Convenience Food - Lesotho

Lesotho

Highlights

Revenue in the Convenience Food market amounts to US$39.40m in 2024. The market is expected to grow annually by 8.07% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$154bn in 2024).
In relation to total population figures, per person revenues of US$16.72 are generated in 2024.
In the Convenience Food market, volume is expected to amount to 10.23m kg by 2029. The Convenience Food market is expected to show a volume growth of 3.0% in 2025.0.
The average volume per person in the Convenience Food market is expected to amount to 3.8kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Convenience Food Market in Lesotho has seen limited growth due to factors such as low disposable income, limited access to technology, and traditional food preferences. However, with increasing urbanization and busy lifestyles, the Ready-to-Eat Meals and Soups sub-markets are expected to drive growth in the overall market. Additionally, government initiatives to promote healthier food options and the availability of online food delivery services may also contribute to market growth.

Customer preferences: Convenience has become a top priority for consumers in Lesotho, leading to a rise in demand for ready-to-eat and easy-to-prepare convenience foods. This trend is driven by the country's fast-paced urban lifestyle and the growing number of working individuals. As a result, there has been an increase in the availability and variety of convenience food options in the market, catering to different dietary preferences and cultural influences. Moreover, the convenience food market has also seen a shift towards healthier and more natural options, as health and wellness concerns continue to drive consumer choices.

Trends in the market: In Lesotho, the Convenience Food Market within The Food market is experiencing a rise in demand for healthier and more sustainable options. This trend is driven by a growing awareness of the negative health and environmental impacts of traditional convenience foods. As a result, there is a shift towards plant-based and organic convenience options, as well as an increase in demand for locally sourced ingredients. This trend is expected to continue, presenting opportunities for industry stakeholders to adapt their offerings and cater to this growing market segment. Additionally, there is a potential for collaborations between convenience food manufacturers and local farmers to promote sustainable and ethical practices in the supply chain.

Local special circumstances: In Lesotho, the Convenience Food Market is heavily influenced by the limited access to fresh, affordable produce due to the country's mountainous terrain and high poverty rates. As a result, convenience stores and street vendors play a crucial role in providing quick and accessible food options. Additionally, the traditional Basotho diet, which consists of maize, sorghum, and beans, has led to a preference for convenience foods such as instant porridge, canned goods, and snack foods. This unique blend of geographical and cultural factors has shaped the Convenience Food Market in Lesotho, making it crucial for businesses to understand and cater to these local preferences.

Underlying macroeconomic factors: The Convenience Food Market within The Food market in Lesotho is heavily influenced by macroeconomic factors such as consumer disposable income, inflation rates, and government policies relating to food imports and exports. The rising disposable income and urbanization in the country have led to a shift towards convenience foods as a time-saving and affordable meal option. However, the high inflation rates and import restrictions on certain food products have led to increased prices, impacting the purchasing power of consumers. Additionally, government initiatives to promote local food production and reduce reliance on imports may also affect the availability and variety of convenience food options in the market.

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.