Confectionery - Lesotho | Statista Market Forecast

Revenue in the Confectionery market amounts to US$61.29m in 2024. The market is expected to grow annually by 7.62% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$84bn in 2024).
In relation to total population figures, per person revenues of US$26.01 are generated in 2024.
In the Confectionery market, volume is expected to amount to 12.00m kg by 2029. The Confectionery market is expected to show a volume growth of 2.8% in 2025.0.
The average volume per person in the Confectionery market is expected to amount to 4.5kg in 2024.

Definition:

The Confectionery market covers food items with a relatively high sugar. Confectionery has a variety of flavorings, colorings, and other components that give them their distinct taste, texture, and appearance. This market is divided into four submarkets: chocolate confectionery, ice cream, preserved pastry goods and cakes and sugar confectionery.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Chocolate products
Sugar confectionery
Ice Cream
Preserved Pastry Goods & Cakes

Nuts
Dried fruit snacks
Chocolate spreads
Desserts
Jams
Out-of-home consumption

The Lesotho Confectionery & Snacks market is experiencing minimal growth, driven by increasing adoption of digital technologies and rising health awareness among consumers. However, challenges in the sub-markets of Chocolate, Sugar, Ice Cream, and Preserved Pastry Goods & Cakes are impacting the overall market's growth rate.

Customer preferences: As in the previous paragraph, consumers in Lesotho are also showing a growing interest in digital health solutions. This includes a rise in demand for fitness tracking apps and wearable devices to monitor and improve their health. Additionally, online doctor consultations have gained popularity among those seeking convenient and timely medical advice. This trend is driven by the need for remote management and monitoring of chronic conditions, as well as the increasing availability of digital treatment and care options.

Trends in the market: In Lesotho, the Confectionery market is experiencing a surge in demand for healthy and organic snacks, driven by growing health consciousness among consumers. This trend is expected to continue, with a rise in the number of specialty and artisanal confectionery products being introduced. This shift towards healthier options is also being supported by government initiatives to promote healthy eating habits. Additionally, there is a growing trend of online shopping for confectionery products, with e-commerce platforms offering a wide variety of options and convenient delivery services. These trends are significant for industry stakeholders as they present opportunities for product innovation and expansion into new distribution channels. However, it also poses challenges for traditional confectionery brands to adapt and differentiate themselves in a market that is becoming increasingly health-focused.

Local special circumstances: In Lesotho, the Confectionery Market is shaped by the country's unique geographical and cultural factors. The mountainous terrain and isolated location have led to a predominantly rural population with limited access to imported products, making locally produced confectionery a popular choice. Additionally, cultural preferences for sweet and savory snacks have driven the demand for a wide variety of confectionery products. The country's regulatory environment, with strict import regulations and high tariffs on imported goods, also plays a significant role in shaping the market dynamics.

Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market in Lesotho is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and overall economic stability. With a growing middle class and increasing disposable income, the demand for confectionery products is expected to rise. Additionally, favorable government policies and investments in infrastructure development are creating a conducive environment for market growth. However, the market is also impacted by global economic trends, such as fluctuations in commodity prices and exchange rates, which can affect the cost of raw materials and ultimately impact market performance.

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.