Butter - Lesotho | Statista Market Forecast

Revenue in the Butter market amounts to US$3.45m in 2024. The market is expected to grow annually by 7.48% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$7bn in 2024).
In relation to total population figures, per person revenues of US$1.47 are generated in 2024.
In the Butter market, volume is expected to amount to 251.80k kg by 2029. The Butter market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Butter market is expected to amount to 0.10kg in 2024.

Definition:

Butter is a dairy product made up of several components, such as milk fat, milk proteins, and water. Butter contains a minimum of 80% fat and is widely used in baking and cooking, and as a flavor enhancer for a variety of dishes.

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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Salted butter
Unsalted butter
Cultured butter
Light butter
Flavored butter

Margarine
Vegetable oils
Other animal fats (e.g. lard)
Clarified butter (Ghee)
Peanut butter
Out-of-home consumption

The Butter Market in Lesotho is witnessing minimal growth, influenced by factors such as limited consumer awareness of butter's health benefits, competition from margarine, and economic challenges that restrict purchasing power among consumers.

Customer preferences: In Lesotho, there is a growing trend towards natural and organic food products, influencing consumer preferences in the Butter Market. Increasing health consciousness among younger demographics is prompting a shift from processed foods to more wholesome options, including butter. Additionally, traditional cooking practices are being revived, with butter being favored for its cultural significance in local cuisine. However, economic constraints continue to challenge consumers' ability to prioritize premium butter over more affordable spreads, such as margarine.

Trends in the market: In Lesotho, the Butter Market is experiencing a notable shift towards natural and organic butter products, driven by a rising health consciousness among consumers. Younger demographics are increasingly favoring wholesome options, steering away from processed alternatives. This trend is significant as it reflects a broader cultural revival of traditional cooking practices, where butter plays a vital role in local cuisine. However, economic challenges persist, limiting access to premium butter and resulting in continued reliance on more affordable spreads like margarine. Stakeholders in the industry must adapt to these changing preferences while addressing affordability to capture a broader market segment.

Local special circumstances: In Lesotho, the Butter Market is influenced by the country's rich cultural heritage and reliance on traditional farming practices. The mountainous terrain limits large-scale dairy production, making locally sourced butter a prized commodity. Consumers are increasingly drawn to artisanal, organic butter, reflecting a revival of ancestral cooking methods. However, regulatory challenges, such as import tariffs on dairy products, hinder the availability of premium options. This unique blend of cultural appreciation and economic constraints shapes the market, compelling producers to innovate while balancing affordability and quality.

Underlying macroeconomic factors: The Butter Market in Lesotho is significantly influenced by macroeconomic factors such as global dairy price fluctuations, national economic stability, and agricultural policies. The country's reliance on traditional farming practices means that local butter production is sensitive to changes in weather conditions and crop yields, impacting supply. Additionally, the national economy's health, characterized by GDP growth and inflation rates, affects consumer purchasing power and demand for premium products. Fiscal policies, including import tariffs and subsidies, further shape market dynamics, creating challenges for producers in sourcing high-quality inputs while balancing affordability for consumers.

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.