Pet Food - Lesotho | Statista Market Forecast

Revenue in the Pet Food market amounts to US$2.28m in 2024. The market is expected to grow annually by 6.51% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$60bn in 2024).
In relation to total population figures, per person revenues of US$0.97 are generated in 2024.
In the Pet Food market, volume is expected to amount to 2.60m kg by 2029. The Pet Food market is expected to show a volume growth of 5.0% in 2025.0.
The average volume per person in the Pet Food market is expected to amount to 0.9kg in 2024.

Definition:

The Pet Food market covers food that has been specifically created to meet the nutritional requirements of domesticated animals, including dogs, cats, as well as feed products for other less common house pets such as rodents and reptiles. Various components that supply vital nutrients for the animal’s health and wellness are often included in pet food.

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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Dog food
Cat food
Food for other house pets (rodents, reptiles, birds etc)

Feeds for farm animals
Pet supplement
Out-of-home consumption

The Pet Food Market in Lesotho is experiencing minimal growth, influenced by factors such as low disposable income and limited availability of premium pet food options. Despite this, the market is still driven by increasing pet ownership and a growing trend towards pet humanization.

Customer preferences: As the pet humanization trend continues to gain traction, pet owners in Lesotho are increasingly seeking high-quality, natural and organic pet food options. This is driven by growing awareness of the benefits of a balanced and nutrient-rich diet for their furry companions. Additionally, as more households adopt pets as companions, there is a growing demand for specialized pet food catering to specific dietary needs, such as weight management and senior pet care. This trend towards premium and specialized pet food options is expected to continue as consumers prioritize the health and well-being of their pets.

Trends in the market: In Lesotho, the Pet Food Market is experiencing a rise in premium and natural pet food options, in line with global trends. This trend is driven by increasing awareness of the importance of pet nutrition and humanization of pets. This trajectory is expected to continue as consumers become more health-conscious and willing to spend on their pets' well-being. For industry stakeholders, this presents opportunities for product innovation and differentiation, as well as potential challenges in meeting the demand for high-quality ingredients. Additionally, there is a growing market for online pet food sales in Lesotho, which could pose a threat to traditional brick-and-mortar retailers.

Local special circumstances: In Lesotho, the Pet Food Market is heavily influenced by the country's unique agricultural landscape. Due to its mountainous terrain and limited arable land, local production of pet food is limited, leading to a heavy reliance on imports. Additionally, cultural beliefs and practices also play a role in shaping the market, with many pet owners preferring to feed their pets traditional home-cooked meals. This has led to the emergence of small-scale, locally-owned pet food businesses catering to this demand. Furthermore, strict import regulations and high tariffs on foreign pet food products also contribute to the dynamics of the market.

Underlying macroeconomic factors: The Pet Food Market within The Food market is also affected by macroeconomic factors such as consumer spending patterns, economic stability, and government policies. Countries with stable economies and higher disposable incomes tend to have a higher demand for premium pet food products, leading to market growth. Additionally, favorable government policies and regulations that promote the use of high-quality pet food ingredients and safe manufacturing practices can also drive market growth. On the other hand, economic downturns and unstable political environments may impact consumer spending on pet food, leading to fluctuations in market performance.

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.