Soups - Lesotho | Statista Market Forecast

Revenue in the Soups market amounts to US$1.38m in 2024. The market is expected to grow annually by 6.90% (CAGR 2024-2029).
In global comparison, most revenue is generated Indonesia (US$10bn in 2024).
In relation to total population figures, per person revenues of US$0.58 are generated in 2024.
In the Soups market, volume is expected to amount to 388.30k kg by 2029. The Soups market is expected to show a volume growth of 1.7% in 2025.0.
The average volume per person in the Soups market is expected to amount to 0.2kg in 2024.

Definition:

The Soups market covers any type of soup that is ready for consumption immediately after purchase or after heating. These soups require minimal preparation by the consumer and included instant soups that typically come in powdered form and broth or liquid soups that are purchased in prepared form such as tinned soups.

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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Dehydrated soup
Tinned and other packaged soup
Broth
Canned soups and stews
Fondue soup
Frozen soups, Instant miso soup

Other ready-to-eat meals
Out-of-home consumption

The Soups Market in Lesotho has seen minimal growth, influenced by factors such as limited consumer awareness and availability of online services. Despite this, convenience and health consciousness continue to drive the market's slow but steady growth.

Customer preferences: Convenience and ease of preparation continue to be key factors driving the demand for soups in Lesotho. However, there is a growing trend towards healthier and more nutritious options, in line with a global shift towards more health-conscious eating habits. This is reflected in the increasing availability of organic and gluten-free soup options in the market. Additionally, with the rise of busy lifestyles and the need for on-the-go meals, there is a growing demand for single-serve and microwavable soup products.

Trends in the market: In Lesotho, the Soups Market within the Convenience Food Market is showing a shift towards healthier options, with a demand for organic and natural ingredients. This is in line with the global trend of consumers opting for healthier food choices. Additionally, there is a growing demand for convenient and time-saving meal solutions, leading to an increase in the availability of ready-to-eat and ready-to-cook soups. These trends are significant as they reflect changing consumer preferences and lifestyles. Industry stakeholders should focus on innovating and marketing healthier and convenient options to tap into this growing market.

Local special circumstances: In Lesotho, the Soups Market of the Convenience Food Market within The Food market is heavily influenced by the country's unique geographical and cultural factors. Due to its mountainous terrain, the availability and variety of fresh ingredients for soups may be limited, leading to a higher demand for packaged convenience soups. Additionally, Lesotho's traditional cuisine heavily features soups, making it a staple in the local diet. This cultural influence drives the market for soups, with a variety of traditional and modern flavors catering to local taste preferences. Furthermore, the country's limited infrastructure and access to fresh food may also impact the availability and pricing of soups in the market.

Underlying macroeconomic factors: The Soups Market of the Convenience Food Market within The Food market is influenced by macroeconomic factors such as consumer spending power, inflation rates, and government policies. Countries with stable economic conditions and rising disposable incomes are experiencing higher demand for convenience food products, including soups. On the other hand, regions with high inflation rates and weak purchasing power are seeing slower market growth. Additionally, government policies that promote healthy eating habits and encourage the consumption of nutritious foods are also driving the market for healthier soup options.

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.