Cheese - Lesotho | Statista Market Forecast

Cheese - Lesotho

Lesotho

Highlights

Revenue in the Cheese market amounts to US$1.04m in 2024. The market is expected to grow annually by 8.20% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$32bn in 2024).
In relation to total population figures, per person revenues of US$0.44 are generated in 2024.
In the Cheese market, volume is expected to amount to 114.70k kg by 2029. The Cheese market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Cheese market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The cheese market in Lesotho has seen minimal growth due to factors such as low consumer demand, limited production capabilities, and competition from other dairy products. Despite this, the market remains stable and continues to provide a source of income for local farmers and producers.

Customer preferences: The Cheese Market in Lesotho has seen a rise in demand for artisanal and locally sourced cheese, as consumers become more conscious of the environmental and social impact of their food choices. This trend is driven by a growing interest in supporting small-scale producers and promoting sustainable farming practices. Additionally, there is a rise in demand for plant-based cheese alternatives, as more consumers are adopting vegetarian and vegan diets for health and ethical reasons. This shift in preferences towards sustainable and plant-based options is also influenced by cultural and religious beliefs, as Lesotho has a significant vegetarian population.

Trends in the market: In Lesotho, the Dairy Products & Eggs Market is experiencing a growing demand for cheese due to its versatility and convenience. This trend is expected to continue as consumers seek out more convenient and nutritious food options. The market is also witnessing an increase in the use of technology, with online ordering and delivery services becoming more popular. This trend is significant as it allows for easier access to cheese products and provides opportunities for industry stakeholders to expand their reach. However, it also poses challenges for traditional brick-and-mortar retailers. Additionally, there is a shift towards healthier and artisanal cheese options, indicating a potential for premiumization in the market. Industry players should keep a close eye on these trends and adapt their strategies accordingly to stay competitive in the evolving Cheese Market of the Dairy Products & Eggs Market within The Food market.

Local special circumstances: In Lesotho, the Cheese Market of the Dairy Products & Eggs Market within The Food market is not as developed as in other countries due to the limited availability of dairy farms and production facilities. This is largely due to the country's rugged terrain and high altitudes, making it challenging to produce dairy products. Additionally, cultural preferences for meat-based diets and limited consumer awareness about the benefits of cheese also impact the market. However, the government's efforts to promote dairy farming and improve infrastructure are expected to drive market growth in the coming years.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market in Lesotho is influenced by macroeconomic factors such as the country's overall economic stability, consumer purchasing power, and government policies on agriculture and trade. Lesotho's small but growing economy and increasing urbanization have led to a rise in demand for dairy products, including cheese. Additionally, the government's efforts to diversify and modernize the agricultural sector have created opportunities for dairy farmers and processors, contributing to the growth of the cheese market. However, challenges such as limited access to capital and infrastructure remain barriers to market expansion.

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.