Confectionery & Snacks - Lesotho

Lesotho

Highlights

Revenue in the Confectionery & Snacks market amounts to US$81.81m in 2024. The market is expected to grow annually by 8.29% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$135bn in 2024).
In relation to total population figures, per person revenues of US$34.73 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 16.79m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 3.7% in 2025.0.
The average volume per person in the Confectionery & Snacks market is expected to amount to 6.1kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Confectionery & Snacks market in Lesotho has seen slow growth due to factors such as limited consumer spending, low disposable income, and high competition from traditional snacks. However, with increasing urbanization and changing consumer preferences, the market is expected to experience moderate growth in the coming years.

Customer preferences: Consumers in Lesotho are increasingly looking for healthier snacking options, leading to a rise in demand for plant-based snacks and organic confectionery products. This trend is influenced by a growing awareness of sustainable and ethical food choices, as well as a desire for natural and clean-label ingredients. Additionally, the rise in health and wellness trends has also led to an increase in demand for functional snacks that offer added benefits, such as energy-boosting or stress-relieving properties. This shift towards healthier snacking options is driven by evolving lifestyle factors and a desire for improved overall well-being.

Trends in the market: In Lesotho, the Confectionery & Snacks market is experiencing a rise in demand for healthier snack options, driven by a growing health-conscious population. This trend is expected to continue as consumers become more aware of the negative health impacts of traditional sugary snacks. As a result, there is a shift towards healthier and more natural ingredients, such as whole grains and plant-based alternatives. This trend presents opportunities for industry players to diversify their product offerings and cater to the evolving consumer preferences. Additionally, this trend has implications for the overall food market, as it reflects a larger shift towards healthier eating habits and a demand for transparency in food production. Industry stakeholders should take note of this trend and adapt their strategies to cater to the changing consumer landscape.

Local special circumstances: In Lesotho, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's geographical location as a landlocked nation surrounded by South Africa. This has resulted in a reliance on imported products, leading to higher prices for local consumers. Additionally, cultural preferences and dietary habits play a significant role, with a preference for traditional snacks and sweets made from locally sourced ingredients. Regulatory policies also impact the market, with strict regulations on food safety and labeling, as well as limited access to credit for small-scale producers. These factors contribute to a unique market landscape for confectionery and snacks in Lesotho.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Lesotho is significantly impacted by macroeconomic factors such as consumer spending power, inflation rates, and trade policies. The country's economic stability and growth potential play a crucial role in market performance, as well as global economic trends and fiscal policies. With a growing urban population and increasing disposable income, there is a rising demand for convenience foods and indulgent snacks, driving market growth. However, fluctuations in currency exchange rates, import/export regulations, and trade agreements can influence the availability and pricing of imported confectionery and snacks, affecting market dynamics 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.