Alcoholic Drinks - Lesotho

The Alcoholic Drinks market in Lesotho has been experiencing significant growth in recent years. Customer preferences in Lesotho have been shifting towards premium and high-quality alcoholic beverages. Consumers are increasingly looking for unique and sophisticated products that offer a premium experience. This trend is driven by a growing middle class and an increasing number of young professionals who are willing to spend more on high-end alcoholic drinks. Additionally, there is a growing interest in craft beers and artisanal spirits, as consumers seek out locally-produced and unique products. One of the key trends in the market is the rise of locally-produced alcoholic beverages. Lesotho has a rich culture of brewing traditional beer, and this has gained popularity among consumers. Traditional beer is seen as a symbol of cultural heritage and is often consumed during social gatherings and celebrations. This trend is also driven by the increasing demand for locally-sourced and sustainable products. Another trend in the market is the growing popularity of wine. Wine consumption in Lesotho has been on the rise, with consumers becoming more knowledgeable about different grape varieties and wine regions. This trend is driven by a growing middle class and a desire for a more sophisticated drinking experience. Wine is often associated with luxury and is seen as a status symbol among consumers. Local special circumstances in Lesotho also play a role in the development of the Alcoholic Drinks market. The country has a relatively small population, which limits the size of the market. However, the government has been implementing policies to promote the growth of the tourism industry, which has a positive impact on the Alcoholic Drinks market. The tourism industry attracts a significant number of international visitors who are interested in experiencing the local culture, including traditional beverages. Underlying macroeconomic factors also contribute to the development of the Alcoholic Drinks market in Lesotho. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income. This allows consumers to spend more on discretionary items such as alcoholic beverages. Additionally, Lesotho has a young and growing population, which creates a larger consumer base for the market. In conclusion, the Alcoholic Drinks market in Lesotho is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers are increasingly looking for premium and high-quality products, and there is a growing interest in locally-produced beverages. The rise of wine consumption and the promotion of the tourism industry also contribute to the market's development. Overall, the market is driven by a growing middle class, increasing disposable income, and a young and growing population.

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level 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 Alcoholic Drinks 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.