Margarine - Lesotho | Statista Market Forecast

Revenue in the Margarine market amounts to US$15.29m in 2024. The market is expected to grow annually by 6.34% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$5bn in 2024).
In relation to total population figures, per person revenues of US$6.49 are generated in 2024.
In the Margarine market, volume is expected to amount to 3.01m kg by 2029. The Margarine market is expected to show a volume growth of 0.4% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 1.22kg in 2024.

Definition:

Margarine is a butter substitute made from vegetable oils and contains a minimum of 80% fat. Margarine is typically less expensive and has less saturated fat than butter.

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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Regular margarine
Light or reduced-fat margarine
Soft margarine
Non-hydrogenated margarine
Cholesterol-free margarine
Vanaspati

Butter
Vegetable oils
Animal fats (e.g. lard)
Peanut butter
Out-of-home consumption

The Margarine Market within the Oils & Fats sector in Lesotho is experiencing minimal growth, influenced by factors such as limited consumer awareness, preference for traditional fats, and economic challenges affecting purchasing power. These elements hinder significant market expansion.

Customer preferences: In Lesotho, there is a gradual shift in consumer preferences towards healthier and more versatile cooking options, including margarine. As younger demographics become more health-conscious, they are increasingly seeking spreads that offer lower trans fats and enhanced nutritional profiles. Additionally, the influence of urbanization and exposure to global culinary trends is encouraging a move away from traditional fats. This evolution is complemented by a growing interest in plant-based diets, prompting manufacturers to innovate and cater to these emerging consumer demands.

Trends in the market: In Lesotho, the margarine market is experiencing a notable shift towards healthier alternatives as consumers increasingly prioritize nutrition and wellness. This trend is characterized by a rising demand for margarine products with reduced trans fats and enriched with vitamins and omega fatty acids. As urbanization progresses, consumers are exploring diverse culinary options, moving away from traditional fats. This shift is further fueled by the growing popularity of plant-based diets, prompting manufacturers to innovate and develop new margarine formulations. The implications for industry stakeholders include the need for enhanced product transparency and the potential for increased market competition as brands adapt to meet evolving consumer preferences.

Local special circumstances: In Lesotho, the margarine market is influenced by unique local factors such as its mountainous geography and cultural dietary preferences. The limited agricultural capacity and reliance on imports shape the availability of diverse margarine options, while traditional Basotho cuisine emphasizes the use of locally sourced ingredients. Regulatory frameworks promoting health and nutrition have spurred the introduction of fortified margarine products. As awareness of health issues rises, consumers are increasingly seeking products that align with their cultural values and nutritional needs, driving innovation in the market.

Underlying macroeconomic factors: The margarine market in Lesotho is significantly influenced by macroeconomic factors such as trade policies, currency stability, and consumer purchasing power. Global economic trends, including fluctuations in oil prices and supply chain disruptions, impact the cost of imported raw materials, directly affecting margarine pricing. Furthermore, national economic health—characterized by GDP growth and employment rates—affects consumer spending habits. Fiscal policies promoting local production and reducing import tariffs can enhance market competitiveness. Additionally, rising awareness of health and nutrition aligns with global trends, encouraging innovation in product offerings that cater to both health-conscious and culturally aligned 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.