Meat - Bhutan

Bhutan

Revenue in the Meat market amounts to €191.20m in 2024. The market is expected to grow annually by 10.07% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€251bn in 2024).
In relation to total population figures, per person revenues of €241.30 are generated in 2024.
In the Meat market, volume is expected to amount to 39.65m kg by 2029. The Meat market is expected to show a volume growth of 6.8% in 2025.
The average volume per person in the Meat market is expected to amount to 37.6kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Meat Market in Bhutan is witnessing moderate growth, attributed to factors such as increasing demand for fresh and processed meat, rising health consciousness among consumers, and the introduction of meat substitutes. However, the growth rate is subdued due to the high cost of meat and limited availability of substitutes.

Customer preferences: Consumers in Bhutan have traditionally favored a primarily vegetarian diet due to cultural and religious influences. However, as the country continues to modernize and urbanize, there has been a growing demand for meat products in the market. This shift in preferences is driven by changing demographics and evolving lifestyle factors, such as the adoption of a more Westernized diet and an increase in disposable income. As a result, there has been a rise in the availability and variety of meat products in The Food market, catering to the changing preferences of consumers.

Trends in the market: In Bhutan, the Meat Market within The Food market market is experiencing a shift towards organic and ethically sourced meat products. This trend is driven by increasing consumer awareness and demand for sustainable and environmentally friendly options. Additionally, there is a rise in demand for plant-based meat alternatives, as more people are adopting flexitarian or vegetarian diets. These trends are expected to continue, with potential implications for industry stakeholders such as producers, retailers, and restaurants. They may need to adapt their offerings and sourcing strategies to cater to changing consumer preferences and stay competitive in the market.

Local special circumstances: In Bhutan, the Meat Market within The Food market is heavily influenced by the country's unique cultural and religious practices. As a predominantly Buddhist nation, many Bhutanese follow a vegetarian diet, leading to a limited demand for meat products. Additionally, the government's emphasis on sustainability and environmental conservation has resulted in stringent regulations on the meat industry, further impacting market dynamics. This has led to a smaller and more specialized meat market, with a focus on locally sourced and organic options.

Underlying macroeconomic factors: The Meat Market within The Food market in Bhutan is heavily influenced by macroeconomic factors such as the country's economic growth, government policies, and global market trends. With Bhutan's economy growing at a steady pace, there is a growing demand for meat products in the country. Additionally, the government's focus on promoting self-sufficiency in food production has led to increased investment in the agriculture sector, which includes the meat market. Furthermore, Bhutan's participation in global trade agreements and its efforts towards diversifying its export market have also positively impacted the meat market. However, challenges such as limited land availability and high production costs can hinder the growth of the market.

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.