Spirits - Lesotho | Statista Market Forecast

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$12.9m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$468.8k in 2024.
Revenue, combined amounts to US$13.3m in 2024.
The revenue, at home is expected to grow annually by 5.41% (CAGR 2024-2029).
In global comparison, most revenue, at home is generated China (US$146bn in 2024).
In relation to total population figures, the average revenue per capita, at home of US$5.46 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 1.1m L by 2024.
Volume, out-of-home is expected to amount to 25.3k L in 2024.
Volume, combined is expected to amount to 1.1m L in 2024.
The Spirits market is expected to show a volume growth, at home of 0.0% in 2025.0.
The average volume per person, at home in the Spirits market is expected to amount to 0.45L in 2024.

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Whisky, such as Jack Daniel's Tenessee Whiskey
Vodka, such as Absolut Vodka
Rum, such as Bacardi Rum
Gin, such as Ginebra San Miguel
Brandy, such as Ararat Brandy

Wine, such as Red Wine
Beer, such as Budweiser
Non-Alcoholic Spirits, such as Tanqueray 0.0

The Spirits market in Lesotho has been experiencing significant growth in recent years.

Customer preferences: Lesotho has a strong drinking culture, with spirits being a popular choice among consumers. The younger demographic in particular has shown a growing preference for spirits over other alcoholic beverages. This can be attributed to factors such as changing lifestyles, increased disposable income, and the influence of global trends.

Trends in the market: One of the key trends in the Spirits market in Lesotho is the increasing demand for premium and imported spirits. Consumers are becoming more discerning and are willing to pay a premium for high-quality and unique products. This trend can be attributed to the growing middle class and their desire to indulge in luxury products. Another trend in the market is the rising popularity of flavored spirits. Consumers are seeking new and innovative flavors that enhance their drinking experience. This trend is driven by the increasing influence of international flavors and the desire for variety among consumers.

Local special circumstances: Lesotho is a landlocked country surrounded by South Africa, which has a well-established liquor industry. This proximity to a larger market has allowed for the easy importation of spirits into Lesotho. The availability of a wide range of international spirits has contributed to the growth of the market. Additionally, the tourism industry in Lesotho plays a significant role in the Spirits market. The country attracts a large number of tourists, who often seek out local spirits as souvenirs or to experience the local culture. This has created a demand for locally produced spirits, leading to the growth of local distilleries.

Underlying macroeconomic factors: The growing economy of Lesotho has had a positive impact on the Spirits market. With increasing disposable income, consumers have more purchasing power to spend on luxury goods, including spirits. This has fueled the demand for premium and imported spirits in the market. Furthermore, the government of Lesotho has implemented policies to promote the growth of the alcohol industry. This includes reducing import tariffs on spirits and providing incentives for local distilleries. These policies have encouraged investment in the industry and have contributed to the overall growth of the Spirits market in Lesotho. In conclusion, the Spirits market in Lesotho is experiencing growth due to changing customer preferences, including a preference for premium and imported spirits, as well as the rising popularity of flavored spirits. The local special circumstances, such as the proximity to the South African liquor industry and the influence of the tourism industry, have also contributed to the growth. Additionally, the underlying macroeconomic factors, such as the growing economy and government policies, have supported the development of the market.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The term “spirits” refers to an alcoholic beverage that has been distilled, contains no added sugar, and has at least 20 percent alcohol by volume. The term is derived from the medieval practice of alchemy and refers to the essential liquid element obtained from a substance through distillation, the “spirit” of the substance, so to speak. Popular spirits include whiskey, rum, vodka, tequila, and gin, among others.