Nuts - Lesotho | Statista Market Forecast

Revenue in the Nuts market amounts to US$3.31m in 2024. The market is expected to grow annually by 5.21% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$11bn in 2024).
In relation to total population figures, per person revenues of US$1.41 are generated in 2024.
In the Nuts market, volume is expected to amount to 760.30k kg by 2029. The Nuts market is expected to show a volume growth of 1.4% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 0.3kg in 2024.

Definition:

The Nuts market covers edible nuts both shelled and unshelled. Nuts are classified as dry, single-seeded fruits that contain a lot of oil. Some examples include almonds, peanuts, walnuts, hazelnuts, and pistachios.

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.

For more information on the displayed data, click the info button on the right side of each box.

Almonds
Peanuts
Walnuts
Hazelnuts
Other nuts
Nut snack packs without other ingredients
Whole nuts in the shell, shelled nuts Nuts
Raw nut, roasted nuts
Salted and unsalted nuts, flavored nuts

Nut and seed mixes (e.g. trail mix)
Out-of-home consumption

The Nuts Market in Lesotho has seen minimal growth due to factors such as limited consumer awareness, lack of digital infrastructure, and high import costs. However, with increasing health consciousness and expanding food industry, the market is expected to experience gradual growth in the near future.

Customer preferences: As consumers in Lesotho become more health-conscious, there has been a notable shift towards organic and locally sourced nuts in the Nuts Market of the Fruits & Nuts Market within The Food market. This trend is driven by a growing awareness of the health benefits of nuts and a desire to support local farmers. Additionally, there is an increasing demand for plant-based protein alternatives, with nuts being a popular choice. This can be attributed to cultural and lifestyle factors, as Lesotho has a large vegetarian population and a growing interest in sustainable and ethical food choices.

Trends in the market: In Lesotho, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a demand for organic and sustainably sourced nuts. This trend is being driven by a growing awareness and preference for healthy and environmentally-friendly food choices among consumers. There is also a rising demand for unique and exotic types of nuts, such as macadamia and cashews. These trends are expected to continue in the coming years, presenting opportunities for industry stakeholders to tap into niche markets and differentiate their offerings. Additionally, there is a potential for increased competition among suppliers as more players enter the market to cater to this growing demand.

Local special circumstances: In Lesotho, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's mountainous geography and cool climate, which allows for the growth of a variety of nut trees. Additionally, the cultural tradition of using nuts in cooking and as gifts has led to a strong demand for locally sourced nuts. The market is also subject to unique regulatory challenges, such as limited access to international markets due to landlocked borders, which can impact pricing and availability.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The demand for nuts is closely tied to disposable income and consumer spending, making the market susceptible to changes in economic conditions. Moreover, government policies and regulations can also impact market performance, particularly in terms of trade and tariffs. Additionally, factors such as population growth, urbanization, and increasing health consciousness are driving the demand for nuts as a healthy and convenient snack option, further boosting the market's growth.

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.