Meat - Lesotho | Statista Market Forecast

Revenue in the Meat market amounts to US$143.60m in 2024. The market is expected to grow annually by 9.44% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$273bn in 2024).
In relation to total population figures, per person revenues of US$60.95 are generated in 2024.
In the Meat market, volume is expected to amount to 22.39m kg by 2029. The Meat market is expected to show a volume growth of 4.8% in 2025.0.
The average volume per person in the Meat market is expected to amount to 8.0kg in 2024.

Definition:

The Meat market covers animal (both domestic and wild) and non-animal meat that are bought and consumed for nutrient-based purposes.

Structure:

The market consists of 3 different submarkets:

The Fresh Meat market covers meat from both domestic and wild animals that are fresh, chilled, or frozen. This market is divided into five submarkets: beef & veal, pork, mutton & goat, poultry, and other fresh meat.
The Processed Meat market covers all types of meat that has been dried, salted, brined, or smoked. This segment is divided into three subsegments: cold & roast meat products, ham & bacon, sausages.
The Meat Substitutes market covers meat-replacement food items created from vegetarian or vegan components.

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.

Fresh Meat
Processed Meat
Meat Substitutes

Meat-based ready-to-eat meals
Out-of-home consumption

The Meat Market in Lesotho is experiencing minimal growth, influenced by factors such as increasing consumer health consciousness, growing adoption of digital technologies, and the convenience of online health services. The sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes all play a role in shaping the overall market, with varying levels of impact.

Customer preferences: As consumers in Lesotho become more health-conscious, there has been a noticeable increase in demand for organic and sustainably sourced meat products. This trend is also influenced by cultural preferences for traditional farming methods and a growing interest in ethical consumption. Additionally, the rise of online shopping and home delivery services has made it easier for consumers to access a wider variety of meat products, including those from small-scale farmers and specialty producers.

Trends in the market: In Lesotho, the Meat Market within The Food market industry is experiencing a rise in demand for organic and sustainably sourced meat products. This trend is driven by increasing consumer awareness of the health and environmental benefits of these products. Additionally, there is a growing demand for plant-based meat alternatives, as consumers become more health-conscious and environmentally conscious. These trends are expected to continue, with potential implications for industry stakeholders such as increased competition and a shift towards more sustainable and ethical practices.

Local special circumstances: In Lesotho, the Meat Market within The Food market is heavily influenced by the country's geographical location and cultural traditions. The landlocked nature of the country limits the availability of fresh produce, leading to a strong demand for meat as a staple food. Additionally, Lesotho's strong cultural ties to livestock rearing and consumption further drive the demand for meat products. The market is also regulated by the government to ensure food safety and quality, making it a trusted source of meat for consumers.

Underlying macroeconomic factors: The Meat Market within The Food market industry in Lesotho is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The performance of the market is closely tied to the overall economic climate of the country, as well as the purchasing power and consumer spending patterns of its citizens. The market is also affected by the availability of resources, government policies, and trade agreements with other countries. Additionally, the growing demand for high-quality and sustainable meat products, coupled with the increasing focus on food safety and traceability, are shaping the future growth of the Meat Market in Lesotho.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

In the past, many cultures considered meat a luxury that could only be enjoyed on special occasions or certain days of the week, while today it is a staple that can be found in nearly all restaurants and many kitchens all over the world. The market value of the meat industry is expected to rise from 897.5 billion U.S. dollars in 2021 to over 1.3 trillion dollars by 2027. In 2022, the United States saw the highest revenue from meat products and sausages, over five billion U.S. dollars more than the second largest meat market in the world, Germany with a revenue of over 33.6 billion U.S. dollars. France, Russia, and Mexico are finishing the top five countries with the biggest revenue from processed meats.