Oils & Fats - Lesotho

Lesotho

Highlights

Revenue in the Oils & Fats market amounts to US$44.62m in 2024. The market is expected to grow annually by 6.78% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$46bn in 2024).
In relation to total population figures, per person revenues of US$18.94 are generated in 2024.
In the Oils & Fats market, volume is expected to amount to 8.19m kg by 2029. The Oils & Fats market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Oils & Fats market is expected to amount to 3.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oils & Fats market in Lesotho is experiencing minimal growth, influenced by factors such as changing consumer preferences, limited product variety, and economic constraints. Additionally, rising health consciousness is prompting shifts towards healthier alternatives, impacting traditional fat usage.

Customer preferences: In Lesotho, consumers are increasingly prioritizing health-conscious choices in their diets, leading to a shift towards plant-based oils and fats. This change is influenced by rising awareness of nutrition and wellness, particularly among younger demographics who are more exposed to global health trends. Traditional cooking fats are being replaced with alternatives such as olive oil and avocado oil, reflecting a growing desire for healthier cooking options. Additionally, urbanization and busy lifestyles are driving demand for convenient, ready-to-use cooking fats, blending tradition with modern dietary preferences.

Trends in the market: In Lesotho, the Oils & Fats Market is experiencing a notable shift towards healthier alternatives, with consumers increasingly favoring plant-based oils such as olive and avocado oil over traditional cooking fats. This trend is fueled by heightened health awareness, especially among younger populations who are influenced by global wellness movements. Additionally, urban lifestyles are propelling demand for convenient, ready-to-use cooking fats, merging traditional practices with modern dietary needs. These shifts present significant opportunities for industry stakeholders to innovate product offerings and cater to evolving consumer preferences.

Local special circumstances: In Lesotho, the Oils & Fats Market is shaped by the country’s unique geographical and cultural landscape, where mountainous terrain and limited agricultural diversity present challenges for oil production. Traditional cooking methods, heavily reliant on maize and animal fats, are gradually evolving as urbanization introduces diverse culinary influences. Additionally, local regulations promoting health and nutrition awareness support the shift towards healthier oils. These factors, combined with a focus on sustainability and organic products, create a distinct market dynamic that encourages innovation and responsiveness to local dietary needs.

Underlying macroeconomic factors: The Oils & Fats Market in Lesotho is significantly influenced by macroeconomic factors such as global commodity prices, currency fluctuations, and national economic health. As global demand for edible oils rises, fluctuations in international markets can impact local pricing and availability, affecting consumer purchasing behavior. Additionally, Lesotho's economic strategies, including fiscal policies that promote agricultural sustainability and food security, play a crucial role in shaping the market landscape. The country's limited agricultural output further necessitates reliance on imports, making the market sensitive to global trade dynamics. Furthermore, rising awareness of health and nutrition, alongside urbanization trends, drives a shift towards healthier oil options, influencing local production and consumption patterns.

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.