups. Similarly, favorable fiscal policies and investments in food infrastructure can also boost market growth. On the other hand, economic downturns and strict regulations on food imports and exports can hinder market growth and disrupt supply chains. Additionally, changing consumer preferences and health concerns also play a significant role in shaping the soups market within the convenience food industry.

Methodology

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.