Spreads - Lesotho | Statista Market Forecast

The Spreads Market in Lesotho has been steadily growing, driven by factors such as increasing consumer awareness for healthier food options, convenience of online purchasing, and a growing interest in locally made spreads. However, the minimal growth rate can be attributed to limited availability of raw materials and competition from other spreads in the sub-markets.

Customer preferences: Consumers in Lesotho are becoming more health-conscious and are increasingly opting for natural and organic spreads and sweeteners. This trend is driven by a growing understanding of the negative impact of processed foods and artificial ingredients on health. Additionally, there is a rising demand for plant-based spreads and sweeteners, as more people are adopting vegetarian and vegan diets. This shift towards healthier and more sustainable options is also influenced by a growing awareness of environmental and ethical issues.

Trends in the market: In Lesotho, the Spreads Market of the Spreads & Sweeteners Market within The Food market has seen a shift towards healthier and more natural products. This trend is driven by the growing awareness of the health benefits of organic and plant-based products. As a result, there has been an increase in the demand for spreads and sweeteners made from natural ingredients such as honey, fruit, and nuts. This shift is significant for industry stakeholders as they need to adapt their product offerings to cater to this demand. Additionally, this trend has potential implications for the market as it may lead to increased competition and the need for innovation in product development.

Local special circumstances: In Lesotho, the Spreads market of the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's geographical location and limited access to imported goods. The local culture also plays a significant role as consumers prefer traditional spreads made from locally sourced ingredients. Additionally, the government's strict regulations on imported products have led to a growing demand for locally produced and marketed spreads, creating a unique market dynamic.

Underlying macroeconomic factors: The Spreads Market of the Spreads & Sweeteners Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and government policies. As Lesotho is a lower-middle-income country, the purchasing power of the population is relatively low, which affects the demand for spreads and sweeteners. However, the country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This, in turn, has positively impacted the market for spreads and sweeteners. Furthermore, the government of Lesotho has implemented policies to promote local food production and reduce dependency on imports, which has created opportunities for domestic players in the spreads and sweeteners market. Additionally, the growing focus on healthy eating and the rising awareness of the harmful effects of sugar consumption have also influenced the market, leading to a shift towards natural and sugar-free spreads and sweeteners.

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.