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The Beer market in Lesotho has been experiencing significant growth in recent years.
Customer preferences: Lesotho has a strong beer-drinking culture, with beer being the most popular alcoholic beverage in the country. This is due to the fact that beer is seen as a social drink that is often consumed during social gatherings and celebrations. Additionally, beer is also considered to be a more affordable option compared to other alcoholic beverages, making it accessible to a wider range of consumers.
Trends in the market: One of the key trends in the beer market in Lesotho is the increasing demand for craft beer. Craft beer is gaining popularity among consumers who are looking for unique and high-quality beer options. This trend is driven by the growing interest in locally produced and artisanal products. Craft breweries in Lesotho are capitalizing on this trend by offering a wide variety of flavors and styles to cater to the diverse preferences of consumers. Another trend in the market is the rise of low-alcohol and non-alcoholic beers. Health-conscious consumers are seeking alternatives to traditional alcoholic beverages, and low-alcohol and non-alcoholic beers provide a lighter and healthier option. This trend is also driven by the increasing awareness of the negative health effects of excessive alcohol consumption. As a result, breweries in Lesotho are expanding their product offerings to include low-alcohol and non-alcoholic beers to cater to this growing demand.
Local special circumstances: Lesotho is a landlocked country with a relatively small population, which presents unique challenges and opportunities for the beer market. The limited access to imported beers has created a demand for locally produced beers. This has led to the growth of domestic breweries in Lesotho, which are able to cater to the specific preferences of the local consumers. Additionally, the country's strong beer-drinking culture has created a loyal customer base for local breweries.
Underlying macroeconomic factors: The growth of the beer market in Lesotho can also be attributed to the country's improving economic conditions. Lesotho has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has allowed consumers to indulge in discretionary purchases such as beer. Additionally, the government's efforts to promote the tourism industry in Lesotho have also contributed to the growth of the beer market, as tourists often seek out local food and beverages when visiting the country. In conclusion, the beer market in Lesotho is experiencing growth due to customer preferences for craft beer and low-alcohol/non-alcoholic options. The country's unique circumstances, such as its strong beer-drinking culture and limited access to imported beers, have also contributed to the growth of the domestic beer market. Furthermore, the improving economic conditions in Lesotho have provided consumers with the means to indulge in discretionary purchases such as beer.
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 alcoholic beverages, 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 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.
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