Bread - Lesotho | Statista Market Forecast

Bread - Lesotho

Lesotho

Highlights

Revenue in the Bread market amounts to US$16.64m in 2024. The market is expected to grow annually by 8.48% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$80bn in 2024).
In relation to total population figures, per person revenues of US$7.06 are generated in 2024.
In the Bread market, volume is expected to amount to 11.31m kg by 2029. The Bread market is expected to show a volume growth of 6.5% in 2025.0.
The average volume per person in the Bread market is expected to amount to 4.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Bread Market in Lesotho is experiencing subdued growth due to factors like limited consumer awareness and low purchasing power. However, the convenience of online services and increasing health consciousness are driving growth in the Bread & Cereal Products Market within The Food market.

Customer preferences: In Lesotho, there has been a growing preference for healthier bread options, such as whole grain and gluten-free varieties. This can be attributed to a rise in health-conscious consumers and an increasing awareness of the importance of a balanced diet. Furthermore, with the rise of urbanization and busy lifestyles, there has been a shift towards convenient and on-the-go options, leading to a rise in demand for individually packaged breads and baked goods. This trend is expected to continue as more consumers prioritize convenience and healthier choices in their diets.

Trends in the market: In Lesotho, the Bread Market is experiencing a shift towards healthier options, with an increasing demand for whole grain and artisanal breads. This trend is driven by consumer awareness of the health benefits of these products and a desire for more diverse and premium options. As a result, bread producers are investing in new product development and marketing strategies to cater to this demand. This trend is expected to continue, presenting opportunities for industry stakeholders to capitalize on the growing market for healthier bread options. However, it also poses challenges for traditional bread producers who may struggle to adapt to changing consumer preferences. Overall, this trend reflects a larger trend towards healthier eating habits in the Bread & Cereal Products Market within The Food market, and industry stakeholders must adapt to stay relevant in this evolving market.

Local special circumstances: In Lesotho, the Bread Market is heavily influenced by the country's geographical location and limited resources. Due to its landlocked status, Lesotho is heavily dependent on imported wheat, which impacts the availability and prices of bread products. The country's cultural preferences for traditional maize-based products also play a significant role in shaping the bread market. Additionally, the government's regulations on food imports and subsidies for local producers further differentiate the market from others. These factors contribute to a unique dynamic in the Bread Market of Lesotho within the Bread & Cereal Products Market in The Food market.

Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Lesotho is heavily influenced by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. Lesotho's economy heavily relies on agriculture, making the price of bread and other cereal products heavily dependent on the availability of crops and the overall health of the agricultural sector. Additionally, the country's fiscal policies, such as taxation and subsidies, play a significant role in determining the affordability and accessibility of bread products for consumers. Moreover, global economic trends and fluctuations in commodity prices can impact the cost of raw materials used in bread production, ultimately affecting the prices of bread in the market. Therefore, any changes in these macroeconomic factors can significantly impact the performance of the Bread Market in Lesotho.

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.