Yogurt Substitutes - Lesotho

Lesotho

Highlights

Revenue in the Yogurt Substitutes market amounts to US$259.20k in 2024. The market is expected to grow annually by 5.74% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$470m in 2024).
In relation to total population figures, per person revenues of US$0.11 are generated in 2024.
In the Yogurt Substitutes market, volume is expected to amount to 28.92k kg by 2029. The Yogurt Substitutes market is expected to show a volume growth of 3.8% in 2025.0.
The average volume per person in the Yogurt Substitutes market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Yogurt Substitutes Market in Lesotho is experiencing minimal growth, impacted by factors such as limited consumer awareness and availability of alternatives. This trend is expected to continue due to the slow adoption of digital technologies and traditional preferences for dairy products in the region.

Customer preferences: Consumers in Lesotho are increasingly turning towards plant-based yogurt substitutes as they prioritize health and sustainability. This trend is driven by the growing awareness of the environmental impact of dairy production and a shift towards a more plant-based diet. Additionally, the rise of veganism and lactose intolerance among the younger population has also contributed to the popularity of yogurt substitutes in the market.

Trends in the market: In Lesotho, the Yogurt Substitutes Market is experiencing a surge in demand for plant-based yogurt alternatives, driven by a growing vegan and health-conscious population. This trend is mirrored in the global market, with a rise in non-dairy options and innovative formulations, such as coconut and almond-based yogurts. This trajectory is significant as it reflects a shift towards healthier and more sustainable food options, presenting opportunities for industry stakeholders to tap into this growing market segment. Additionally, the availability of these substitutes presents potential implications for traditional dairy manufacturers, who may need to adapt to the changing consumer preferences.

Local special circumstances: 'In Lesotho, the consumption of dairy products is relatively low due to the country's predominantly rural population and limited access to refrigeration. This has led to a higher demand for shelf-stable dairy alternatives, such as yogurt substitutes made from plant-based ingredients. Additionally, cultural preferences for lactose-free options and a growing health consciousness have also contributed to the popularity of yogurt substitutes in the market. However, the lack of regulatory standards and strict labeling requirements pose challenges for manufacturers looking to enter the market.

Underlying macroeconomic factors: The Yogurt Substitutes Market in Lesotho is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The country's economic stability and growth play a crucial role in the demand for yogurt substitutes. Furthermore, the availability of resources and investment in the dairy industry also impact the market performance. Lesotho's economy heavily relies on agriculture, making it vulnerable to fluctuations in global food prices and weather conditions. The government's fiscal policies and investments in the agricultural sector can greatly affect the production and distribution of yogurt substitutes. Additionally, the country's population and demographic trends, including the prevalence of lactose intolerance, can shape the demand for alternative dairy products like yogurt substitutes.

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.